The Fed delivered on expectations today by raising the target rate for the Federal Funds Rate by half of a percentage point and announcing the plan to start reducing its balance sheet starting on June 1. The increase in the target rate was the largest in 22 years. The policy decision by the Fed Open … Continued
Stellantis posts first-quarter 2022 financial results before the U.S. stock market opens on Thursday, May 5. In its important U.S. market, Stellantis sales fell less than the overall market because it had more inventory than many competitors. The high-volume, most profitable brands – Jeep and Ram – significantly outperformed in sales. At the same time, … Continued
Real GDP declined in the first quarter but mainly because of net exports and declining inventories. Consumer spending remained robust. Consumer spending in March, in fact, accelerated and even showed growth on an inflation-adjusted basis over February and last year. Incomes are also growing at a healthy pace supported by every factor but unemployment benefits. … Continued
UPDATED, May 3, 2022 – While April sales are still being tallied by our teams, initial projections indicate total sales will come in near 1.2 million, down more than 20% from year-ago levels and very near our forecast released last week. As Cox Automotive Senior Economist Charlie Chesbrough noted earlier, the new-vehicle inventory situation has … Continued
A day after celebrating the launch of the all-electric F-150 Lightning, the most important new product from Ford in a lifetime according to Chairman Bill Ford, the company is scheduled to post first-quarter 2022 financial results. The numbers will be released after the stock market closes on Wednesday, April 27. Supply-chain disruptions slowed Ford’s vehicle … Continued
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Download this week’s presentation.
General Motors posts first-quarter 2022 financial results after the stock market closes on Tuesday, April 26. The quarter was challenging, marked by supply-chain disruptions, production cuts, and low inventories. On the positive side, GM in the U.S. slashed costly incentives and boosted sales of many of its profit-rich trucks and SUVs. Here are some data … Continued
ATLANTA, April 26, 2022 – Though only 29% of buyers applied for financing online for their most recent vehicle purchase, 96% of those surveyed are willing to do so, according to a new study published by Cox Automotive. The Cox Automotive Car Buyer Financing Journey Study revealed that buyers who completed key financing steps online … Continued
More than a dozen automakers are introducing electrified pickup trucks – full EVs or hybrids – over the next couple of years. One of those is Ford, which will be celebrating the delivery of the electric F-150 Lightning to its first customers on Tuesday, April 26. With so many electrified pickup trucks hitting the market, … Continued
The job market continues to be one of the strongest parts of the economy as continuing jobless claims keep falling and are far lower than they were before the pandemic began. New construction continues to be strong, with growth in multi-family, which is sorely needed, driving permits and starts higher in March. Existing home sales … Continued