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6 min read
High Interest Rates and Slow Economy Repress U.S. Automobile Dealer Sentiment
09/08/2023
ATLANTA, Sept. 8, 2023 – Overall dealer sentiment in the U.S. held mostly steady in Q3 2023 compared to Q2, as high interest rates and economic concerns weigh heavily on the U.S. auto market, according to the Cox Automotive Dealer Sentiment Index (CADSI). The Q3 current market index was 45, still below the threshold of 50, indicating that more dealers see the current auto market as…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
8 min read
As Inventory Concerns Begin to Fade, Economic Uncertainty and High Interest Rates Take Center Stage for U.S. Automobile Dealers
06/07/2023
ATLANTA, June 7, 2023 – Overall dealer sentiment in the U.S. improved slightly in Q2 2023, according to the quarterly Cox Automotive Dealer Sentiment Index released today. The current market index is now at 45, up from 43 in Q1 but still below the threshold of 50, indicating that more dealers see the current auto market as weak than see the market as strong. The Q2…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
6 min read
Cox Automotive Dealer Sentiment Index: Strong U.S. Auto Market Performance Expected in Q2
03/09/2023
ATLANTA, March 9, 2023 – U.S. automobile dealer sentiment in the first quarter of 2023 was little changed from the level recorded in Q4 2022 and remains at the lowest level since the height of the global COVID-19 pandemic, according to the Cox Automotive Dealer Sentiment Index (CADSI). At 43, the current market index is below the threshold of 50, indicating more dealers view the current auto…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
3 min read
Cox Automotive Acquires FleetNet America
02/28/2023
ATLANTA (Feb. 28, 2023) – Driven to keep the world’s fleets moving efficiently, safely and sustainability, Cox Automotive today announced the acquisition of fleet industry leader FleetNet America®. With the acquisition, Cox Automotive Mobility and FleetNet are creating the foundation that will transform operating a fleet, where every vehicle, and every service is connected. “The market leadership that comes with this joining of our two companies is unmatched in…
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Cox Automotive Mobility
Press Releases
9 min read
Cox Automotive’s Car Buyer Journey Study Shows Growing Frustration with Car Buying Process
01/18/2023
ATLANTA, Jan. 18, 2023 – New research released today by Cox Automotive shows that satisfaction with the car buying process declined in 2022 for the second straight year. The 2022 Car Buyer Journey Study reveals vehicle buyers were frustrated with high prices, limited availability, and the amount of time required to complete the process. Used-vehicle buyers, who are often more price sensitive and face higher interest…
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Car Buyer Journey
Press Releases
All
Press Releases
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3 min read
BYD Motors, Cox Automotive Announce Groundbreaking Service Partnership in U.S. Market
09/28/2023
ATLANTA (Sept. 27, 2023) – BYD Motors and Cox Automotive announced today the two companies have entered into a service agreement that covers BYD customers and their growing fleets of class 6 and class 8 trucks within the United States with 24/7 roadside support and a nationwide network of EV-trained service technicians. “This agreement with a nationally respected fleet services leader in Cox Automotive bolsters the…
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Press Releases
Fleet
EV
Press Releases
7 min read
New-Vehicle Market Shrugs Off High Loan Rates, UAW Strike, Closes Q3 on a Strong Note; September Sales Forecast by Cox Automotive to be Up 13% Year Over Year
09/26/2023
Updated, Oct. 4, 2023 – As forecast by Cox Automotive late last month, new-vehicle sales in Q3 in the U.S. were solid, spurred on by vastly improved inventories, higher fleet sales and consumers still in market despite elevated prices and high auto loan rates. Initial estimates suggest the Q3 new-vehicle market finished slightly above Cox Automotive’s 15%, 3.93 million forecast, up from 3.42 million in Q3…
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new-vehicle sales
sales forecast
SAAR
Press Releases
4 min read
Cox Automotive Names Scott LeTourneau Chief Financial Officer
09/15/2023
ATLANTA, Sept. 15, 2023 — Cox Automotive announced today that Scott LeTourneau will become its new executive vice president and chief financial officer, effective September 19, 2023. LeTourneau has been with Cox since 2012 in various corporate development roles, most recently serving as senior vice president of corporate development for parent company Cox Enterprises. He is a proven finance leader with deep expertise in executing strategic…
