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Total Used-Vehicle Sales Down 12% YOY in June
Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
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.
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.
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.
A Cox Automotive forecast predicts the recent sales frenzy will slow as inventory constraints are pulling the market back down to earth.
Cox Automotive Europe, the world-leasing automotive services operation, has created a new Sales Director role and appointed Sam Watkins to the position, effective June 7, 2021. Watkins, who after two years has recently stepped down as Chair of the Vehicle Remarketing Association (VRA), will report to James Leese, Chief Customer Officer for Cox Automotive Europe.
The automotive services provider Cox Automotive announced May 4, 2021 that it is expanding operations into Germany by acquiring pkwNOW, a dealer-to-dealer (D2D) online auction platform.Fitting pkwNOW into the company’s extensive brand portfolio will help Cox Automotive increase its European presence, says the firm and increase sold car volumes in Germany.
Strong spring sales thanks to tax refunds and stimulus checks depleted the supply.
While prices bounce up during springtime, this year's qualify as a leap, an economist says.
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