Cox boosts 2026 new vehicle sales outlook due to encouraging signs

Cox Automotive has raised its 2026 U.S. new-car sales forecast to 16.1 million, indicating resilience among affluent buyers despite challenges like high gas prices and interest rates. Senior economist Charlie Chesbrough highlighted positive indicators including low unemployment and increased job creation, noting that wealthier buyers now make up a significant portion of sales. In 2026, buyers earning over $150,000 accounted for 43% of new-car purchases, up from 29% in 2020. The new forecast reflects a slight decrease from 2025 but is optimistic compared to previous projections. However, concerns about potential recession and consumer spending remain.