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6 min read
High Interest Rates and Slow Economy Repress U.S. Automobile Dealer Sentiment
09/08/2023
ATLANTA, Sept. 8, 2023 – Overall dealer sentiment in the U.S. held mostly steady in Q3 2023 compared to Q2, as high interest rates and economic concerns weigh heavily on the U.S. auto market, according to the Cox Automotive Dealer Sentiment Index (CADSI). The Q3 current market index was 45, still below the threshold of 50, indicating that more dealers see the current auto market as…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
8 min read
As Inventory Concerns Begin to Fade, Economic Uncertainty and High Interest Rates Take Center Stage for U.S. Automobile Dealers
06/07/2023
ATLANTA, June 7, 2023 – Overall dealer sentiment in the U.S. improved slightly in Q2 2023, according to the quarterly Cox Automotive Dealer Sentiment Index released today. The current market index is now at 45, up from 43 in Q1 but still below the threshold of 50, indicating that more dealers see the current auto market as weak than see the market as strong. The Q2…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
6 min read
Cox Automotive Dealer Sentiment Index: Strong U.S. Auto Market Performance Expected in Q2
03/09/2023
ATLANTA, March 9, 2023 – U.S. automobile dealer sentiment in the first quarter of 2023 was little changed from the level recorded in Q4 2022 and remains at the lowest level since the height of the global COVID-19 pandemic, according to the Cox Automotive Dealer Sentiment Index (CADSI). At 43, the current market index is below the threshold of 50, indicating more dealers view the current auto…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
3 min read
Cox Automotive Acquires FleetNet America
02/28/2023
ATLANTA (Feb. 28, 2023) – Driven to keep the world’s fleets moving efficiently, safely and sustainability, Cox Automotive today announced the acquisition of fleet industry leader FleetNet America®. With the acquisition, Cox Automotive Mobility and FleetNet are creating the foundation that will transform operating a fleet, where every vehicle, and every service is connected. “The market leadership that comes with this joining of our two companies is unmatched in…
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Cox Automotive Mobility
Press Releases
9 min read
Cox Automotive’s Car Buyer Journey Study Shows Growing Frustration with Car Buying Process
01/18/2023
ATLANTA, Jan. 18, 2023 – New research released today by Cox Automotive shows that satisfaction with the car buying process declined in 2022 for the second straight year. The 2022 Car Buyer Journey Study reveals vehicle buyers were frustrated with high prices, limited availability, and the amount of time required to complete the process. Used-vehicle buyers, who are often more price sensitive and face higher interest…
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Car Buyer Journey
Press Releases
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News Coverage
3 min read
BYD Motors, Cox Automotive Announce Groundbreaking Service Partnership in U.S. Market
09/28/2023
ATLANTA (Sept. 27, 2023) – BYD Motors and Cox Automotive announced today the two companies have entered into a service agreement that covers BYD customers and their growing fleets of class 6 and class 8 trucks within the United States with 24/7 roadside support and a nationwide network of EV-trained service technicians. “This agreement with a nationally respected fleet services leader in Cox Automotive bolsters the…
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Press Releases
Fleet
EV
Press Releases
1 min read
Q3 2023 Cox Automotive Industry Insights and Sales Forecast Call Replay Available
09/26/2023
A replay of the Q3 2023 Cox Automotive Industry Insights and Sales Forecast Call held on Tuesday, Sept. 26, is available below. Chief Economist Jonathan Smoke and the Economic and Industry Insights team shared data and insights regarding the performance of the consumer, industry, and economy in the third quarter, including updated 2023 Cox Automotive forecasts and the Cox Automotive Q3 and September U.S. auto sales forecast. Plus, take a listen to DJ…
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sales forecast
U.S. auto sales
Market Insights
Smoke on Cars
Commentary & Voices
1 min read
2023 Cox Automotive Forecasts
09/26/2023
Cox Automotive provides forecasts on the new and used vehicle markets as well as leasing, fleet and CPO sales and the Manheim Used Vehicle Value Index. The Economic and Industry Insights team reviews the forecasts quarterly and updates them as changes in the market dictate. The updated 2023 forecasts were presented during the Cox Automotive Industry Insights and Sales Forecast Call on Sept. 26. Note: For…
