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Cox Automotive and Moody’s Analytics Launch Vehicle Affordability Index 11/17/2020 ATLANTA, Nov. 17, 2020 – Cox Automotive and Moody’s Analytics are launching today the Vehicle Affordability Index that quantifies price movements in the new vehicle market in relation to the spending power of the U.S. consumer. The Cox Automotive/Moody’s Analytics Vehicle Affordability Index (VAI) will be updated monthly using the latest data from government and industry sources, including key pricing data from Kelley Blue Book, a… Read Article

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Cox Automotive Mobility White Paper Explores Post-COVID-19 EV Market 09/21/2020 ATLANTA, Sept. 21, 2020 – While the electric vehicle (EV) market will take a hit in 2020, it will be more of a stall out than a vanishing act. Electric adoption is inevitable, but its pace is a big question. The latest white paper from Cox Automotive Mobility, titled “COVID-19 Recovery: Speed Bump or Accelerant for the EV Market?,” addresses the tailwinds, headwinds and whirlwinds impacting the… Read Article

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U.S. Auto Dealer Sentiment Reaches Record High; Inventory Becomes Top Concern 09/08/2020 ATLANTA, Sept. 8, 2020 – According to the Q3 2020 Cox Automotive Dealer Sentiment Index (CADSI) released today, U.S. automobile dealers’ view of the current automotive market shows significant improvement and has mostly recovered from the historic, pandemic-driven drops in the second quarter. The overall current market index moved into positive territory in Q3 with a score of 56, a 36-point increase from last quarter. The… Read Article

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Cox Automotive’s Statement on COVID-19 – Summary of Activities 08/25/2020 A Note from Cox Automotive CEO Sandy Schwartz Regarding COVID-19 Let’s just say this about COVID-19: We’re all in it together. Our job is to help make the automotive industry as good as it can be, and that has never been more apparent or more important than right now. Like so many others, Cox Automotive is looking for every opportunity to keep our people healthy, to… Read Article

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Brand Experience Centers, At-Home Maintenance, Service Pick-up and Drop-off: These are the Modern Automotive Dreams, New Research Shows 01/22/2020 ATLANTA, Jan. 22, 2020 – It’s no secret the current car-buying experience has room for improvement and that few owners are looking forward to the next 3-hour wait while their vehicle is serviced. But what does an ideal automotive consumer experience actually look like? A new report from Cox Automotive released today provides a road map. Reimagining the Automotive Consumer Experience is a comprehensive look at… Read Article

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Auto Market Weekly Summary 11/30/2020 November saw a record number of new COVID-19 cases and hospitalizations. Consumer confidence is declining, and consumer spending decelerated in October before we began to see weekly increases in initial claims for unemployment in November. The 13.7 million consumers who are receiving unemployment benefits from coverage provided by the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act will see their income support end the day… Read Article

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How Cox Automotive Navigates Growing Global Workforce Challenges 11/25/2020 Global Atlanta, Nov. 25, 2020 – Only about 10 percent of Atlanta-based Cox Automotive's $7 billion in revenues come from outside the U.S., a number the company hopes to grow as it continues to serve clients in more than 100 countries. But that hasn’t insulated it from the challenge of managing a workforce that has become increasingly international as Cox has stepped up its digital game during… Read Article

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Week #36 Special Edition: Economic Impact on Auto Sales with Jonathan Smoke 11/24/2020 Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impactContinuing jobless claims and impacts by stateConsumer sentiment in the U.S. and in the largest DMAsCox Automotive consumer survey results on shopping and service0% APR offersNew- and used-vehicle inventoryWholesale and retail prices and… Read Article

Market Insights Smoke on Cars

Everything About 2020 Is Different, Including Year-End Deals 11/24/2020 Can you hear that chorus of retailers singing, “It’s the most wonderful time of the year”? Thanksgiving is a couple of days away, but we are already seeing it: Christmas trees at Lowe’s, Holiday Deals on Amazon, and plenty of television ads with Santa leading a fleet of white cars with red bows – as Lexus always says, “…a December to Remember.” But this year definitely… Read Article

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Cox Automotive November Forecast: Seasonality Weakens U.S. Auto Sales After Months of Recovery 11/24/2020 ATLANTA, Nov. 24, 2020 – U.S. auto sales for November are expected to show a market that is now weakening after months of recovery from April’s historic low seasonally adjusted annual rate (SAAR). The sales pace for light vehicles is expected to fall to 15.8 million this month, down from last year’s 17.0 million pace, but more importantly down from last month’s 16.2 million level. A… Read Article

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Another Gift From 2020: Car Buyers Seeking Black Friday Deals Likely Out of Luck This Year 11/23/2020 CNBC, Nov. 23, 2020 – The coronavirus pandemic is ending yet another annual holiday tradition for shoppers in 2020: Black Friday deals on new cars. Instead of offering the steep discounts to clear out older inventory, many automakers are having a hard time resupplying dealer lots with enough inventory after shutting down factories earlier the year to try to curb the outbreak this spring. That’s left… Read Article

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Auto Market Weekly Summary 11/23/2020 Daily new COVID-19 cases continue an upward trend that is producing records. We saw more than 186,000 on Thursday. At this pace, we will likely see 200,000 today or tomorrow. Hospitalizations are also at new record highs, and daily deaths are rising. Consumer sentiment plummets: This third and bigger wave of COVID-19 is taking a toll on consumer sentiment. The index of consumer sentiment from Morning… Read Article

Market Insights Smoke on Cars Economy & Trends

Loans in Accommodation Decrease, Delinquencies Increase in October 11/20/2020 We have observed auto loan credit loosening this fall, and access to all types of auto loans continued to improve in October. However, access remains tighter than year-ago and pre-pandemic availability levels. Credit access for used vehicles sold by independent dealers improved the most in October. On a year-over-year basis, all loan types are tighter, with certified pre-owned having tightened the most while independent used has… Read Article

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Used-Vehicle Supply and Prices on the Rise 11/18/2020 Used-vehicle inventory, which had been rising modestly in recent weeks, accelerated more quickly to open the month of November, and the average listing price set a new record, according to a Cox Automotive analysis of vAuto Available Inventory data. As of Nov. 2, the total U.S. supply of unsold used vehicles stood at 2.56 million, up from 2.35 million a month ago, but still down from… Read Article

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Q3 2020 Kelley Blue Book Brand Watch Report: Luxury SUV Shopping Soars to New Heights 11/18/2020 Shopping for luxury SUVs soared to new heights in the third quarter, a trend likely to continue with the onslaught of upcoming new models, according to the Kelley Blue Book Brand Watch™ report for the luxury segment. The Brand Watch Report is a consumer perception survey that also weaves in consumer shopping behavior to determine how a brand or model stacks up with its segment competitors… Read Article

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