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Auto Dealer Sentiment Drops as COVID-19 and the Economy Severely Impact Business; Franchised Auto Dealers Hold Onto Optimism for the Summer 06/08/2020 ATLANTA, June 8, 2020 – According to the Q2 2020 Cox Automotive Dealer Sentiment Index (CADSI) released today, U.S. automobile dealers’ view of the current automotive market remains negative and is understandably far more negative than in the first quarter. With an index score of 20, the rating presents a clear picture of the devastating impact COVID-19 has had on the auto industry, and the decrease from Q1’s index… Read Article

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Cox Automotive’s Statement on COVID-19 – Summary of Activities 05/01/2020 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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Toyota, Honda, Kia Rally Continues; Hyundai Posts 1st Gain since Feb. 08/04/2020 Automotive News, Aug. 4, 2020 – Toyota Motor Corp., American Honda and Kia in July posted their smallest U.S. sales declines since the coronavirus outbreak took hold and four brands chalked up increases, signaling the market continues to recover from the pandemic. Volume fell 19 percent at Toyota Motor, 11 percent at America Honda and 1.7 percent at Kia, the companies said Monday. Meanwhile, July sales… Read Article

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Pickup, Light-Truck Supplies Get Skimpy 07/14/2020 Automotive News, July 13, 2020 – Even with fleet sales still blunted by the lingering effects of COVID-19 on daily rental-car companies and most production in North America recovering, auto industry inventories continued to tighten in June, especially in light trucks and among certain automakers. Cox Automotive estimates that total U.S. inventory dropped to 2.55 million vehicles to start July, representing a 70-day supply at current… Read Article

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Tough Time for Dealers Seeking Inventory as Wholesale Values Soar 07/13/2020 Automotive News, July 13, 2020 – As new-vehicle inventory at dealerships wanes across the U.S., more shoppers are turning to used cars, leading to record-high auction prices as dealers scramble to replenish their stocks. For the wholesale market, it marks a quick snap back from a steep decline in the spring. And while dealers now have no problem unloading vehicles at auction, obtaining used vehicles they can sell… Read Article

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Summer Sales Forecast for Auto Retail – Charlie Chesbrough, Cox Automotive 07/10/2020 CBT News, July 10, 2020 – Cautious optimism is the sentiment many dealers are feeling as the auto retail industry settles into Q3. After strong showings for sales, considering the challenges, in May and June, some experts say that the boom from pent up demand will slowly fade. Others, however, are predicting an aggressive recovery through the end of the year due to an increase in… Read Article

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vAuto’s Brian Finkelmeyer Discusses New Car Market Insights and Inventory Strategies 07/01/2020 CBT News, July 1, 2020 -- Dealers are facing a unique situation in many markets, where consumer demand is actually higher than supply according to Cox Automotive's Bureau of Economic Analysis and Wards Automotive data. In fact, in this past May, non-fleet sales increased 63 percent after bottoming out in April. Brian Finkelmeyer, senior director of new car solutions at vAuto, joins Jim Fitzpatrick to break… Read Article

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Margin for Error Just Got Smaller in New-Car Operations 06/29/2020 WardsAuto, June 29, 2020 – The U.S. consumer and economy are returning to some semblance of normalcy, but the new-car business is likely to be anything but normal for the foreseeable future. Dealers are facing a rare situation in many markets: Consumer demand is higher than supply. Online shopping metrics are off the charts across various Cox Automotive properties, such as Autotrader and Kelley Blue Book, as… Read Article

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Inventory Drops Off as Buyers Return 06/15/2020 Automotive News, June 15, 2020 – Automaker and dealer inventories fell sharply in May as retail sales recovered from their late March lows and production continued to ramp up after lengthy stoppages. While most automakers declined to report their inventory figures, those that did saw steep declines in their days' supply to start June, thanks in large part to a much stronger daily sales rate in… Read Article

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Daily Drive Podcast: The Hidden Threats to a Full Recovery 06/15/2020 Automotive News, June 15, 2020 – Cox Automotive Chief Economist Jonathan Smoke joined Automotive News Publisher Jason Stein for a daily podcast series about the coronavirus crisis. Smoke says inventory shortages, fewer incentives, weaker demand and tightening auto loan standards could slow the industry's sales momentum in the second half of the year. Listen to the episode. Read Article

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Being Frontline Ready – How the Effectiveness of Your T2L Processes Can Affect Your Bottomline 06/15/2020 Dealer News Today, June 15, 2020 – Getting vehicles frontline ready has never been more important for dealerships. Prior to COVID19, consumers were already moving more and more to online car researching and buying. Estimates put this customer online activity at over 60%. They are going to fewer and fewer dealerships and over 40% are only going to one store. What does this mean for your… Read Article

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Cox Automotive CEO Sandy Schwartz Talks About ‘The Way Forward’ in Retail Auto and May’s Spike in Car Sales 06/11/2020 CBT News, June 11, 2020 – In this segment, Sandy Schwartz, president and CEO of Cox Automotive, talks to CBT’s Jim Fitzpatrick about how the auto industry is approaching recovery efforts, the unexpected spike of auto sales in May, and much more. Watch the episode. Read Article

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