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Cox Automotive Auto Market Report: July 9th

Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued

Auto Market Weekly Summary

Highlights Employment Overview June saw stronger-than-expected job growth; however, a deceleration was also observed: Unemployment and Earnings The employment situation shows mixed signals: Vehicle Sales and Prices Sales and prices of new light vehicles took a hit: Overall, while job growth was stronger than expected, the increase in unemployment rate and decline in new-vehicle sales … Continued

Auto Market Weekly Summary

Highlights Increased GDP and Personal Consumption First quarter GDP growth was revised up in the third and final estimate to 1.4%, but consumer spending revised down to a larger 2.3% decline. Consumer Spending Growth Consumer spending growth accelerated in May but came in weaker than expected even though income growth accelerated. Housing Market Trends New … Continued

Cox Automotive Auto Market Report: June 25th

Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. In this biweekly video, he covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing … Continued

Auto Market Weekly Summary

Highlights Retail Sales The initial report for May indicated weaker-than-expected consumer spending, with motor vehicles and parts categories outperforming the rest. Residential Construction Residential construction trends for May were weaker than expected with a decline in the seasonally adjusted annualized rate of starts of 5.5%. Existing Home Sales Existing home sales saw a decline of … Continued

Auto Market Weekly Summary

Highlights Inflation and Interest Rates The Consumer Price Index (CPI) in May showed no change from April but was up 3.3% from one year ago. Expectations were higher, with a 0.1% increase from April and 3.4% from last May forecasted. Core CPI, which excludes volatile food and energy prices, increased 0.2% from April and 3.4% … Continued

Aiming to Defeat Inflation Decisively, the Fed Leaves Interest Rates Unchanged; Gives Clues on Timing of First Cut

Calling the economic outlook uncertain and citing only “modest” progress toward their 2% inflation objective, the Federal Reserve announced today that it will maintain its benchmark Federal Funds rate in the 5.25% – 5.50% range. The Board of Governors were unanimous in their stance. The Fed’s decision to stand pat was not a surprise, as … Continued

Cox Automotive Auto Market Report: June 11th

Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Filling in this time, Jeremy Robb, senior director of Economic and Industry insights, covers a wide range of topics, including consumer spending patterns, consumer sentiment, … Continued

Auto Market Weekly Summary

Highlights Job Growth Job growth in May reaccelerated, exceeding expectations. Here’s a quick look at the highlights: Unemployment Unemployment increased in the latest data, breaking a 29-month streak of being under 4.0%. Vehicle Sales Vehicle sales performed well in May. Here are the key figures: Used-Vehicle Market The used-vehicle market demonstrated strong performance in May … Continued

Auto Market Weekly Summary

Highlights GDP, Personal Income and Spending The fourth-quarter real GDP growth was revised down to a 1.3% annualized increase from an initial estimate of 1.6%. This downward revision also impacted personal consumption, which was adjusted to a 2.0% increase from 2.5%. Real GDP growth year over year was revised to 2.9% from 3.0%. Personal income … Continued