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Lift in Fleet Volume Offsets Sagging January Sales

January fleet sales edged higher than expected, easing the decline in new-vehicle sales, according to fresh data from Cox Automotive. Total fleet sales rose 10% year over year in January to nearly 216,000 units, driven mostly by an increase in sales to rental car companies. In January, 67% of fleet vehicles were sold to rental […]

Fleet Sales to Hit Skids in 2019

While fleet sales grew 7% in 2018, volume will likely remain flat this year, a new Cox Automotive report shows.  "Will fleet sales increase again in 2019? We don’t believe so," Cox wrote in the report. Fleet sales totaled 2.7 million units last year. Commercial fleet volume, up 9% to 743,000 units, was a primary driver […]

How Smaller Tax Refunds Could Impact Auto Finance in 2019

The potential for fewer or decreased tax returns as a result of the 2017 tax act will likely bring down vehicle sales this spring, Chief Executive of JoyDrive Hunter Gorham told Auto Finance News. “Consumers use the tax refund as a whole down payment, and they won’t be a buyer [this year] without that down […]

5 Trends to Watch: 2019 Promises to be an Interesting Year

From the January issue: The pace of U.S. growth is expected to slow, according to most economists, who also think interest rates will rise. There is uncertainty about tariffs and, beyond the economic factors, the race between different lenders, dealers, and manufacturers to overhaul products and services is picking up. But perhaps the biggest challenge […]

Sedan Sales Marketshare Falls to Record Low in November

Sedan popularity has dropped to an all-time low, as evidenced by November’s new-vehicle sales figures. As a percentage of new-vehicle sales, sedan — or “car” — segment marketshare dropped to 28.8%, the lowest monthly share on record, according to Cox Automotive unit Manheim. By comparison, the segment that comprises light-duty pickups, vans, SUVs, and crossovers […]

Slowing OEM Production to Fuel Affordability Challenge, Analyst Says

Recent OEM exits of lower-priced vehicle segments will limit availability and squeeze auto affordability in 2019, said Jonathan Smoke, chief economist at Cox Automotive Inc. “We’re starting to see announcements from major manufacturers about ceasing production of mostly more affordable cars, and so that reduces the number of units available for sale,” Smoke said. In […]
  • Bianca Chan
  • December 6, 2018
  • Risk
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