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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

Press Releases

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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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

Press Releases

Cox Automotive Forecast: August New-Vehicle Sales Pace Slowest of 2021 Due to Low Supply 08/25/2021 UPDATED Sept. 1, 2021 – With new-inventory extremely tight for most brands across the country, a slowdown in sales compared to July was widely expected. Initial reports indicate that tight inventory is now negatively impacting sales at nearly all brands. A few will ultimately squeeze out small year-over-year gains – Acura, Mazda – but a vast majority will be down in August. Given the severity of… Read Article

Press Releases

Cox Automotive Mobility and Arizona’s Institute of Automated Mobility Work to Advance Automated Vehicle Development and Safety 08/10/2021 PHOENIX (August 10, 2021) – Cox Automotive Mobility, a division of Cox Automotive committed to advancing the world’s fleets to serve the next generation, will be joining the Institute of Automated Mobility (IAM), a public-private consortium established by Governor Ducey in 2018 to shape the future of transportation safety, science and policy. The collaboration will leverage emerging technologies to advance mobility solutions with an emphasis on safety and… Read Article

Press Releases

Cox Automotive Forecast: Tight Supply Puts Brakes on New-Vehicle Sales 07/27/2021 UPDATED August 4, 2021 – The automotive sales pace in July slowed substantially, as tight vehicle supply severely limited sales at some automakers. The Cox Automotive Industry Insight team had forecasted slowing sales, as available inventory at the start of July was at the lowest point in memory. Days of supply had dropped to 29, according to an analysis of vAuto Available Inventory data. Inventory levels have generally… Read Article

new-vehicle sales sales forecast U.S. auto sales Press Releases

Electrified Vehicle Sales Accelerate Significantly in Q2 2021, According to Kelley Blue Book Report 07/26/2021 IRVINE, Calif., July 26, 2021 – While the U.S. automotive market has experienced growth this year in nearly every vehicle segment, Kelley Blue Book today reports no segment is growing more quickly and relentlessly than electrified vehicles – defined as the combined total of electric vehicles (EVs), hybrids and plug-in hybrids. New-vehicle demand is up across the board as the country emerges from the depths of last… Read Article

Press Releases

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

Wholesale Used Vehicle Prices Peak According to Latest Manheim Data 07/08/2021 ATLANTA, July 8, 2021 – Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.3% month over month in June, after record highs for four consecutive months. This brought the Manheim Used Vehicle Value Index to 200.4, a 34.3% increase from a year ago and a 1.3% decrease from a high of 203 in May. “After several months of record highs, all indicators… Read Article

Manheim Used Vehicle Value Index MUVVI Press Releases

Cox Automotive June Forecast: Tight Inventory, High Prices Slow New-Vehicle Sales 06/28/2021 ATLANTA, June 28, 2021 – June U.S. new-vehicle sales are expected to showcase a market still well above last year’s levels but one that is slowing after a frenzied spring buying season. Vehicle sales in June are forecast by Cox Automotive to fall to a seasonally adjusted annual rate (SAAR) of 16.4 million, up from last year’s 13.0 million but down from May’s 17.0 million pace. … Read Article

sales forecast U.S. auto sales 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

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