Key Highlights Economic Labor Trends Steady job growth was witnessed in November as the job market recovered from Hurricane Milton’s disruptions in October, indicating a stable labor market environment. New-Vehicle Sales and Prices The new-vehicle SAAR greatly improved in November, reaching the best level since May 2021. Used-Vehicle Sales and Prices The used-vehicle market experienced … Continued
Key Highlights GDP The increase in third-quarter real GDP was unchanged at 2.8%, reflecting steady economic growth. Personal Income and Spending Consumer spending growth decelerated in October as expected, while personal income growth accelerated and was much stronger than expected. Inflation The Personal Consumption Expenditure Index (PCE), the key gauge of inflation that the Fed … 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 Residential Construction Offers Mixed Signals The latest housing market data highlights declining trends in residential construction, reflecting potential headwinds for auto sales recovery. Existing Home Sales Show Resilience Amid Rising Inventories Existing home sales provide some optimism, delivering stronger-than-expected growth in October. Labor Market Faces Challenges Amid Rising Claims Employment data signals ongoing … Continued
Key Highlights Inflation Rises The auto industry is experiencing price dynamics influenced by inflation trends. Retail Sales Increase The auto sector showed robust performance in retail sales, outpacing the broader market. Auto Loan Performance Remains Weak Auto credit is likely to remain tight because auto loan performance continues to be weak. Consumer Sentiment Improves The … Continued
Cox Automotive experts are here to help you make the most of NADA2025 and the year ahead. In the first installment of our new “Expert Outlooks” series, Jonathan Smoke, SVP & Chief Economist, shares his unique perspective on the themes that shaped 2024 and why he is optimistic about next year.
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 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