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Auto Market Weekly Summary

Daily new COVID-19 cases continue an upward trend that is producing records. We saw more than 186,000 on Thursday. At this pace, we will likely see 200,000 today or tomorrow. Hospitalizations are also at new record highs, and daily deaths are rising. Consumer sentiment plummets: This third and bigger wave of COVID-19 is taking a … Continued

Loans in Accommodation Decrease, Delinquencies Increase in October

We have observed auto loan credit loosening this fall, and access to all types of auto loans continued to improve in October. However, access remains tighter than year-ago and pre-pandemic availability levels. Credit access for used vehicles sold by independent dealers improved the most in October. On a year-over-year basis, all loan types are tighter, … Continued

Introducing the Cox Automotive/Moody’s Analytics Vehicle Affordability Index

Affordability has been an important issue for housing for a decade now. When I left real estate and joined Cox Automotive in early 2017, affordability was becoming a worry in the auto market as well. In my nearly four years following the auto industry, I’ve watched transaction prices climb relentlessly and just last month hit … Continued

Is the Auto Retail Industry Poised For a Strong Start to 2021? – Jonathan Smoke

CBT News, Nov. 17, 2020 – There have been many ups and downs throughout 2020 for the automotive industry. Dealers are coming off an incredible Q3, but will it carry over through Q4 and into the new year? Cox Automotive Chief Economist Jonathan Smoke joined CBT News, to discuss the latest trends for retailers and what can … Continued

What Biden’s Narrow Victory Means for the Auto Industry

Last month, and following the established projections at the time, I posted initial thoughts on how a Biden administration, supported by a blue wave of Democratic support in both the Senate and the House, would influence the auto industry and economy in the coming years. The projected blue wave never arrived and, instead, appears to … Continued

Auto Market Weekly Summary

Daily new COVID-19 cases continue an upward trend that is producing records. We saw more than 121,000 last Thursday and at this pace could see 200,000 by Thanksgiving. Hospitalizations are also at new records. The job recovery continues, but the pace is slowing. More of the remaining 10.1 million jobs lost in the pandemic are … Continued

Fed Meeting a Non-Event as We Await Election Outcome

Not much was expected from today’s Federal Reserve announcement given the yet settled outcome from the election. The key items of interest were about expectations for the economy, any new guidance on rates long term, and any new insights into their bond buying plans. Nothing new emerged from their official statement. The most significant change, … Continued

Auto Market Weekly Summary

Daily new COVID-19 cases continue an upward trend that is producing records. We are likely to see a new record of 100,000 daily cases soon. The third quarter saw a historic rebound in economic growth, but the economy is still in a recession with a level of decline worse than the average recession. The stock … Continued

The Polls Are Calling for a Biden Win. Here’s What That Could Mean for the Auto Industry.

My team and I have been relentlessly following the economy and the auto industry throughout this year, providing weekly video updates and useful analysis to help shed light on what’s happening in the market. Through the ongoing pandemic, we carefully tracked the fast decline in auto sales and have been measuring the faster than expected … Continued

Auto Market Weekly Summary

Daily new COVID-19 cases continue an upward trend. As the month closes, we are seeing a new record set in daily cases, hitting the milestone of 80,000 a day over the weekend. In economic news, housing construction and home sales are the bright spots. Unemployment stands at record levels. Used-vehicle sales are slowing. Housing strong: … Continued