Key Highlights New-Vehicle Sales The auto industry is experiencing a notable upswing, with new light-vehicle sales up 10.6% year over year in October. New-Vehicle Prices In October, the average transaction price of new vehicles and the average manufacturer’s suggested retail price (MSRP) both saw slight monthly increases, while manufacturer incentives experienced significant growth both monthly … Continued
The Federal Reserve stuck to the plan of cutting 25 BPs (basis points) to continue the process of moving rates away from a too-restrictive level that has contributed to lackluster retail vehicle demand of late. There is no doubt: High rates – and limited affordability – held back new-vehicle sales in 2024. It was the … Continued
Key Highlights Economic Insights The first estimate of third-quarter real GDP growth showed a deceleration to 2.8% from 3.0% in the second quarter. Personal Income and Spending As expected, personal income growth accelerated to 0.3% from 0.2% in August. Employment Initial October payroll estimates indicate only 12,000 jobs were created, significantly below the expected 100,000. … Continued
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
Key Highlights Housing Market Trends The housing market displayed mixed trends in September, with existing and new home sales diverging significantly. Labor Market Dynamics The labor market has been deteriorating this year, with claims increasing and lasting longer. Consumer Sentiment and Inflation Expectations Consumer sentiment showed unexpected resilience in October, buoyed by improving conditions and … Continued
Key Highlights Retail Sales The initial retail sales report for September showed a stronger-than-expected and accelerating 0.4% monthly gain in consumer spending. Residential Construction Trends Residential construction trends were weakly negative in September as both permits and starts declined, but both were expected to see small declines. Labor Market Seasonally adjusted initial jobless claims declined … Continued
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
Key Highlights Inflation Headline inflation, according to the consumer price index (CPI), increased 0.2% in September, which was more than expected. New-Vehicle Prices and Incentives New-vehicle prices and incentives showed mixed trends. Used-Vehicle and Wholesale Prices Used retail sales estimates based on vAuto data indicate that volumes were down month over month but up year … Continued
Key Highlights Job Growth Surges in September September registered a stronger-than-expected uptick in job growth, with a total of 254,000 jobs created, outpacing the anticipated 150,000. Unemployment Rate and Labor Market Evolution While the headline unemployment rate saw a slight decline, overall market indicators and the deterioration in the labor market suggest a potential recession … Continued
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
