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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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Detroit Automakers Face Delicate Dance With Red-State Supporters 10/20/2020 Bloomberg, by Keith Naughton, Oct. 20, 2020 – Under the Trump administration, few industries have been singled out for scorn and threats from the White House as much as automakers. But even if President Donald Trump’s re-election bid falls short in November, American car companies have a much bigger constituent to answer to: their own red-state customer base. The delicate dance automakers have played with the… Read Article

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Cox Automotive Commentary: GMC Hummer EV Launch 10/20/2020 Tuesday evening during Game 1 of the World Series, General Motors is hoping for a win as they show for the first time the all-new GMC Hummer EV. GM is already calling it “the world’s first all-electric supertruck” and intends to have it in showrooms within a year, a fall 2021 launch. In fact, the new Hummer EV is just one of many EVs coming down… Read Article

Market Insights Commentary & Voices

Wholesale Prices Show Seasonal Strength 10/19/2020 Given the current turbulence in the automotive marketplace, the Cox Automotive Economic & Industry Insights team is publishing its mid-month view of the wholesale market, including wholesale prices. The posted material provides commentary and an updated look at the Manheim Used Vehicle Value Index for October and general information on segment performance for the first 15 days of October. Access the Mid-Month Update for the full report.… Read Article

Manheim Used Vehicle Value Index MUVVI Market Insights Data Point

Auto Market Weekly Summary 10/19/2020 Daily new COVID-19 cases continue an upward trend. The growth continues to accelerate and is creating higher hospitalizations as well. In terms of economic impact, overall inflation remains subdued while retail sales were stronger than expected Inflation in check: Headline and core inflation increased again in September but at a slower rate than in August, which was the highest level since March. However, there were big… Read Article

Market Insights Smoke on Cars Economy & Trends

CPO Sales Drop for Third Consecutive Month, Remain Down 7% Overall 10/15/2020 Sales of certified pre-owned (CPO) vehicles increased nearly 10% year over year in September but were down 6% month over month compared to August. For September, 224,536 CPO units were sold. The CPO market has been one of the strongest performing segments within the auto retail market. Consumer demand has improved from the peak of COVID-19 in April. CPO sales are down 7% year to date… Read Article

Market Insights Data Point

Consumer Auto Credit Conditions Difficult and Will Get Worse for Subprime 10/15/2020 The automotive market has been incredibly resilient during this pandemic, but credit is likely to become more challenging in the months ahead, especially as Congress has failed to pass a much-needed additional stimulus package. The Coronavirus Aid, Relief, and Economic Security (CARES) Act pumped trillions of dollars into the economy and provided support for severely impacted businesses and workers. However, much of the CARES Act support… Read Article

credit consumer credit consumer auto credit Market Insights Smoke on Cars Economy & Trends

Additional Stimulus Needed to Endure Coronavirus-Induced Downturn 10/15/2020 Automotive News, Oct. 14, 2020 – Unprecedented times brought on by the coronavirus pandemic called for unprecedented support. As the positive impacts of the stimulus fade, the automotive finance industry — among others — is calling for another round. The swift actions taken at the onset of the pandemic through the passage of the CARES Act were impactful, if short-lived, in terms of the ongoing crisis.… Read Article

News Coverage

Week #30 Special Edition: Economic Impact on Auto Sales with Jonathan Smoke 10/14/2020 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

10 Takeaways from U.S. Auto Sales: Q3 2020 and COVID-19 10/13/2020 If there’s one word to describe the U.S. automobile business, it might well be resilient. From a pretty awful Q2, when much of the industry was closed and sales volume had dropped by an alarming amount, auto sales came roaring back in Q3. Analysts across the country are remaking their forecasts – Cox Automotive analysts included – and auto dealers are feeling pretty confident about business… Read Article

new-vehicle sales Market Insights Data Point

Used Car Dealer Podcast Episode #15 – Interview with Cox Automotive Senior Economist Charlie Chesbrough 10/12/2020 Used Car Dealer Podcast, Oct. 12, 2020 – In episode #15, Zach Klempf has an in-depth interview with Senior Economist at Cox Automotive Charlie Chesbrough, and they discuss hot topics like: 1) What does an economist do and how does one become an economist at Cox Automotive 2) Charlie's perspective on the economy from March to present (auto-focused) 3) Wholesale prices on used inventory and impact… Read Article

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