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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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Cox Automotive Analyst Zo Rahim Breaks Down CPO Sales and Market Forecasts 10/23/2020 CBT News, Oct. 23, 2020 – While dealers struggle with new-vehicle inventory, used-vehicle sales have become an emphasis for many dealers. Despite this, certified pre-owned sales have struggled since the beginning of the COVID-19 pandemic. CPO sales have been on the decline ever since stores were forced to change their daily operations, and they remain down 7% overall. Zo Rahim, manager of economics and industry insights for… 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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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

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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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Strength of Used-Car Sales Hinges on Potential Stimulus 10/08/2020 Auto Remarketing, Oct. 8, 2020 – There is likely to be 36.1 million used-vehicle sales this year, according to the latest forecast from Cox Automotive. But that projection, and the company’s forecast for new-car sales, could hinge on whether another federal stimulus package arrives.To better illustrate that dynamic during Wednesday’s quarterly Manheim Used Vehicle Value index call, Cox Automotive's Jonathan Smoke turned to the music of… Read Article

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Wholesale Prices Cool in September After Three Months of Record Highs 10/07/2020 ATLANTA, Oct. 7, 2020 – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.58% month over month in September, the first month-over-month drop in wholesale values since May. The Manheim Used Vehicle Value Index for September was 161.2, a 15.2% increase from a year ago. Manheim Market Report (MMR) prices declined at an accelerating pace over the four full weeks of September,… Read Article

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Virus Set to Snap CPO Sales Streak in 2020 10/05/2020 Automotive News, Oct. 5, 2020 – After nine straight years of setting records, sales of certified pre-owned vehicles are set to decline in 2020. Blame the coronavirus pandemic. CPO sales took a hit in the spring when many dealerships were shut down for several weeks and shoppers stayed home on government orders. While the numbers have since rebounded, total CPO sales in the U.S. fell 8.8… Read Article

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Tight Inventories Set the Stage for U.S. Auto Industry Rebound 09/28/2020 Reuters, Sept. 28, 2020 – U.S. automakers are facing a problem most forecasters and industry executives did not expect when the pandemic slammed the economy this spring: Strong demand and lean inventories at dealerships. Automakers report September U.S. sales on Thursday, and forecasters expect the annualized sales pace will exceed the August rate of 15.2 million vehicles. Consumer demand for high-profit SUVs and pickup trucks has… Read Article

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Auto Inventory Levels Reach New Lows Amid Strong August Sales 09/07/2020 CBT News, Sept. 7, 2020 – Inventory is scarce right now, that’s no secret, and the used car market has been hit especially hard. This has left many dealers wondering how and when their pre-COVID inventory levels will return. Watch this episode to learn about the current state of inventory supply and the impact it will have on the industry over time from Michelle Krebs, executive… Read Article

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Restocking Dealer Lots a Tough Task for Industry 08/17/2020 Ed Sheehy, the longtime president of Southeast Toyota Distributors, has every right to yell it from the rooftops: He told you so. Relatively strong retail sales and continued production hiccups from COVID-19 have pushed new-vehicle inventories nationwide down to just 2.3 million vehicles, according to figures tabulated by Cox Automotive and confirmed by the Automotive News Data Center. It's the lowest nationwide inventory level since November… Read Article

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