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…
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…
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%…
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…
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…
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…
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…
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…
As widely expected, the Fed raised the target for the Federal Funds Rate by three-quarters of a percentage point today as it remains steadfast in its goal to rein in inflation. Combined with the increase made in June, the Fed…
Nissan posts financial results for the April-to-June 2022 quarter on Thursday, July 28, the automaker’s first quarter of its fiscal year, and analysts expect a 70% drop in profits on higher revenue. Much of the blame is on China, where…
