Associated tags: Cloud, Eye, Weather, Artificial intelligence, Software, Data science, Original equipment manufacturer, Retail, Automotive industry, Kia, OEM, IEI
Locations: TOYOTA, MICHIGAN, TESLA, HONDA, BUICK, CHEVROLET
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Retail GRAND RAPIDS, Mich., May 3, 2024 /PRNewswire/ -- Cloud Theory, the real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates is reporting in May's On the Horizon report that new vehicle inventory, although still growing month-over-month, has begun to stabilize. While new vehicle supply grew by 1% on a month-over-month basis, broader trends are indicating that the automotive industry is shifting from recovery to a more stable picture on the supply side.
Key Points:
- While new vehicle supply grew by 1% on a month-over-month basis, broader trends are indicating that the automotive industry is shifting from recovery to a more stable picture on the supply side.
- Vehicle movement has largely maintained its March gains and is expected to do the same in May.
- Higher incentive levels and seasonal tax refunds have helped to boost demand, though stubbornly high interest rates are still tempering results on the demand front to some extent.
- "After a long period of recovery, we are very near to what will be the new normal of full supply."
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Fireworks GRAND RAPIDS, Mich., April 29, 2024 /PRNewswire/ -- Changes in environmental regulatory requirements for the auto industry over the past six months have shifted focus from Electric Vehicles and created a pathway for Hybrid Vehicles to gain more market share. These changes also shift power away from EV leader Tesla to more Hybrid-focused OEMs.
Key Points:
- "Regulatory requirements and dates have eased, with the Biden Administration slashing EV adoption targets from 67% to 35% by 2032," Wainschel said.
- In Q1 2024, year-over-year Hybrid share of vehicle movement jumped 3.2 percentage points, to 11.6% from 8.4% in Q1 2023.
- "The shift in regulatory focus gives traditional OEMs more options to meet government standards and to appeal to consumers," Wainschel said.
- For the complete eBook "Charging Ahead: Hybrids Come into Sharper Focus as EV Aspirations Meet Reality" download here .
GRAND RAPIDS, Mich., April 3, 2024 /PRNewswire/ -- Cloud Theory, the real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates is reporting in March's On the Horizon that new vehicle inventory increased from February, but it is the sharp 28% month-over-month increase in vehicle movement that headlines this month's results.
Key Points:
- After being range-bound between 0.94M and 1.10M for the last year, movement hit its highest level since May 2021, surging to 1.25M in March.
- While the April forecast is pointing to a dip to 1.20M, that figure will still be higher than recent boundaries.
- The jump in vehicle movement resulted in a six-point gain in turn rate to 44%—the highest level since October 2023.
- To see more trends and forecasts on inventory, movement, segment trends, and inventory efficiency, download a copy of the April 2024 On the Horizon report here .
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Environment GRAND RAPIDS, Mich., March 6, 2024 /PRNewswire/ -- Cloud Theory, the real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates, is reporting that new vehicle inventory reasserted its growth trajectory after January's seasonal dip, increasing from 2.54M to 2.69M. This latest figure exceeds December supply levels (2.64M), pointing to continued momentum as OEMs overcome supply chain issues, solidify their model year changeovers, and pursue new model introductions.
Key Points:
- GRAND RAPIDS, Mich., March 6, 2024 /PRNewswire/ -- Cloud Theory , the real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates, is reporting that new vehicle inventory reasserted its growth trajectory after January's seasonal dip, increasing from 2.54M to 2.69M.
- This latest figure exceeds December supply levels (2.64M), pointing to continued momentum as OEMs overcome supply chain issues, solidify their model year changeovers, and pursue new model introductions.
- After last month's cyclical dip, vehicle movement rebounded, hitting 1.06M and is now up 13% on a MoM basis.
- To see more trends and forecasts on inventory, movement, segment trends, and inventory efficiency, download a copy of the March 2024 On the Horizon report here.
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Thursday, February 8, 2024
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Kia,
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Retail GRAND RAPIDS, Mich., Feb. 8, 2024 /PRNewswire/ -- Cloud Theory, the real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates, is reporting in this month's "On the Horizon," that new vehicle inventory took a step back from its ongoing recovery, dropping from 2.64M in December to 2.53M in January. This interrupts an 11-month run of growth, during which counts grew by more than 1 million. Since inventory also declined in January 2023 amid its long-term revival, this points to a seasonal dip rather than a shift in the longer-term market trajectory.
Key Points:
- This interrupts an 11-month run of growth, during which counts grew by more than 1 million.
- Since inventory also declined in January 2023 amid its long-term revival, this points to a seasonal dip rather than a shift in the longer-term market trajectory.
- Cloud Theory's proprietary Inventory Efficiency Index reflects the post-holiday decline for luxury OEMs, with Lexus, Land Rover, and BMW dropping substantially in score and at least one rank.
