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U.S. Auto Dealer Sentiment Tumbles in Q4, as Continued Concerns Over Interest Rates and the Economy Cloud Future Prospects 12/07/2023 ATLANTA, Dec. 7, 2023 – The Cox Automotive Dealer Sentiment Index (CADSI) reveals a significant decrease in U.S. auto dealer sentiment in Q4 2023 compared to Q3. This decline is attributed to the ongoing adverse effects of high interest rates and a weakening economy on the automotive market. The latest survey illuminates several areas where dealer sentiment has dipped to all-time lows after showing relative stability… Read Article

Cox Automotive Dealer Sentiment Index CADSI Press Releases

Cox Automotive Service Study: Dealerships Losing Ground to General Repair Shops as Costs and Visit Frequency Increase 12/05/2023 ATLANTA, Dec. 5, 2023 – New research released by Cox Automotive today on the U.S. vehicle service industry shows that franchised dealerships continue to lose share to general repair shops. In the latest report – Under the Hood: Opportunities and Challenges in the Service Industry – franchised dealerships are shown to retain their position as the industry’s top service provider but have lost ground to service… Read Article

Service Service Industry Study Press Releases

Digital Retailing Tools Save Time in Car Buying, Improve Customer Satisfaction While Offering Dealers Opportunities to Create More Personalized Experiences 11/17/2023 ATLANTA, Nov. 17, 2023 – Nearly all car dealers currently using digital retailing tools claim it has positively impacted their business, especially in customer experience and satisfaction, according to Cox Automotive’s 2023 Digitization of Car Buying Study. Capturing data from shoppers, buyers, and franchise dealers, Cox Automotive’s latest research on the state of digital retailing underscores how commonplace it is and the improvements it has added… Read Article

Digital Retailing Digitization of Car Buying Press Releases

New Cox Automotive Study: EV Consideration at Record High, but Dealers Feel Unprepared 06/27/2023 ATLANTA, June 27, 2023 – Despite growing interest, a gap exists between consumer enthusiasm for electric vehicles (EVs) and their actual purchasing decisions, according to new research released today by Cox Automotive. The 2023 Path to EV Adoption: Consumer and Dealer Perspectives study also reveals a lack of EV readiness among U.S. automotive dealers regarding sales and service. As EV inventories continue to climb, dealers must… Read Article

Electric Vehicles EVs Electrified Vehicles Press Releases

Rapid Growth: Sales of Used Electric Vehicles Increase by 32% in Q1, According to Cox Automotive Estimates 04/07/2023 ATLANTA (April 7, 2023) – According to data assembled by Cox Automotive, the world’s largest automotive services and technology provider, the market for used electric vehicles (EVs) in the U.S. is beginning to accelerate rapidly as more used EVs become available and buyers snap them up. The rapid growth of new EV sales in the U.S. has been well documented; Cox Automotive is forecasting sales of… Read Article

Electric Vehicles EV sales Cox Automotive Mobility Press Releases

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U.S. Auto Dealer Sentiment Tumbles in Q4, as Continued Concerns Over Interest Rates and the Economy Cloud Future Prospects 12/07/2023 ATLANTA, Dec. 7, 2023 – The Cox Automotive Dealer Sentiment Index (CADSI) reveals a significant decrease in U.S. auto dealer sentiment in Q4 2023 compared to Q3. This decline is attributed to the ongoing adverse effects of high interest rates and a weakening economy on the automotive market. The latest survey illuminates several areas where dealer sentiment has dipped to all-time lows after showing relative stability… Read Article

Cox Automotive Dealer Sentiment Index CADSI Press Releases

Wholesale Used-Vehicle Prices Decrease in November 12/07/2023 Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 2.1% in November from October. The Manheim Used Vehicle Value Index (MUVVI) dropped to 205.0, down 5.8% from a year ago. “While November’s decline was only slightly less than October’s, the move lower was on our radar, given the typical seasonal downward trend that paused in August and September,” said Chris Frey, senior manager… Read Article

Manheim Used Vehicle Value Index MUVVI Market Insights Data Point

Fleet Sales Fall Again in November 12/06/2023 In November, sales into large rental, commercial, and government fleets decreased compared to the previous year. An analysis of Bobit’s data by Cox Automotive revealed that there was an 8.9% drop in sales to large fleets (excluding dealer and manufacturer fleets) in November, with 146,685 units sold. In addition, sales to government fleets increased by 8.0%, and rental fleets experienced a 1.2% increase. However, commercial fleets… Read Article

Fleet fleet sales Market Insights Data Point

Register Today: Cox Automotive Industry Insights 2024 Webcast 12/05/2023 Join Cox Automotive Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, and the Industry Insights team for Cox Automotive Industry Insights 2024, a special webcast recapping 2023 and providing a 2024 outlook. Monday, Jan. 8 11 a.m. EST. This 60-minute session will provide a comprehensive update on the U.S. auto industry, covering the new, used, and wholesale markets for 2023, along with insights and data from Cox… Read Article

Market Insights Commentary & Voices

Cox Automotive Service Study: Dealerships Losing Ground to General Repair Shops as Costs and Visit Frequency Increase 12/05/2023 ATLANTA, Dec. 5, 2023 – New research released by Cox Automotive today on the U.S. vehicle service industry shows that franchised dealerships continue to lose share to general repair shops. In the latest report – Under the Hood: Opportunities and Challenges in the Service Industry – franchised dealerships are shown to retain their position as the industry’s top service provider but have lost ground to service… Read Article

Service Service Industry Study Press Releases

Cox Automotive Auto Market Report: December 5th 12/05/2023 The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Download this week’s presentation Read Article

Market Insights Smoke on Cars Economy & Trends

Auto Market Weekly Summary 12/04/2023 Economic growth for the third quarter was revised up in the latest estimate to the strongest in almost two years. Accelerating growth in consumer spending was a major driver of the growth, but the opposite is happening in the fourth quarter. Consumer spending grew in October but at a decelerated pace. The savings rate increased slightly. The Personal Consumption Expenditure Index’s measures of inflation are at… Read Article

Market Insights Smoke on Cars Economy & Trends

Trade Winds Are Shifting in the Auto Business 11/29/2023 Catching trade winds is the fastest way for sailors to navigate across the ocean. Everyone loves it when the winds are at their back, but trouble can arise when the winds change, and they eventually do. The auto industry has been sailing for the past 3 years with forceful tailwinds generated by COVID-induced economic stimulus and reduced vehicle production. Automakers and dealers alike have enjoyed turning… Read Article

Market Insights Commentary & Voices

Cox Automotive Forecast: New-Vehicle Sales Pace Remains Muted Despite Higher Inventory Levels 11/24/2023 Updated, Dec. 5, 2023 – Early indications suggest the new-vehicle sales pace in November came in at a seasonally adjusted annual rate of 15.3 million, aligned with the Cox Automotive forecast released late last month. Industry sales volumes were likely up more than 7% year over and year November and slightly higher than October. As noted in our forecast, new-vehicle sales typically gain momentum in the… Read Article

new-vehicle sales sales forecast SAAR Press Releases

Manheim Market Insights Series: Episode 15 11/21/2023 Welcome to the monthly Manheim Market Insights update. Jeremy Robb, senior director of economic and industry insights at Cox Automotive, offers a monthly check-in on what we are seeing in the used wholesale and retail markets, all through the wide lens of the data available from Cox Automotive. This month’s video highlights the midmonth Manheim Used Vehicle Value Index (MUVVI), wholesale inventory, sales conversion, Manheim Market Report (MMR)… Read Article

Manheim Market Insights Market Insights Commentary & Voices

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