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High consumer demand and low inventories have allowed Ford to push average transaction prices to new highs.
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The digital platform enables consumers to transact 100% online.
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The latest trends in key indicators suggest wholesale used vehicle values will continue to see depreciation in the days ahead.
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Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
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James Davis, customer strategy and insight director (commercial vehicles) for Cox Automotive Europe, passed on July 11, 2021. He was 47 years old. In this position, Davis assumed an industry thought leadership role that involved building, sustaining, and evolving deep long-term open trust relationships with customers, business partners, suppliers, and industry bodies.
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Market watchers had been expecting this slowdown to come earlier in the summer, but deals could still be made. Now there just isn’t enough product available.
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Cox Automotive Analysis: Fleet sales are still stuck in first gear, estimated to have increased by only 5% year over year but remain down by more than 40% from 2019.
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Cox Automotive has announced the acquisition of the Ghent-based fleet software company FleetMaster. The Belgian company, which also has an office in Long Beach, California, is a specialist in cloud-based workflow technology for the rental, leasing and dealership sectors.
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Fleet sales decreased month over month but rose steeply year over year. Sales into rental rocketed 531% year over year.
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Cox Automotive Commentary: The third quarter will be the industry’s toughest in 2021, and our analysts are forecasting second-half sales to finish below first half.
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