Fred Dubon’s Post

🚗📈 Exciting Update from Cox Automotive! 📈🚗 In their latest forecast for August 2024, Cox Automotive Inc. is projecting some intriguing shifts in the U.S. auto sales landscape. According to their report, we're seeing a mix of strong demand for both new and used vehicles, coupled with a steady recovery in inventory levels. Key highlights include: - New Vehicle Sales: A notable uptick is anticipated, driven by continued consumer interest and new model releases. - Used Vehicle Market: Despite supply chain challenges, the used car market remains robust with resilient prices. - Inventory Trends: Improvement in inventory levels is expected to ease some pressure and offer more choices for buyers. This forecast underscores a dynamic period for the automotive industry, with opportunities for growth and adaptation on the horizon. It’s a great time to stay informed and agile in this ever-evolving market! #AutoIndustry #CoxAutomotive #MarketTrends #AutomotiveForecast #CarSales #IndustryInsights

USA ■ September Car Sales Projected Down 13%! The number of new cars sold in the U.S. in September 2024 is expected to be less than in September 2023. J.D. Power and GlobalData projected in their joint September forecast that retail and non-retail new vehicle purchases for September 2024 would be 960,500, down 13.2 percent from September 2023's numbers (1,129,659 units). September sales are expected to be down in large part due to the timing of Labor Day weekend. Auto sales calendars do not follow traditional standards of measurement from Sunday through Saturday, first of the month through the last day of the month. Rather, they look at selling days. Car dealerships are usually closed at least one day a week, meaning that there are fewer than 28 to 31 selling days per month. September 2024 had 23 selling days. September 2023 had 26. When adjusted for the number of selling days, September 2024 car sales are projected to have been just 1.8 percent less than September 2023's numbers. "September sales volumes will be lower than a year ago because of a calendar quirk that saw the Labor Day holiday weekend fall into the August sales month. This boosted August's sales but will diminish September's sales from a year ago," Thomas King, president of data and analytics at J.D. Power said in a press release. #JDPower #Automotive #Autonews

🚗 The U.S. auto sales outlook for the second half of 2024 suggests a shift in momentum, with expected growth slowing to approximately 15.7 million units, a modest 1.3% increase from last year. This comes amidst rising vehicle inventory levels, increased incentives, and broader economic uncertainties, including fluctuating interest rates and the upcoming presidential election. For OEMs and automotive dealers, these developments pose challenges in maintaining recent sales successes. Explore the full analysis and implications for the industry's dynamics here: https://lnkd.in/gDhsiQqE #AutoIndustry #USAutoSales #EconomicOutlook #OEM #AutomotiveIndustry #Automotive #Dealer #Dealership

June 2024 Canadian Auto Sales The streak is over – but is it really? Coming into the month the Canadian market had seen 19 straight months of year over year increases. However, June 2024 sales as estimated by DAC came in at 169 thousand – dead even with the June 2023 total. Moreover, undoubtedly impacting the market was the CDK software outage that since June 19 has interrupted the sales process at a significant number of dealers. Given the outage, coming in even feels like a win – with an increased array of sub-vented interest rates and incentives helping to maintain market momentum. Andrew King, Managing Partner of DAC commented that “The June SAAR of 1.72 million was a slight step up from May which is a definitive positive given the DMS issue. However, sales figures are still far below industry highs, with June sales exceeding 200 thousand units in both 2018 and 2017.” From a YTD perspective the market came in at an estimated 924 thousand units – a robust 10.4% above the 2023 6-month total. A few performances of note include: General Motors continues to lead the market overall in terms of volume with sales of close to 141 thousand units during the first 6 months of the year Fiat saw the strongest growth from a percentage perspective thanks to the new Fiat 500e Among larger volume brands, Volkswagen led in terms of percentage gain with sales up a remarkable 53.9% to over 40 thousand units Subaru of America followed closely behind with a sales gain of 43.4% YTD, reaching approximately 36 thousand units Hopefully July will see a rebound from the software related issues – with delayed sales being recovered quickly. With interest rates starting a downward cycle and the inventory issues behind us, we will be watching closely to see how much momentum the market can hold on to as pent-up demand starts to wane. #automotive #autoindustry #radio #radioadvertising #radioworks

Auto dealers may not be keen on current market conditions, but they have a sunny outlook for the near term. Cox Automotive explains where they fall from various angles: https://loom.ly/prrMxIw #future #sales #automotiveoutlook

The U.S. new-vehicle market is expected to rebound in July following disruptions in June caused by a cyberattack on CDK Global's dealership software. Cox Automotive forecasts a seasonally adjusted annual rate (SAAR) of 16.0 million, with sales potentially boosted by transactions delayed from last month. Discover how these factors could impact July's final tally and the automotive market outlook for the rest of 2024. #USAutoMarket #CDKGlobal #CoxAutomotive #AutoIndustry

Sales of vehicles for 2024 have kicked off to a strong start, surpassing the numbers from the first half of 2023. However, experts predict a decline for the remaining year, failing to exceed the sales of 2023. This forecast spells good news for consumers looking to make a purchase. If you've been contemplating buying a vehicle for some time now, this might be the opportune moment! #VehicleSales #ConsumerOpportunity #Motorlease #WhateverItTakes

New Vehicle Sales Reach Post-Pandemic Highs: What This Means for Dealership Owners and Valuations New data from Cox Automotive Inc. reveals that new vehicle sales have reached their highest monthly rate since the pandemic, with November's Seasonally Adjusted Annual Rate (SAAR) hitting 16.5 million. This marks the highest SAAR since May 2021, which had a monthly SAAR of 17.0 million. This resurgence signals that the improvements in new vehicle affordability, as highlighted in our Q3 2024 Haig Report®, are finally translating into higher sales volumes—a development that has significant implications for dealership values. https://hubs.la/Q030fWNC0

[NEWS] New vehicle sales are expected to surge in December: Demand has been on the rise throughout Q4 — especially after the election — And this month — sales are forecast to hit 1.47M units — 7.7% higher than November. Putting 2024 full-year sales at 15.85M vehicles — up 2.3% from last year. What’s behind the jump? Slightly lower interest rates, much higher incentives, and renewed confidence from consumers. And these factors are also setting the industry up for a strong 2025 — In fact — analysts predict full-year sales of 16.3 million units next year — the highest level since 2019. Bottom line: 2024 set the stage — but 2025 is gearing up to be the main event. Read today’s top automotive stories, presented by Dealer Pay: https://lnkd.in/eSF7UZ-y (Data source: Cox Auto)