- To see more trends and forecasts on inventory, movement, segment trends, and inventory efficiency, download a copy of the February 2024 On the Horizon report here.
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Thursday, January 18, 2024
GRAND RAPIDS, Mich., Jan. 18, 2024 /PRNewswire/ -- Cloud Theory, the automotive industry leader for real-time inventory and vehicle movement insights, has released a report that reviews 2023 automotive industry trends and points to five major issues predicted to dominate 2024.
Key Points:
- Cloud Theory uses its unique perspective on comprehensive supply and demand to review the 2023 automotive industry and predict five major issues that will dominate in 2024.
- GRAND RAPIDS, Mich., Jan. 18, 2024 /PRNewswire/ -- Cloud Theory, the automotive industry leader for real-time inventory and vehicle movement insights, has released a report that reviews 2023 automotive industry trends and points to five major issues predicted to dominate 2024.
- The Cloud Theory report also points to its proprietary Inventory Efficiency Index results to identify the makes that fared best in 2023 and are well positioned to do so in 2024.
- High-scoring makes typically rely less on incentives and pricing flexibility to sell their inventories.
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Growth GRAND RAPIDS, Mich., Jan. 9, 2024 /PRNewswire/ -- Cloud Theory, the real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates, is reporting in this month's "On the Horizon," that new vehicle inventory has continued to charge forward, rising 6% in December after an 8% increase the prior month. Over the past year, supply jumped by exactly 1 million—from 1.64M to 2.64M.
Key Points:
- OEMs continue to push more vehicles into the marketplace as supply chain challenges ease and as model year changeovers played out in December.
- 18 of the top 20 makes saw month-over-month inventory increases, with Toyota and Buick (both down 1%) being the only exceptions.
- End-of-year deals related to model year changeovers helped push vehicle movement up by 14% month-over-month to 1.12 million.
- January projections indicate that this growth will recede to 1.08 million as season shifts diminish.
Retrieved on:
Thursday, December 7, 2023
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Management GRAND RAPIDS, Mich., Dec. 7, 2023 /PRNewswire/ -- Cloud Theory, a real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates, has announced a new monthly report titled "On the Horizon," focusing on supply, demand, and inventory efficiency trends. Cloud Theory's comprehensive proprietary data backs the findings in this report and provides a complete and comprehensive view of inventory and vehicle movement counts and forecasts for the automotive industry.
Key Points:
- Cloud Theory's New Monthly Report Provides Trends on Supply, Demand, Inventory Efficiency, and Exclusive Forecasts to automotive manufacturers, agencies, and affiliates
GRAND RAPIDS, Mich., Dec. 7, 2023 /PRNewswire/ -- Cloud Theory, a real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates, has announced a new monthly report titled "On the Horizon," focusing on supply, demand, and inventory efficiency trends.
- Cloud Theory's comprehensive proprietary data backs the findings in this report and provides a complete and comprehensive view of inventory and vehicle movement counts and forecasts for the automotive industry.
- "While we typically focus on our real-time data and insights when working with our automotive partners, this report puts that information into historical context," said Rick Wainschel, Vice President of Data Science & Analytics at Cloud Theory.
- This first report provides an overview of November 2023, reviews industry and segment trends, and forecasts future movement data.
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Dodge Cloud Theory's patent-pending Inventory Efficiency Index (IEI) provides a previously unavailable real-time view of market-relevant supply and demand of all makes and models and across all geographies.
Key Points:
- Cloud Theory's patent-pending Inventory Efficiency Index (IEI) provides a previously unavailable real-time view of market-relevant supply and demand of all makes and models and across all geographies.
- Cloud Theory's Inventory Efficiency Index assigns scores to vehicle makes and models based on current active inventory and sales data relative to competitors.
- A score above 100 indicates that a make or model is selling its inventory more efficiently than average.
- After being the top brand in Inventory Efficiency for four of the first six months in 2023, Toyota was overtaken by Honda in July through September.
Retrieved on:
Thursday, October 19, 2023
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Automotive industry GRAND RAPIDS, Mich., Oct. 19, 2023 /PRNewswire/ -- As automotive manufacturers ramp up electric vehicle production to meet aggressive government targets, sales are not keeping pace with current inventory levels, causing EV days-to-move to more than double. In addition, while Tesla is firmly entrenched as the EV market share leader, no other manufacturer has emerged as a strong number two.
Key Points:
- "EV sales are rising but are not keeping pace with EV inventory growth.
- Cloud Theory found EV inventory has nearly doubled from 3% of available new vehicle inventory in January 2023 to 6% in September 2023.
- In the same timeframe, EV sales have gone from 3% of vehicle market share in January to 4% in September.
- Download the entire 40 page report HERE , which includes detailed insights into the current leading OEMs in the EV market.
