After the December increase, the discount rate, which the Federal Reserve controls, was up 100 basis points year over year. With this fourth quarterly increase, the Fed has increased rates more times in 2018 than any time since 2006. The last time it raised rates more was in 2005 when it increased eight times, totaling … Continued
Derived from a quarterly survey that Cox Automotive issues to a representative sample of franchise and independent auto dealers, the Cox Automotive Dealer Sentiment Index measures dealer perceptions of current retail auto sales and sales expectations for the next three months as “strong,” “average” or “weak.” The survey also asks dealers to rate new-car sales … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.32 percent month-over-month in November. This brought the Manheim Used Vehicle Value Index to 139.0, a 3.3 percent increase from a year ago. Looking at trends in weekly Manheim Market Report (MMR) prices, November saw continued normalizing depreciation. Three-year-old vehicles ended the … Continued
Waymo, the autonomous vehicle division of Alphabet, announced today plans to launch a commercial self-driving vehicle service. Called Waymo One, the new service will initially be available to members of Waymo’s early rider pilot program in the Phoenix area. In making the announcement, Waymo also shared its intent to make Waymo One available to even … Continued
Auto sales in November 2018 continued at a healthy pace. Full-year 2018 sales are on course to beat 2017 and pass the 17-million milestone for the fourth straight year, a record streak. While General Motors did not make November sales public, the Cox Automotive team is estimating the company delivered sales better than our initial … Continued
This morning in Argentina, President Trump was joined by the presidents of Mexico and Canada in the signing of an update to the North American Free Trade Agreement. With approximately 4 million vehicles built in Canada and Mexico sold in the U.S. in the past 12 months, automobiles are a headline issue in the new … Continued
Below are some comments from Michelle Krebs around the announcement of Dan Ammann leaving his role as President of GM and moving onto leading Cruise as CEO. If you have any questions or would like to speak to one of our analysts at Autotrader or Kelley Blue Book, please let us know. From Michelle Krebs, … Continued
It’s Monday, and L.A. Auto Show media-preview week. The news has already begun, with General Motors this morning confirming major production moves and staff reductions, with multiple plant closings impacting upwards of 6,000 workers. Salary workforce reductions in the 15 percent range are also underway as G.M. looks to save nearly $5 billion a year … Continued
At a press conference in Japan today, Nissan Motor Company announced that its Chief Executive Officer Hiroto Saikawa has moved to dismiss Carlos Ghosn from his positions as Chairman and Representative Director of the company. Ghosn, a former CEO of Nissan and current Chairman of both Renault and Mitsubishi, had been the subject of an … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.72 percent month-over-month in October. This brought the Manheim Used Vehicle Value Index to 140.9, a 3.4 percent increase from a year ago and a record high for the Index. Looking at trends in weekly Manheim Market Report (MMR) prices, October saw … Continued
