Keeping Up - Cox Automotive (Not Motorsports) Report June 28, 2022

Atlanta June 29, 2022; Yesterday, the Cox Automotive Industry Insights team held its annual Mid-Year Review conference call. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough and other members of the team shared their insights (and some music, see below) on how the first half of 2022 has unfolded for the auto industry. It's been an interesting six months. 

To help summarize where we are – and where we are going – we have a number of quick links we hope you find helpful. 

First, we've posted a replay of yesterday's conference call. You can watch that on the Cox Automotive Newsroom and download a copy of the full presentation

The team also shared their June and first-half new-vehicle sales forecast yesterday, which has also been posted in the Cox Automotive Newsroom. We are lowering our full-year numbers, as tight inventory continues to be a difficult headwind for the industry. 

Additionally, Jonathan and the team provided an assessment of how well our Ten Predictions for 2022 are holding up. All crystal ball work is difficult, and forecasting in 2022 is proving particularly so. Still, many of the fundamental shifts our team had anticipated are indeed coming to life. You can read Jonathan's notes in Smoke on Cars. 

Lastly, Brian Finkelmeyer, our senior director of new-vehicle sales strategies, has been thinking about what might happen to the auto industry – eventually – when new-vehicle supply begins to flow freely again. Many are speculating that automakers will work to limit inventory, to hold onto newfound pricing power. Brian is not convinced. Read his thoughts here: Who Will Automakers Listen To – the Angels or the Devils?

Our team will have an update to the June forecast on Friday, as new-vehicle sales numbers are initially confirmed. And, as always, if you have any questions or would like to speak to someone on the Cox Automotive team, feel free to reach out. We'd be happy to help. 

We hope you have a safe and enjoyable July Fourth Weekend. If you're looking for a holiday soundtrack, or something to help get the work done today, our resident Chief Economist DJ has posted his Summer 2022 playlist on Spotify, music inspired by the current auto market. Take a listen. Enjoy! 

Cheers,