Real GDP declined in the first quarter slightly worse than previously estimated, as downward revisions to spending reduced growth further. Even so, consumer spending did grow over Q4 2021. Consumer spending slowed in May. With inflation factored in, real spending…
A replay of the Cox Automotive 2022 Mid-Year Review webcast held on Tuesday, June 28, is available below. Cox Automotive Chief Economist Jonathan Smoke and our Industry Insights team provided a deep dive into the economy and auto industry – the new, used…
As the first half of 2022 comes to a close, our team is once again reviewing the market predictions we offered back in January and providing an assessment of how well we did. Of course, we don’t have full-year results…
Most auto manufacturers have long ignored the wisdom of the angels. And yet we all hear them so clearly: “Never exceed a 60 days’ supply of on-ground inventory.” “Keep fleet to less than 12% of your total sales.” “Incentives should…
UPDATED, July 5, 2022 – The Cox Automotive Industry Insights team had expected a year-over-year decline in June auto sales. The actual decline, however, was even greater than expected. Sales last month came in at approximately 1.125 million; the forecast…
The Cox Automotive 2022 Mid-Year Review webcast will be held today at 11 a.m. EDT. The presentation is now available for download. During the webcast, Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough and Economic and Industry Insights Senior Manager Chris Frey…
The job market continues to be one of the strongest parts of the economy and is showing no signs of new stress. Meantime, the housing market is suffering the most from the dramatic increase in mortgage rates. Total new home…
Here we go again – another holiday weekend virtually void of big-tent events, hot dogs, balloons and great deals on new vehicles. Last month, over Memorial Day Weekend, a deal was hard to find, as inventory was tight, prices were…
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…
Service revenue increased slightly at U.S. franchised dealerships in May on fewer repair order tickets, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Revenue Index increased month over month to the new highest level for…