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sales forecast
U.S. auto sales
Market Insights
Data Point
5 min read
New-Vehicle Market Shrugs Off High Loan Rates, UAW Strike, Closes Q3 on a Strong Note; September Sales Forecast by Cox Automotive to be Up 13% Year Over Year
09/26/2023
ATLANTA, Sept. 26, 2023 – The U.S. auto industry’s robust year-over-year sales recovery continued in the third quarter, according to a forecast released today from Cox Automotive. Despite rising interest rates on new-vehicle loans and a strike by the United Auto Workers against the major domestic automakers, sales volumes in September are forecast to reach nearly 1.3 million, an increase of more than 13% from 2022.…
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new-vehicle sales
sales forecast
SAAR
Press Releases
1 min read
Q3 2023 Cox Automotive Industry Insights and Sales Forecast Call Presentation Available
09/26/2023
The Q3 Cox Automotive Industry Insights and Sales Forecast call will be hosted today, Sept. 26, at 11 a.m. EDT, shortly before the auto industry closes the book on the third quarter. Join Chief Economist Jonathan Smoke, Stephanie Valdez-Streaty, director of Industry Insights, Senior Economist Charlie Chesbrough, plus Chris Frey and Jonathan Gregory, senior managers of Economic and Industry Insights, to hear how the auto industry performed in the third quarter…
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sales forecast
U.S. auto sales
Market Insights
Commentary & Voices
5 min read
Auto Market Weekly Summary
09/25/2023
New construction trends were mixed in August with starts down, permits up, multifamily weak, but single family more stable. Existing home sales declined again in August when a small increase had been expected. Jobless claims are declining in September. The labor market is not as strong as it was a year ago, and claims have increased in 2023, but they are declining now by almost every…
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Market Insights
Smoke on Cars
Economy & Trends
1 min read
Register Today: Cox Automotive Q3 2023 Industry Insights and Sales Forecast Call
09/22/2023
The Q3 Cox Automotive Industry Insights and Sales Forecast call will be hosted Tuesday, Sept. 26, at 11 a.m. EDT, shortly before the auto industry closes the book on the third quarter. In the upcoming webinar, Chief Economist Jonathan Smoke and the Economic and Industry Insights team will share valuable data and insights regarding the performance of the consumer, industry, and economy in the third quarter. Additionally, the team will review our forecasts and provide…
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Market Insights
Commentary & Voices
1 min read
Manheim Market Insights Series: Episode 13
09/21/2023
Welcome to the monthly Manheim Market Insights update. Chris Frey, senior manager of economic and industry insights at Cox Automotive, offers a monthly check-in on what we are seeing in the used wholesale and retail markets, all through the wide lens of the data available from Cox Automotive. This month’s video highlights the midmonth Manheim Used Vehicle Value Index (MUVVI), wholesale inventory, sales conversion, used retail inventory volume,…
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Manheim Market Insights
Market Insights
Commentary & Voices
4 min read
Fed Holds Rate Policy Steady, But Bond Market Already Raised Actual Rates
09/20/2023
As expected, the Fed left rates unchanged, at least regarding the official short-term rate policy. However, they made it clear that additional rate hikes could come, as they remain “highly attentive to inflation risks.” The Fed will hold two more meetings in 2023; one on November 1 and another on December 13. The Fed also upwardly revised economic forecasts, and their revised views of GDP and…
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Market Insights
Smoke on Cars
Economy & Trends
1 min read
CarDealershipGuy Podcast: What’s Next for Car Prices and Auto Lending? | Jonathan Smoke, Chief Economist at Cox Automotive
09/20/2023
Cox Automotive Chief Economist Jonathan Smoke joins CarDealershipGuy Podcast to discuss the state of auto lending and what's to come, how interest rates are impacting the car industry, the No. 1 issue for car shoppers right now, the best and worst car deals on the market, what a UAW strike could mean for the auto industry, winners and losers in the EV space and will used-car…
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News Coverage
Smoke on Cars
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