Cox Automotive forecasts 1.25 million new-vehicle sales in September 2019, which would represent a 14% drop from the previous year.
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Cox Automotive’s chief economist, Jonathan Smoke, said he didn’t expect the Fed’s latest move to match the impact of the July cut for auto manufacturers or dealers.
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Cox Automotive is forecasting 1.38 million U.S. auto sales in July, which would represent a 0.5% increase from the same time last year.
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AutoNation Inc. announced that CFO Cheryl Miller has been appointed president and CEO, replacing Carl Liebert, who joined the company in February. She becomes the first female CEO of a publicly traded automotive retailer.
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The used industry's seasonally adjusted annual rate (SAAR) was 39.8 million during June, down from the 41.1 million SAAR from the same time last year, according to Cox Automotive estimates.
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U.S. new-vehicle dealers sold 1,328,649 cars and light trucks in April, a 2.3% year-over-year decline and a full 3% loss to start the year compared with the first four months of 2018.
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Retail sales will reach approximately 1,041,600 units, which represents a 5.3% decrease from the same time last year.
Read More →EchoPark doubled the amount of used vehicles it sold in the first quarter of 2019, signaling a growing demand for used vehicles.
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Vehicle depreciation accounted for 32.9% of the total cost of ownership over the past 12 months, which continues a three-year trend of declining depreciation costs, according to a new study from Motus.
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Following a lower-than-expected February, Cox Automotive is forecasting March U.S. auto sales volume to hit 1.547 million, an increase from last month, but a nearly 7% decline from March 2018.
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