The Latest Breaking News from Cox Automotive

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.

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.

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…

Only 21 percent of respondents were aware of the concept.

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.

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.

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….

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

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