Cox Automotive Commentary: The third quarter will be the industry’s toughest in 2021, and our analysts are forecasting second-half sales to finish below first half.
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A Cox Automotive forecast predicts the recent sales frenzy will slow as inventory constraints are pulling the market back down to earth.
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Strong spring sales thanks to tax refunds and stimulus checks depleted the supply.
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While prices bounce up during springtime, this year's qualify as a leap, an economist says.
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Cox Automotive has acquired Fyusion, a computer vision company that provides immersive vehicle imaging solutions for the automotive wholesale market and other industries.
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Wholesale used vehicle prices increased 0.9% in the first 15 days of October compared to the month of September, bringing the mid-month Manheim Used Vehicle Value Index to 162.7, a 16.0% increase from October 2019.
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Wholesale used vehicle prices increased 3.64% month over month in August, bringing the Manheim Used Vehicle Value Index to 163.7 a 15.8% increase from a year ago and another record-high for the Index, which also occurred in June and July of 2020.
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Wholesale used vehicle prices increased 5.84% month over month in July, bringing the Manheim Used Vehicle Value Index to 158 a 12.5% increase from a year ago and another record-high for the Index, which also occurred in June.
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Cox Enterprises has named Steve Rowley as the new president of Cox Automotive, effective Aug. 3, and will take over for current president and CEO Sandy Schwartz, who moves to a role as CEO of the Cox Family Office.
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Wholesale used vehicle prices increased 8.95% month over month in June, bringing the Manheim Used Vehicle Value Index to 149.3, a 6.3% increase from a year ago and a new record-high for the Index.
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