Cox Automotive full-year projection is over 15% decline from 2019

Cox Automotive’s full-year forecast remains at 14.3 million units, a 16% drop from the year prior, with November sales projection expected to drop approximately 150,000 units or at 11%. | Pixabay

Cox Automotive’s full-year forecast remains at 14.3 million units, a 16% drop from the year prior, with November sales projection expected to drop approximately 150,000 units or at 11%.

The SAAR forecast by Cox Automotive for November 2020 is estimated to be down to 15.8 million from last year’s 17.0 million level.

Considering there are several possible challenges, including the impact of COVID-19 and other factors, it’s difficult to determine if the year will end with a strong sales pace nor start 2021 better, according to PR Newswire.

“The tight inventory situation, where available products at dealerships were drawn down to very low levels, reached a peak in late summer. However, factory production has improved while sales pace has slowed, and the combination is allowing dealerships to replenish somewhat. Overall, supply still remains far below last year’s levels, and holiday sales may slow if buyers can’t find what they want,” Cox Automotive senior economist Charlie Chesbrough said.

November 2020 Sales Forecast

Sales Forecast1 Market Share
Segment Nov-20 Nov-19 Oct-20 YOY% MOM% Nov-20 Oct-20 MOM
Mid-Size SUV/Crossover 210,000 225,374 234,324 -6.8% -10.4% 17.4% 17.2% 0.1%
Compact SUV/Crossover 190,000 242,779 215,638 -21.7% -11.9% 15.7% 15.8% -0.1%
Full-Size Pickup Truck 190,000 216,056 213,240 -12.1% -10.9% 15.7% 15.7% 0.0%
Mid-Size Car 90,000 103,730 104,221 -13.2% -13.6% 7.4% 7.7% -0.2%
Compact Car 85,000 114,014 93,444 -25.4% -9.0% 7.0% 6.9% 0.2%
Grand Total2 1,210,000 1,419,419 1,360,908 -14.8% -11.1%
1 Cox Automotive Industry Insights data
2 Total includes segments not shown

Source: Cox Automotive full-year projection is over 15% decline from 2019