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Despite Continued Inventory Troubles, U.S. Automobile Dealer Sentiment Remains Positive, Spurred by Record-High Profits 09/13/2021 ATLANTA, Sept. 13, 2021 – As tight vehicle inventory continues to vex the auto industry, U.S. dealer sentiment in the third quarter softened but remains mostly positive and above levels recorded in Q3 2020 and Q3 2019. The current market index reading of 62 in the most recent Cox Automotive Dealer Sentiment Index (CADSI) indicates that more dealers feel that the automotive market is strong compared to the… Read Article

Cox Automotive Dealer Sentiment Index CADSI Press Releases

Cox Automotive Mobility Takes Charge of EV Battery Lifecycle Services With Global Acquisition 09/01/2021 ATLANTA (September 1, 2021) – Focused on being the world’s best end-to-end caretaker for the electric vehicle (EV) future from storage and logistics to remanufacturing, reuse and pre-treatment recycling, Cox Automotive Mobility today announced a foundational investment for its new global EV battery service network with the acquisition of Spiers New Technologies (SNT), a leading service provider for EV battery lifecycle management. As EVs take center stage, battery production, health… Read Article

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Penske Automotive Group and Cox Automotive Debut Automated Platform for Retailing Used Vehicles 07/22/2021 BLOOMFIELD HILLS, MI and ATLANTA, GA (July 22, 2021) – Penske Automotive Group, Inc., (NYSE:PAG) and Cox Automotive, Inc. (“CAI”), announced today they have jointly developed a transformational, fully automated technology platform to enable the online retail sale of used vehicles. The automated online buying platform, which is owned exclusively by Cox Automotive, allows consumers to select from high-quality, preowned vehicles through PAG’s U.S. CarShop used… Read Article

Esntial Commerce Penske Automotive Group used vehicles pre-owned vehicles Press Releases

Help Wanted: U.S. Automobile Dealers Struggle to Hire Employees While Business Booms 06/21/2021 ATLANTA, June 21, 2021 – The U.S. economy is showing signs of returning to pre-pandemic levels, and the auto business is booming. Like many industries, U.S. automotive retail is struggling to find enough employees for dealerships to be fully staffed, much less meet their 2021 growth goals. In the 2021 Cox Automotive Dealership Staffing Study published today, 72% of franchised auto dealers surveyed say that finding and… Read Article

Staffing Dealership Staffing Study Press Releases

Cox Automotive Study Finds Car Buying Process Improved During COVID-19 Pandemic 02/23/2021 ATLANTA, Feb. 23, 2021 – Cox Automotive today released its 11th annual Car Buyer Journey Study. The extensive study is based on a survey of consumers who bought or leased a new or used vehicle and is designed to offer a detailed look at the vehicle buying process in America, from start to finish. While the global COVID-19 pandemic has negatively impacted nearly every measure of… Read Article

Car Buyer Journey Press Releases

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Only One Week to Go: Register for Q3 Sales Forecast Call 09/23/2021 In the dynamic automotive landscape, using data and insights remains the best approach to change management. During the Q3 Cox Automotive Sales Forecast Call, hear Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough and the Industry Insights team explain the factors that drove the auto industry in the third quarter. Join us on Thursday, September 30 at 10 a.m. EDT. In addition to the economic factors… Read Article

Inventory U.S. auto sales Market Insights Commentary & Voices

The Fed Is Not Tapering Yet, But Could as Soon as November 09/22/2021 U.S. monetary policy was unchanged today as the Fed issued their official statement following their sixth meeting of 2021. The most important information coming out of this meeting was direction on future policy, namely when tapering might begin and if the schedule for possible rate liftoff is accelerating. Tapering we learned is likely coming soon, but not yet. The changes made to the official statement compared… Read Article

Market Insights Smoke on Cars Economy & Trends

Kelley Blue Book Reports Vehicle Shoppers Exiting Market as Inventory Shortages Continue to Plague Auto Industry 09/22/2021 August was the fourth straight month of slowing new-vehicle sales. The global chip shortage is the main culprit as the resulting dearth of inventory pushes prices to record highs. A second round of consumer research conducted by Kelley Blue Book finds that nearly half of car shoppers are exiting the market and delaying their purchase for the next several months due to the chip shortage. The… Read Article

new-vehicle inventory computer chip shortage Market Insights Data Point

Cox Automotive’s Brian Finkelmeyer on New Vehicle Inventory and What Dealers Should Focus on 09/22/2021 CBT News, Sept. 22, 2021 – As demand continues to climb alongside inventory concerns, could you be doing more to get ahead of it all? Brian Finkelmeyer, senior director of new car solutions at Cox Automotive, joined Jim Fitzpatrick to discuss practices dealers can implement today and what they should be paying attention to. Finkelmeyer says it’s a remarkable time for dealers across the country, as… Read Article

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Still Tight Used-Vehicle Inventory Pushes Prices Higher 09/21/2021 The average listing price for used vehicles set another record in August as vehicle inventory dipped, according to the Cox Automotive analysis of vAuto Available Inventory data. Though available supply fell, days’ supply held steady throughout August because sales slowed. 2.35M Total UnsoldUsed Vehiclesend of August 40 Days' Supply $25,829 Average Listing Price 67,811 Average Mileage “The lack of supply in the new market is also… Read Article

Inventory used-vehicle prices used-vehicles inventory Market Insights Data Point

Auto Market Weekly Summary 09/20/2021 After declining in the first week of September, the trend in new daily COVID-19 cases resumed increasing last week. Consumer sentiment declined again, and sentiment is now down slightly in September following declines in July and August. Initial jobless claims increased last week from what had been a low for the pandemic. Inflation trends decelerated in August. Retail sales increased in August, but spending remained off… Read Article

Market Insights Smoke on Cars Economy & Trends

Cox Automotive’s Charlie Chesbrough Reveals Forecast for Q4 and How Car Dealers Can Prepare 09/17/2021 CBT News, Sept. 17, 2021 – The shortage of new vehicle inventory has led to a decline in sales and an uptick in stress for many of you. Cox Automotive is reporting that August was the fourth consecutive month of slowing sales for new vehicles. On this episode, Charlie Chesbrough, senior economist and senior director of Industry Insights at Cox Automotive, joins Jim Fitzpatrick to walk us… Read Article

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Wholesale Prices Increase Halfway Through September 09/17/2021 Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 3.6% in the first 15 days of September compared to the month of August. This brought the Manheim Used Vehicle Value Index to 201.4, a 24.9% increase from September 2020. Click image to enlarge. Manheim Market Report (MMR) prices saw a strong increase through the first two full weeks of September. The Three-Year-Old… Read Article

Manheim Used Vehicle Value Index MUVVI Market Insights Data Point

13-Month Rolling Used-Vehicle SAAR 09/16/2021 According to Cox Automotive estimates, total used-vehicle sales were down 14% year over year in August. The seasonally adjusted annual rate (SAAR) of sales declined to 35.7 million, down significantly from 41.6 million last August and also down compared to 41.7 million in July. Total used-vehicle sales volume last month was estimated at 3.1 million, down from 3.5 million in July. Click image to enlarge.… Read Article

used car SAAR Market Insights Data Point CAMIO

New-Vehicle Affordability Declines to New Low in August 09/15/2021 With market dynamics leading to record prices and at least a decade-low for the month of August in incentives, new-vehicle affordability declined again in August. Without improving incomes, the decline in affordability would have been even worse. The number of median weeks of income needed to purchase the average new vehicle in August increased to 37.7 weeks from a downwardly revised 37.3 weeks in July. COX… Read Article

Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point

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