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Press Releases
6 min read
High Interest Rates and Slow Economy Repress U.S. Automobile Dealer Sentiment
09/08/2023
ATLANTA, Sept. 8, 2023 – Overall dealer sentiment in the U.S. held mostly steady in Q3 2023 compared to Q2, as high interest rates and economic concerns weigh heavily on the U.S. auto market, according to the Cox Automotive Dealer Sentiment Index (CADSI). The Q3 current market index was 45, still below the threshold of 50, indicating that more dealers see the current auto market as…
Read Article
Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
3 min read
Cox Automotive Forecast: With New-Vehicle Inventory at a Two-Year High, August Auto Sales Expected to Increase Nearly 19% Year Over Year
08/24/2023
ATLANTA, Aug. 24, 2023 – New-vehicle sales, when announced next week by automakers, are expected to once again show big gains over last year but a slight decline in the sales pace from last month. A key reason for the volume gain is new-vehicle inventory hitting its highest level in more than two years. Stronger fleet sales are also expected to support higher sales volumes. The…
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new-vehicle sales
sales forecast
SAAR
Press Releases
2 min read
Cox Automotive Acquires Corcoran’s Mobile Services
08/09/2023
ATLANTA (Aug. 9, 2023) – Cox Automotive today announced the acquisition of leading onsite fleet maintenance provider Corcoran’s Mobile Services (CMS). The acquisition further expands Cox Automotive’s nationwide fleet maintenance coverage, underscoring its continued commitment to safely servicing trucks and trailers. “We thrive on delivering a seamless experience 24/7, powered by our more than 1,400 elite technicians ensuring customers’ fleets keep moving,” said Ted Coltrain, VP of Operations,…
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Cox Automotive Mobility
Press Releases
5 min read
Cox Automotive Forecast: New-Vehicle Sales Accelerate in July
07/26/2023
Update, Aug. 2, 2023 – New-vehicle sales in July likely came in near 1.30 million, an increase of more than 15% over year-ago levels and very close to the Cox Automotive forecast (below) published last week. (Hat tip to our senior economist.) Vastly increased inventory levels and a general improvement in consumer sentiment are helping fuel stronger sales in the U.S. Recovering fleet business – notably…
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new-vehicle sales
sales forecast
SAAR
Press Releases
5 min read
Cox Automotive’s Upside Offering Expands to the West Coast, Linking Sellers and Buyers Across the U.S.
07/14/2023
ATLANTA – July 14, 2023 – After a successful launch and aggressive expansion in the eastern U.S., Cox Automotive has now enabled sellers in California to join in the Upside™ wholesale experience. This significant expansion brings on sellers throughout California, making it easier for buyers in the western half of the country to find attractive inventory closer to home in the Upside Direct sale. To date,…
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Press Releases
6 min read
Manheim Report: Used Vehicle Values Fall for Third Straight Month; Wholesale Prices Down More Than 10% Year Over Year
07/10/2023
ATLANTA, July 10, 2023 – The Manheim Used Vehicle Value Index (MUVVI) declined to 215.1 in June, ending the first half of 2023 down 10.3% from a year ago. Additionally, wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased by 4.2% in June. This decrease, a record for June, was impacted by the seasonal adjustment and other factors, including multiple holiday weekends. The…
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Manheim Used Vehicle Value Index
MUVVI
Press Releases
8 min read
Cox Automotive Forecast: New-Vehicle Sales to Increase More Than 11% Year Over Year Through the First Half of 2023
06/27/2023
Updated, July 6, 2023 – In the first half of 2023, the U.S. new-vehicle market has been surprisingly strong, with sales volume increasing more quickly than forecast as the industry’s inventory issues faded. Sales in June, as we’ve seen in many months prior this year, surprised to the upside, with volume beating the Cox Automotive forecast. The June sales pace has been initially estimated at 15.7…
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new-vehicle sales
sales forecast
SAAR
Press Releases
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