Honda has been warning investors that the global computer chip shortage and rising raw material costs would hurt profits. Just how much will become clearer when the Japanese automaker posts financial results on Wednesday, August 10, for the April-to-June quarter, the automaker’s first quarter of its fiscal year that started April 1. Honda said in … Continued
BMW remained the most-shopped luxury brand for the second consecutive quarter on increased interest in its sedans, likely due to high gas prices, according to the Q2 2022 Kelley Blue Book Brand Watch™ report. Overall, shopping for luxury cars increased due to high fuel costs and better availability of cars during the global computer chip … Continued
The July employment report marked a milestone in the pandemic recovery, indicating no sign of a recession. Job growth in July accelerated to 528,000 jobs created. Unemployment fell to 3.5%, the same as it was in February 2020, though the number of jobs on payrolls is now higher than it was in February 2020. Labor … Continued
Sales into large fleets, not including sales into dealer and manufacturer fleets, decreased 15.3% month over month in July to 127,384 units, according to an early estimate from Cox Automotive. July 2022 Fleet Sales Combined sales into large rental, commercial and government fleets were up nearly 10% year over year in July. Sales into rental were … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 0.1% in July from June. The Manheim Used Vehicle Value Index declined to 219.6, up 12.5% from a year ago. The non-adjusted price change in July decreased 3.2% compared to June, leaving the unadjusted average price up 10.2% year over year. In July, … Continued
High gas prices led shoppers of non-luxury vehicles to consider traditional cars at a level not seen since before the pandemic, according to the most recent Kelley Blue Book Brand Watch™ report on non-luxury shopping. Shopping for electrified vehicles also rose. Toyota remained the most-shopped brand, widening the gap with No. 2 Ford. The Kelley … Continued
As I noted after their July meeting, the Federal Open Market Committee has moved the target rate more in the past two months than at any point since 1981, and they are not done yet. The Fed’s aggressive stance on tackling inflation has resulted in increased borrowing rates that will likely move to 3.5% or … Continued
Toyota Motor Corporation posts financial results for the April-to-June quarter on Thursday, August 4, the automaker’s first quarter of its fiscal year. Like its Japanese competitors, Toyota has warned that the chip shortage, shutdowns due to COVID and rising materials costs will impact earnings. In the U.S., one of Toyota’s most important markets, sales were … 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.
Real GDP declined again in the second quarter, as falling inventory accumulation and lower residential construction spending decreased private investment. Even so, consumer spending did grow over the first quarter. We have now seen two negative quarters in a row on real GDP, but the technical declines do not mean the U.S. is in a … Continued
