• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
    • Overview
    • Distribution by PR Newswire
    • Cision Communications Cloud®
    • Cision IR
    • All Products
  • Contact
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases
      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview
      • Multimedia Gallery
      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview
      • Trending Topics
      • All Trending Topics
  • Business & Money
      • Auto & Transportation
      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview
      • Business Technology
      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview
      • Financial Services & Investing
      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview
      • General Business
      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview
  • Science & Tech
      • Consumer Technology
      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview
      • Energy & Natural Resources
      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview
      • Environ­ment
      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview
      • Heavy Industry & Manufacturing
      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview
      • Telecomm­unications
      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview
  • Lifestyle & Health
      • Consumer Products & Retail
      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview
      • Health
      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview
      • Sports
      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview
      • Travel
      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview
  • Policy & Public Interest
      • Policy & Public Interest
      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview
  • People & Culture
      • People & Culture
      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview
      • In-Language News

      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Policy & Public Interest
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • People & Culture
    • People & Culture
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

Cox Automotive February Forecast: U.S. Auto Sales Remain Relatively Strong Despite Challenges

- February sales pace forecast to reach near 16.3 million, down from last month's solid 16.6 million pace, and down from last year's 16.8 million level.

- Sales pace remains relatively strong in February despite challenges from the ongoing pandemic and short-term winter weather disruptions.

- With two fewer selling days compared to last year, February sales volume is expected to fall 9.4% and finish near 1.24 million units.

Cox Automotive (PRNewsfoto/Cox Automotive)

News provided by

Cox Automotive

Feb 23, 2021, 17:35 ET

Share this article

Share this article


ATLANTA, Feb. 23, 2021 /PRNewswire/ -- February sales when reported next week are expected to show a relatively strong vehicle market in the U.S., though slowing from January's robust post-holidays pace. The seasonally adjusted annual rate (SAAR) of sales this month is forecast by Cox Automotive to be near 16.3 million, down from January's 16.6 million level and below last year's 16.8 million. However, given ongoing pandemic turmoil and related job losses, coupled with the big freeze in Texas, results could have been much worse.

February is normally one of the slowest sales months in a given year, as many consumers pull back in spending following the year-end shopping season, and adverse winter weather often suppresses vehicle shopping in many parts of the country. This year, weather will play a bigger-than-normal role, as the deep freeze that impacted markets as far south as Houston disrupted millions of lives and businesses for days and likely reduced vehicle purchases as well.

Cox Automotive forecasts February U.S. auto sales remain relatively strong despite challenges.

Tweet this

According to Charlie Chesbrough, senior economist at Cox Automotive: "Texas accounts for nearly 1 out of every 11 vehicles sold, so the short-term impact on sales from this event will be felt. However, it's likely only a blip in the overall sales picture, as sales are expected to recover for the quarter."

For the U.S., sales volume is expected to fall more than 9% from February 2020, which seems like a large decline. However, there are two fewer selling days this month compared to last year, so a decline is expected. When seasonally adjusted, U.S. auto sales are forecast to be down around 3% year over year.

February 2020 was a milestone month for auto sales: The last full month of sales before COVID-19 struck the country, delivered a significant blow to the economy, and severely impacted the vehicle market. The auto market has bounced back, though, and for vehicle sales to be down just slightly this February is a pleasant surprise for all industry observers. Key obstacles remain to a full market recovery, with tighter inventories, slowing economic recovery, and varied vaccine distribution all potential disruptions. However, at this point in 2021, none of these issues seem to be significantly holding back the market.

A February sales pace of 16.3 million keeps the market on course for a strong recovery from 2020. The Cox Automotive full-year forecast is for 15.7 million sales in 2021, up from 14.5 million in last year.

February 2021 Sales Forecast Highlights

  • In February, new light-vehicle sales are forecast to fall nearly 128,000 units, or 9.4% compared to February 2020. When compared to last month, sales are expected to rise nearly 12%. When seasonally adjusted for two fewer selling days, the year-over-year decline is closer to 3%.
  • The SAAR in February 2021 is forecast to be 16.3 million, below last year's 16.8 million level, and a mild decrease from last month's 16.6 million pace.

February 2021 Forecast


Sales Forecast1

Market Share


Segment

Feb-21

Feb-20

Jan-21

YOY%

MOM%

Feb-21

Jan-21

MOM


Mid-Size SUV/Crossover

215,000

226,477

189,492

-5.1%

13.5%

17.3%

17.1%

0.2%


Compact SUV/Crossover

205,000

233,013

182,921

-12.0%

12.1%

16.5%

16.5%

0.0%


Full-Size Pickup Truck

185,000

200,290

163,397

-7.6%

13.2%

14.9%

14.8%

0.2%


Compact Car

90,000

107,507

77,415

-16.3%

16.3%

7.3%

7.0%

0.3%


Mid-Size Car

85,000

116,009

74,918

-26.7%

13.5%

6.9%

6.8%

0.1%


Grand Total2

1,240,000

1,368,020

1,106,469

-9.4%

12.1%





1 Cox Automotive Industry Insights data 

2 Total includes segments not shown  

All percentages are based on raw volume, not daily selling rate.

Auto Sales Should Catch up as Texas Thaws
One key storyline in February will be sales volumes of pickup trucks and large SUVs. Hard hit Texas accounts for an outsized proportion of sales in those segments, which will negatively impact the numbers for Chevrolet, Ford, GMC and Ram this month.

As noted in a post last week in the Cox Automotive Newsroom, the auto market should recover quickly from the short-term impact of a mid-month weather event, although the situation in Texas has grown beyond just a weather event. Longer-term issues – damaged infrastructure, a lack of water in some markets – could depress the big Texas market for days to come.

If there's a silver lining to be found, we'd look no further than Ford Motor Company. Notes Cox Automotive Executive Analyst Michelle Krebs, "When Texans were out of power, the nation started seeing stories of owners of the all-new Ford F-150 pickup using their on-board generators to power their houses. That was marketing gold for Ford, as it perfectly fits their Build Ford Tough image. Ford has been battling some negative news lately on quality and recalls, so I am sure the good news was welcome indeed."

About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five countries and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues of nearly $20 billion. www.coxautoinc.com

SOURCE Cox Automotive

Related Links

www.coxautoinc.com

Modal title

Also from this source

Hot Auto Market Sends Wholesale Vehicle Prices Soaring to Record...

Hot Auto Market Sends Wholesale Vehicle Prices Soaring to Record...


Cox Automotive March Forecast: U.S. Auto Sales Pick Up Pace...

Cox Automotive March Forecast: U.S. Auto Sales Pick Up Pace...

Explore

More news releases in similar topics

  • Automotive
  • Transportation, Trucking & Railroad
  • Sales Reports
  • Earnings Forecasts & Projections

    Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

    Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

    About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement

    • Asia
    • Brazil
    • Canada
    • Czech
    • Denmark
    • Finland
    • France
    • Germany
    • India
    • Israel
    • Italy
    • Mexico
    • Middle East
    • Netherlands
    • Norway
    • Poland
    • Portugal
    • Russia
    • Slovakia
    • Spain
    • Sweden
    • United Kingdom

    My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2021 Cision US Inc.