COX AUTOMOTIVE AUTO MARKET REPORT

Translating Data and Trends into Actionable Insights

August 3, 2021

COVID-19 DAILY CASE AND VACCINATION TRENDS

Source: Cox Automotive

CONTINUING CLAIMS AT 3.3 MILLION NATIONALLY

Source: Department of Labor

ACTIVITY DECREASED LAST WEEK BUT FULLY RECOVERED IN SEVERAL STATES

Source: Moody’s Analytics and CNN Business

CONSUMER SENTIMENT DECLINED LAST WEEKMorning Consult’s Index of Consumer Sentiment on Monday was down 17.3% since February 29, 2020

Source: Morning Consult

113.3

81.23

89.53

101.08100.16 99.96

94.12

93.72

60

70

80

90

100

110

120

1/1/20 2/1/20 3/1/20 4/1/20 5/1/20 6/1/20 7/1/20 8/1/20 9/1/20 10/1/20 11/1/20 12/1/20 1/1/21 2/1/21 3/1/21 4/1/21 5/1/21 6/1/21 7/1/21 8/1/21

ICS Value (7-Day Average)

SENTIMENT SHIFTS ACROSS MARKETS

Since February 29, 2020 Since July 26, 2021

Source: Morning Consult

RETAIL SALES ESTIMATES

Source: Cox Automotive

-60.0%

-50.0%

-40.0%

-30.0%

-20.0%

-10.0%

0.0%

10.0%

20.0%

2021 and 2020 % Change vs. 2019 in Retail Sales by Week

New Y/Y 20 Used Y/Y 20 New 21/19 Used 21/19

ZERO PERCENT FINANCING DOWN TO END JULY

Source: Cox Automotive

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

Jan

-18

Feb

-18

Mar

-18

Ap

r-1

8

May

-18

Jun

-18

Jul-

18

Au

g-1

8

Sep

-18

Oct

-18

No

v-18

Dec

-18

Jan

-19

Feb

-19

Mar

-19

Ap

r-1

9

May

-19

Jun

-19

Jul-

19

Au

g-1

9

Sep

-19

Oct

-19

No

v-19

Dec

-19

Jan

-20

Feb

-20

Mar

-20

Ap

r-2

0

May

-20

Jun

-20

Jul-

20

Au

g-2

0

Sep

-20

Oct

-20

No

v-20

Dec

-20

Jan

-21

Feb

-21

Mar

-21

Ap

r-2

1

May

-21

Jun

-21

Jul-

21

0% APR Finance Share

RETAIL INVENTORY IMPROVING FOR USED

Source: Cox Automotive

0

20

40

60

80

100

120

140

160

180

2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50

New Days’ Supply

2019 2020 2021

0

10

20

30

40

50

60

70

80

90

2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50

Used Days’ Supply

2019 2020 2021

RETAIL USED PRICES NOW DECLINING

Source: Cox Automotive

85%

90%

95%

100%

105%

110%

115%

120%

125%

130%

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52

MY 2018 Retail and Wholesale Price Index

2020 Retail Index 2021 Retail Index 2020 Wholesale Index 2021 Wholesale Index

SALES IMPACT VARIES BY DMA AS EVIDENCED BY UNIQUE CREDIT APPS

April 5, 2020 (vs same-week 2019) August 1, 2021 (vs same-week 2019)

Source: Cox Automotive

COX AUTOMOTIVE LEADING INDICATORS

• Leads in July on Autotrader were down 15% y/y and on Kelley Blue Book were up 17%; compared to 2019, both were up. Leads declined in July from June on Autotrader but increased on Kelley Blue Book.

• Dealertrack unique credit applications on same-store basis were down 13% y/y and down 22% against 2019 last week, and the weekly trend improved slightly

• Xtime saw completed service appointments unchanged y/y last week; against 2019, appointments completed were down 11%, and the weekly trend declined slightly