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The Latest Breaking News from Cox Automotive

2 Auto Stocks to Buy, 1 to Hold in October

The auto industry remains well positioned for growth thanks to the significant decline in inflation since last year’s high and improving supply chains. Strong demand for new vehicles is expected to boost the industry’s prospects. Therefore, one could consider buying fundamentally strong stocks, Wabash National Corporation (WNC) and Blue Bird…

StockNews.com

How the UAW strikes could impact car shoppers

Historic as the UAW strikes may be, analysts say the actions are unlikely to impact car prices too much — for now. A new strike on parts distribution centers, however, could sting.

WEKU

Average Electric Vehicle Prices Plummet As Oversupply Concerns Grow

Analyst predicts that increasing EV inventory and falling prices could have a positive impact on EV adoption in the long run.

InsideEVs

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3 Auto Stocks Setting up for Potential Gains

With the pent-up demand for new vehicles, improving inventory levels, and growing transition to EVs worldwide, the automotive industry is well-positioned for robust growth and expansion. Therefore, fundamentally strong auto stocks Stellantis (STLA), Volvo (VLVLY), and Rolls-Royce (RYCEY) could be valuable additions to your portfolio for impressive gains. Keep reading….

StockNews.com

Looking for a new car under $20,000? Good luck. Your choice has dwindled to just one vehicle

Just five years ago, a price-conscious auto shopper in the United States could choose from among a dozen new small cars selling for under $20,000

The Independent UK

Looking for a new car under $20,000? Good luck. Your choice is down to just one vehicle

The Mitsubishi Mirage sells for $19,205 at a time when the average new vehicle in the U.S. has a sales price of $48,000. And used vehicles sell for about $29,000.

Chicago Sun-Times

Looking for a new car under $20,000? Good luck. Your choice has dwindled to just one vehicle

Just five years ago, a price-conscious auto shopper in the United States could choose from among a dozen new small cars selling for under $20,000

The Independent UK

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4 Auto Stocks with Great Quality

The auto industry is expected to perform well this year due to the easing of inflation, increase in production, healthy job growth, and improving consumer sentiment. To that end, investors should consider quality auto stocks Tesla (TSLA) Mercedes-Benz (MBGAF), Bayerische Motoren Werke Aktiengesellschaft (BMWYY), and Stellantis N.V. (STLA). Read more.

StockNews.com

New EV Prices Down 20% Compared To Last Year: Kelley Blue Book

In June 2022, the ATP for new all-electric vehicles sold in the US was $66,390. In other words, the average price of EVs went down by nearly $13,000 in one year.

InsideEVs

Unsold electric cars are piling up on dealer lots

There's a growing mismatch between EV supply and demand.

Axios

EV Sales Fail To Keep Up With Dealer Inventory Levels

Purchases fail to keep up with dealers’ ability to fill their lots with EVs that end up collecting dust for about three months before being sold.

InsideEVs

U.S. Auto Sales Jump For GM And Ford. But EV Momentum Sluggish.

Higher vehicle production is seen driving growth for U.S. auto sales. Cox Automotive raised its sales forecast for the full year.

Investors Business Daily

Cox Automotive increases its 2023 new-vehicle sales forecast

Analysts at Cox Automotive are expecting a much brighter year for U.S. auto sales in 2023 with an improvement in fleet sales leading to expected sales of 15 million, up from the previous prediction of 14.1 million.

Tribune News Service

Bankrate:Why is it harder to get a car loan in 2023?

When the time comes to purchase your next vehicle, you want to focus on finding your dream car, not fighting for affordable financing. But since the pandemic’s early days, the car market has shifted. Inflation made finding competitive rates challenging, and supply chain issues pushed average car prices above MSRP.

Tribune News Service

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StockNews.com

3 Auto Stock to Buy Into this Week

Despite the uncertain macroeconomic environment, auto sales will likely remain robust throughout the year. Auto dealers will continue to benefit from rising sales of new and used vehicles. Additionally, the pent-up demand for travel is expected to boost the auto rental industry. To that end, it could be wise to…

Motor1

Automakers Will Struggle To Sell Vehicle Subscription Services: Study

Only 21 percent of respondents were aware of the concept.

InsideEVs

Average EV Transaction Price Down Over $10,000 Year Over Year: KBB

Kelley Blue Book says the average transaction price of a new EV in the US was around $55,000 in April 2023. Meanwhile, the average new car price is $48,275.

Fortune

Elon Musk’s aging Tesla sedans will soon face fresh competition from an unlikely corner

Volkswagen just unveiled its ID.7 sedan, the brand’s third global EV model, which is expected to hit U.S. shores next year and compete with Tesla’s Model 3 and Model S.

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StockNews.com

2 Crash and Burn Stocks That Won't Make It Through April 2023

The used car business is feeling the pressure of high inflation and rising borrowing rates. With further rate hikes by the Fed in the pipeline, it could be wise for investors to steer clear of fundamentally weak used car retail stocks CarMax (KMX) and America's Car-Mart (CRMT). Read more….

Investors Business Daily

U.S. Auto Sales Grow In Q1 As Inventories Rise, Led By 18% Jump For GM

After a tough 2022, analysts say Q1 U.S. auto sales are likely to grow more than expected, led by General Motors, Ford and Tesla.

WEKU

Why car prices are still so high — and why they are unlikely to fall anytime soon

WEKU

Car prices are still high and they are unlikely to fall anytime soon

WEKU

Why car prices are still so high — and why they are unlikely to fall anytime soon

The average new vehicle costs nearly $49,000, an almost $10,000 increase from before the pandemic. This is a look at today's deeply weird auto market.

Fortune

Car loan payments push Americans ‘closer to the financial edge’ with severe delinquency rate the highest in 17 years

More Americans are struggling to make their car payments.

Axios

Used car market flashing inflation warning

Used cars are not poised to benefit from stabilizing supplies in 2023.

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