Auto News From COX Automotive

Welcome to From the Newsroom, a roundup of news from Cox Automotive and perspectives from its analysts and experts on topics dominating the automotive industry.

“We have already seen wild volatility in the stock market this month and shifts in the election polls,” noted Chief Economist Jonathan Smoke in the Auto Market Report published this morning. “This week features the Democratic National Convention and a conference hosted by the Fed, where future rate direction could be revealed. Buckle up, as we are likely in for more rounds of volatility.”
 
July data was on a rollercoaster ride with many ups and downs. Auto credit availability was down for the fourth consecutive month, meaning all lender types and channels tightened credit access for new vehicles. At the same time, new-vehicle prices were lower year over year for the 10th consecutive month, and new-vehicle incentives grew to their highest level this year. Meanwhile, inventory levels were stable.
 
In the used-vehicle market, used-vehicle retail sales and prices were up in July, while used-vehicle inventory was down. Wholesale used-vehicle prices are up in the first 15 days of August.
 
Worth a Read: Check out the latest article from Brian Finkelmeyer, senior director of Insights and Advisory at Cox Automotive: China Races for Gold in the EV Olympics.
 
Save the Date: Plan to join us for the Q3 Cox Automotive Industry Insights and Sales Forecast Call, a live event on Wednesday, Sept. 25.

Auto Market Snapshot, a one-stop dashboard for the data our team is tracking. The next newsletter will be published on Wednesday, Sept. 4, due to the Labor Day holiday.

Volatility: The Word of the Month

published this morning, Chief Economist Jonathan Smoke explained that the first half of August saw massive volatility in the stock market, but halfway through the month, we are seeing strength in the retail vehicle market.
 
Smoke warned, “Keep your seatbelts buckled as the election, geopolitics and the Fed are all likely to create more volatility over the next several weeks.”
 
video for more data and insights from Smoke on new and used retail sales and inventory, auto financing, and Cox Automotive’s leading indicators.