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Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.
Cox Automotive’s latest Dealer Sentiment Index shows a marked disparity in optimism and fear factors between America’s new- and used-car dealers.
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.
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.
ATLANTA and GRAPEVINE, Texas – Cox Automotive Inc. (CAI) today announces the acquisition of Intersection Technologies Inc. d/b/a F&I Express. F&I Express is dedicated to leading the aftermarket industry into the digital age with innovative technology solutions. The deal furthers Cox Automotive’s mission to transform the way the world buys, sells, owns and uses cars. Both ... Read More » The post Cox Automotive Acquires F&I Express® appeared first on P&A Magazine.
Cox Automotive released the findings of its Future of Digital Retail Study, with results showing that the current dealership model needs to change with consumer preferences, but that the dealership remains central to car buying. While most consumers prefer completing at least one step of the car buying process online, most car buyers want to ... Read More »