Automotive News Newsletter Cox Automotive


You are welcome from the newsroomA roundup of news from Cox Automotive and the perspectives of its analysts and experts on the topics that dominate the automotive industry.

We are in recession. No, we are not in recession. Yes we. no we do not, This is the gist of last week’s news cycle. Jonathan Smoke, chief economist at Cox Automotive, says there is no evidence of a broad market slowdown, and in the Auto Market Reports video published this morning, he notes: If we see inflation start to ease, that could dent consumer confidence. boost, which will help save the US economy from recession.

For more perspective, read smoke scene On recession odds, inflation, and how the country’s economic ups and downs are affecting both the new and used auto markets. And check smoking ideas What the Fed’s decision last week means for auto buyers and how the ongoing rate hike will affect the overall market.

as predicted in Cox Automotive ForecastAs of July, US auto sales appear to have changed slightly from June results, as supply constraints continue to impact the new vehicle market. Preliminary results from some automakers are being published this morning.

Plus, in this newsletter, we highlight quarterly market performance reports for major automakers as they announce quarterly earnings, including hyundai motor, Ford Motor Company, General Motors, Nissan And stellantis,

Bonus Material: Recently in an article titled F&I for the Ecommerce Future, Paulo de Silva, Vice President of Cox Automotive Ecommerce, explains how advanced automation and artificial intelligence can enhance consumer transparency and personalization and improve retailer efficiency.

We hope that you have found this selection of articles informative and helpful. to visit Cox Automotive Newsroom For the latest on the industry’s most important topics, bookmark more auto market snapshotOne-stop dashboard for the data being tracked by our team.

Recovery headwinds mount as July US auto sales slump

Last week, Cox Automotive’s July US auto sales forecast was suggesting that the market will see little change from June’s results, as supply constraints are plaguing the new vehicle market. The team expects the seasonally adjusted annual rate (SAAR) of new vehicle sales in July to increase slightly to 13.2 million from the 13.0 million pace last month, but down from last year’s level of 14.7 million. Volumes are projected to decline by about 13%.

We’ll have a full July measurement by the end of the week, but as Charlie Chesbrough, senior economist at Cox Automotive, noted, “July results will likely be another reminder of how the U.S. auto market has turned a few years ago, before the pandemic.” Today’s auto market, running on a continuous 35-day supply, simply cannot support the volume that many of us took for granted. The old market, with over 70 days of supply, is a fading one. memory, and returning About 17 million annual sales are likely to take years. This new US auto market is a lean operation, with monthly retail sales of around 1 million units being the norm. Now the challenge? Learn how to operate profitably in this new environment and be prepared to move as the market moves.,

keep calm and move on

Contrary to popular belief, GDP has declined for two consecutive quarters No The official US definition of recession. Instead, the National Bureau of Economic Research, the nonprofit that determines when the US economy has entered recession, considers many factors beyond GDP, including real income, employment, industrial production, and consumer spending. Huh. Jonathan Smoke, chief economist at Cox Automotive, says there is no sign the consumer is holding back, and the US is not in a broad market recession.

The new vehicle market remains limited by supply and the associated high prices and low incentives, which prevents sales volumes from increasing. However, in the smoke note auto market report video Published this morning: ,In the used-vehicle market, we see a lot of potential with normal levels of supply and a reduction in prices. It should create more opportunities and more demand later this summer and fall.,

Read Auto Market Weekly Summary And Watch Auto Market Report Video For more data and insights from Smoke to new and used retail sales and inventory, depreciation patterns and Cox Automotive key indicators.

Fed offers higher auto rates with more promise in July

The latest news from the Federal Reserve was released last week. Most watchers were expecting another big interest rate hike as Fed Chair Jerome Powell and his team pursued their “whatever it takes” policy to quell rapid price inflation. And that’s exactly what we got. The Fed raised the target for the federal funds rate by three-quarters of a percent and remained firm in its goal of containing inflation.

Read Jonathan Smoke’s comment What the Fed’s decision means for auto buyers and how the ongoing rate hike will affect the overall market.

The used-vehicle market is back to normalcy, and that’s good news for the industry.

during our quarter Mannheim Used Vehicle Value Index (MUVVI) Conference Call Last month, there were several questions related to the health of the US economy, inflation and the impact of inflation on used vehicle prices.

Jonathan Smoke noted during the call that the US economy has faced several headwinds so far in 2022, and consumer sentiment is indeed a big concern. Consumer sentiment further declined in the second quarter as Americans deal with rising prices, a turbulent stock market and increasingly negative politics. It rose 3% in July from a record low in June, but remains bleak and likely won’t improve significantly until more and more experts are publicly asking, “Are we in a recession? “

Read Smoke’s perspective On recession odds, inflation, and the state of the new and used auto markets.

Cox Automotive Market Performance Reports: GM and Nissan fall, other automakers beat expectations

It’s earnings season, and the Cox Automotive Industry Insights team is keeping a close eye on the performance of major automakers in the US market. So far, Hyundai Motor, Ford Motor Co and Stelantis have outperformed analysts’ expectations, reporting impressive gains, especially on strong sales of higher-margin vehicles.

Both General Motors and Nissan fell short of expectations due to production issues, but the days ahead are bright as supply chain woes improve.

view data points Hyundai, Payab, GM, Nissan And stellantis For the quarterly market performance report covering US sales volume, incentive spend and average transaction prices. Honda and Toyota data will be posted in the coming days.

F&I for an ecommerce future

Consumers have become accustomed to the transparency, speed and convenience of online shopping. Cox Automotive research shows that 76% of today’s car shoppers are completely open to online shopping, and 1 in 4 consumers say they prefer an Amazon-like car shopping experience, where they get a foothold at a dealership. will not be required. While not all of those shoppers today will be shopping completely online, they do want the opportunity to complete more shopping steps using digital channels.

Read the F&I for the Ecommerce FutureAn article by Paulo da Silva, Vice President of Cox Automotive Ecommerce, explores how advanced automation and artificial intelligence technology can enhance consumer transparency and personalization and improve retailer profitability.

looking aheadSee: in the newsroom Wednesday, Aug. 3 for a quarterly report by Toyota Motor Corporation on US market performance. The non-luxury edition of the Q2 Kelley Blue Book Brand Watch Report will be published on Thursday, August 4. And we’ll report the Mannheim Used Vehicle Value Index in July, a leading indicator for things to come in the retail used-vehicle market. On Friday 5 August.

Next week, the luxury edition of the Q2 Kelley Blue Book Brand Watch Report will be published. We will also post a market performance report on Honda ahead of the earnings announcement on Wednesday, August 10. Check back in the newsroom for new July content, including the DealerTrack Credit Availability Index, the Kelley Blue Book Average Transaction Price, and certified pre-owned sales. ,

If you have any questions or want to connect with Cox Automotive PR Team In the meantime, don’t hesitate to contact us.

auto quote

“The F&I process is often described as complex, manual and difficult to manage by retailers and opaque to consumers. Through advanced automation and artificial intelligence, technology has the power to address these pain points by increasing consumer transparency and personalization while improving retailer profitability. ,

– Paulo da Silva, Vice President of Cox Automotive Ecommerce in his article F&I for the Ecommerce Future,

Copyright 1996- Auto Channel.


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