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Cox Automotive’s latest Dealer Sentiment Index shows a marked disparity in optimism and fear factors between America’s new- and used-car dealers.
Cox Automotive Rates & Incentives now features automated data input, dynamic transaction templates, and advertised specials, all designed to deliver data faster and with improved accuracy.
U.S. sales of new cars and light trucks fell 1.2% year-over-year in August, a sales month that extended through the Labor Day weekend and set new records for Honda, Toyota, and Subaru.
July deliveries increased 1.3% in the first monthly U.S. new-vehicle sales report to include none of the Detroit 3 automakers, but the seasonally adjusted annualized rate fell below 17 million for the fourth time this year.
Cox Automotive’s 2019 Dealership Staffing Study finds approximately 20% of dealership staff are likely to look for another job in the next six months, a problem that could be solved with a greater focus on attracting younger generations to dealership work.
Eddie Hall III, general manager at Royal Oak, Mich.-based The Hall Automotive Group, has been named this year’s Rising Star Award winner by Cox Automotive and the National Association of Minority Automotive Dealers.
U.S. dealers sold 2.6% fewer new cars and light trucks in June than in the same month a year ago, but standout performances in key segments kept the seasonally adjusted annualized selling rate above 17 million for the second straight month.
Cox Automotive analysts say U.S. dealers reported strong traffic and profits but have remained largely pessimistic in their view of the auto retail market in the second quarter.
U.S. dealers sold slightly fewer new vehicles last month than in May of 2018, but the annual forecast increased to 17.4 million units — thanks in no small part to strong fleet sales.
The annual forecast for U.S. light-vehicle sales fell to 16.41 million as volume fell 2.3% year-over-year in an April that was expected to bring the year’s first gain following an underwhelming first quarter.