Automotive Industry:United States: Difference between revisions

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[[US Auto Cox Sales: Historical Releases]]

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|<ref>https://www.coxautoinc.com/market-insights/used-retail-vehicle-sales-june-2024/</ref>

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[[File:Screenshot 2024-07-24 101659.png|center|thumb|927x927px|https://www.coxautoinc.com/wp-content/uploads/2024/06/2024-Cox-Automotive-Mid-Year-Review-Presentation.pdf]]

[[File:Screenshot 2024-07-24 101711.png|center|thumb|921x921px|https://www.coxautoinc.com/wp-content/uploads/2024/06/2024-Cox-Automotive-Mid-Year-Review-Presentation.pdf]]

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!<ref>https://www.coxautoinc.com/market-insights/used-retail-vehicle-sales-march-2024/</ref>

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[[File:Screenshot 2024-04-18 110126.png|center|thumb|855x855px|https://www.coxautoinc.com/wp-content/uploads/2024/03/Q1-2024-Cox-Automotive-Industry-Insights-and-Forecast-Call-Presentation.pdf]]

[[File:Screenshot 2024-04-18 110214.png|center|thumb|848x848px|https://www.coxautoinc.com/wp-content/uploads/2024/03/Q1-2024-Cox-Automotive-Industry-Insights-and-Forecast-Call-Presentation.pdf]]

In the first quarter of 2024, Americans bought 268,909 new electric vehicles. EV share of total new-vehicle sales in Q1 was 7.3%, a decrease from Q4 2023.<ref>https://www.coxautoinc.com/market-insights/q1-2024-ev-sales/</ref>

* Banks reported tightening most queried terms on auto loans, on net. In particular, a moderate net share of banks reported wider interest rate spreads on such loans, while modest net shares reported higher minimum repayments and higher minimum credit score requirements.

[[File:Screenshot 2024-07-24 104651.png|center|thumb|790x790px|https://www.coxautoinc.com/wp-content/uploads/2024/06/2024-Cox-Automotive-Mid-Year-Review-Presentation.pdf]]

[[File:Screenshot 2024-04-18 105744.png|center|thumb|790x790px|https://www.coxautoinc.com/market-insights/2024-cox-automotive-forecasts-full-year/]]

[[File:Screenshot 2024-01-12 131349.png|center|thumb|784x784px|https://www.coxautoinc.com/market-insights/2024-cox-automotive-forecasts-full-year/]]

* With '''new-vehicle''' inventory levels improving as demand slows, Cox Automotive forecasts 3% YoY new-vehicle sales growth in 2023, with the market hitting '''14.2 million units.'''

* For '''used cars''', it expects YoY growth of -1.66% to reach '''36.2 million''' units in 2023. <ref name=":1">https://www.coxautoinc.com/wp-content/uploads/2023/01/Jan-12-2023-Cox-Automotive-Industry-Insights-and-Forecast-Call-Presentation.pdf High Quality Source</ref>

* JPM research expects prices to decline by 2.5% to 5% for new cars and by 10% to 20% for used cars in 2023.<ref>https://www.jpmorgan.com/insights/research/when-will-car-prices-drop#:~:text=Average%20prices%20were%20up%2042.5,to%2020%25%20for%20used%20cars</ref>

* Cox Automotive expects a 1.6% increase in the December YoY MANHEIM USED VEHICLE VALUE INDEX. <ref name=":1" />

* The total '''used-vehicle sales''' forecast for 2023 has been revised down slightly by Cox Automotive to be '''35.7 million, 2% below 2022.'''

* Used car index down -1.1% Y/Y on December 2023.

* '''The Manheim Used Vehicle Value Index forecast is expected to finish the year down 2.2% year over year.''' Risks remain in the fourth quarter, including the United Auto Workers strike, a possible economic slowdown, and political uncertainty that puts downward pressure on consumer sentiment.<ref name=":4">https://www.coxautoinc.com/news/september-2023-muvvi/</ref>

* The total '''used-vehicle sales''' forecast for 2023 remained the same by Cox Automotive to be '''35.7 million, 2% below 2022.'''

* Cox Automotive raised its '''new car sales full-year forecast to 15.4 million''', from 15 million in June.

== Auto Industry behaviour during recession ==

See: [[Auto Industry Cyclicality]]

== References ==