Market Insights and Outlook - Cox Automotive Inc.

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Auto Market Weekly Summary 11/30/2020 November saw a record number of new COVID-19 cases and hospitalizations. Consumer confidence is declining, and consumer spending decelerated in October before we began to see weekly increases in initial claims for unemployment in November. The 13.7 million consumers who are receiving unemployment benefits from coverage provided by the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act will see their income support end the day… Read Article

Market Insights Smoke on Cars Economy & Trends

How Cox Automotive Navigates Growing Global Workforce Challenges 11/25/2020 Global Atlanta, Nov. 25, 2020 – Only about 10 percent of Atlanta-based Cox Automotive's $7 billion in revenues come from outside the U.S., a number the company hopes to grow as it continues to serve clients in more than 100 countries. But that hasn’t insulated it from the challenge of managing a workforce that has become increasingly international as Cox has stepped up its digital game during… Read Article

News Coverage

Week #36 Special Edition: Economic Impact on Auto Sales with Jonathan Smoke 11/24/2020 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

Everything About 2020 Is Different, Including Year-End Deals 11/24/2020 Can you hear that chorus of retailers singing, “It’s the most wonderful time of the year”? Thanksgiving is a couple of days away, but we are already seeing it: Christmas trees at Lowe’s, Holiday Deals on Amazon, and plenty of television ads with Santa leading a fleet of white cars with red bows – as Lexus always says, “…a December to Remember.” But this year definitely… Read Article

Market Insights Commentary & Voices

Cox Automotive November Forecast: Seasonality Weakens U.S. Auto Sales After Months of Recovery 11/24/2020 ATLANTA, Nov. 24, 2020 – U.S. auto sales for November are expected to show a market that is now weakening after months of recovery from April’s historic low seasonally adjusted annual rate (SAAR). The sales pace for light vehicles is expected to fall to 15.8 million this month, down from last year’s 17.0 million pace, but more importantly down from last month’s 16.2 million level. A… Read Article

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Another Gift From 2020: Car Buyers Seeking Black Friday Deals Likely Out of Luck This Year 11/23/2020 CNBC, Nov. 23, 2020 – The coronavirus pandemic is ending yet another annual holiday tradition for shoppers in 2020: Black Friday deals on new cars. Instead of offering the steep discounts to clear out older inventory, many automakers are having a hard time resupplying dealer lots with enough inventory after shutting down factories earlier the year to try to curb the outbreak this spring. That’s left… Read Article

News Coverage

Auto Market Weekly Summary 11/23/2020 Daily new COVID-19 cases continue an upward trend that is producing records. We saw more than 186,000 on Thursday. At this pace, we will likely see 200,000 today or tomorrow. Hospitalizations are also at new record highs, and daily deaths are rising. Consumer sentiment plummets: This third and bigger wave of COVID-19 is taking a toll on consumer sentiment. The index of consumer sentiment from Morning… Read Article

Market Insights Smoke on Cars Economy & Trends

Loans in Accommodation Decrease, Delinquencies Increase in October 11/20/2020 We have observed auto loan credit loosening this fall, and access to all types of auto loans continued to improve in October. However, access remains tighter than year-ago and pre-pandemic availability levels. Credit access for used vehicles sold by independent dealers improved the most in October. On a year-over-year basis, all loan types are tighter, with certified pre-owned having tightened the most while independent used has… Read Article

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Used-Vehicle Supply and Prices on the Rise 11/18/2020 Used-vehicle inventory, which had been rising modestly in recent weeks, accelerated more quickly to open the month of November, and the average listing price set a new record, according to a Cox Automotive analysis of vAuto Available Inventory data. As of Nov. 2, the total U.S. supply of unsold used vehicles stood at 2.56 million, up from 2.35 million a month ago, but still down from… Read Article

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Q3 2020 Kelley Blue Book Brand Watch Report: Luxury SUV Shopping Soars to New Heights 11/18/2020 Shopping for luxury SUVs soared to new heights in the third quarter, a trend likely to continue with the onslaught of upcoming new models, according to the Kelley Blue Book Brand Watch™ report for the luxury segment. The Brand Watch Report is a consumer perception survey that also weaves in consumer shopping behavior to determine how a brand or model stacks up with its segment competitors… Read Article

Kelley Blue Book Brand Watch Market Insights Commentary & Voices

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