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Smoke on Cars
Chief Economist Jonathan Smoke shares his insights on macroeconomic trends, business cycles, demand and the economic factors influencing the automotive industry today.
All
Smoke on Cars
Commentary & Voices
Data Point
Economy & Trends
CAMIO
5 min read
Auto Market Weekly Summary
03/18/2024
Headline inflation accelerated further in February, according to the Consumer Price Index (CPI). The headline aggregate measure increased on a seasonally adjusted basis and marked two months in a row of acceleration, the highest monthly increase since August. However, on a year-to-year basis, core CPI declined to the lowest since April 2021. The overall CPI increased to 3.2% from 3.1% in January. Retail sales were weaker…
Read Article
Market Insights
Smoke on Cars
Economy & Trends
4 min read
Auto Market Weekly Summary
03/11/2024
Job growth in February accelerated and was stronger than expected, but prior job numbers were revised down substantially. Some metrics indicate weakening – like the downward revisions, slower wage growth, and higher unemployment rate. However, the three-month average for job creation is at the highest pace in eight months. New-vehicle sales recovered in February from January’s winter storms and delivered growth year over year. Discounting and…
Read Article
Market Insights
Smoke on Cars
Economy & Trends
5 min read
Cox Automotive Auto Market Report: March 5th
03/05/2024
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Download this week’s presentation
Read Article
Market Insights
Smoke on Cars
Economy & Trends
5 min read
Auto Market Weekly Summary
03/04/2024
The new-vehicle seasonally adjusted annual rate (SAAR), or sales pace, improved to 15.8 million in February, up from 15.0 million in January, which was impacted by winter weather. An update on new-vehicle sales in February was published this morning. Real GDP growth in the fourth quarter of 2023 was revised down slightly to 3.2%, which represented a slowing from the third quarter but a still very…
Read Article
Market Insights
Smoke on Cars
Economy & Trends
5 min read
Auto Market Weekly Summary
02/26/2024
Existing home sales increased modestly in January, as the bottom in home sales was likely in 2023. However, the existing home supply remains only half of what is considered normal, and home prices still show above-average year-over-year increases. Jobless claims so far this year are not showing any substantial change in trend, reflecting limited stress in the labor market. Tax refund season is a major driver…
Read Article
Market Insights
Smoke on Cars
Economy & Trends
5 min read
Cox Automotive Auto Market Report: February 20th
02/20/2024
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Download this week’s presentation
Read Article
Market Insights
Smoke on Cars
Economy & Trends
4 min read
Auto Market Weekly Summary
02/19/2024
According to the Consumer Price Index, inflation reaccelerated in January as the monthly increase was 0.3%, following a 0.2% increase in December. Headline inflation declined to 3.1% from 3.4% in December. Retail sales declined in January as weather disrupted sales in most categories. Residential construction activity also declined in January, with housing starts falling by almost 15%. Winter weather was the main cause of the decline.…
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Market Insights
Smoke on Cars
Economy & Trends
5 min read
Auto Market Weekly Summary
02/12/2024
New-vehicle prices fell in January with weaker retail demand. Incentives relative to price reached the highest level since July 2021. Discounting relative to the manufacturer’s suggested retail price (MSRP) has decreased slightly to nearly half of what it was in 2019 after being nonexistent a year ago. Used-vehicle prices were flat again in January, as used retail sales in January improved over December but were down…
Read Article
Market Insights
Smoke on Cars
Economy & Trends
5 min read
Cox Automotive Auto Market Report: February 6th
02/06/2024
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Download this week’s presentation
Read Article
Market Insights
Smoke on Cars
Economy & Trends
5 min read
Auto Market Weekly Summary
02/05/2024
Job growth in January reaccelerated and was much stronger than expected, plus prior months were revised up. The three-month average for job creation increased to the highest level in nine months, casting doubt on the thesis that job growth is slowing. The unemployment rate and labor force participation were steady as wage inflation accelerated. The pace of new-vehicle sales decreased in January to its slowest since…
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Market Insights
Smoke on Cars
Economy & Trends
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