Toyota in Japan reported its financial results for the April-to-June quarter Thursday, Aug. 5. The quarter is Toyota’s first in its fiscal year that ends March 31, 2022. The U.S. headline in the quarter was that Toyota beat General Motors in sales for the first time. Toyota accomplished the feat with the lowest inventories for … Continued
General Motors reports second-quarter 2021 financial results on the morning of Wednesday, Aug. 4. GM was forced to cut production due to the global computer chip shortage in the quarter. Its GMC and Chevrolet divisions had among the industry’s skimpiest inventories, as did all of GM’s trucks and full-size SUVs. However, GM was able to … Continued
Honda Motor Co. in Japan reports its financial results for the April-to-June quarter Wednesday, Aug. 4. The quarter is Honda’s first in its fiscal year that ends March 31, 2022. In the U.S., American Honda, which includes the Honda and Acura brands, far outperformed the industry in sales, setting new highs and gaining market share. … 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.
Stellantis reports second-quarter 2021 financial results Tuesday, Aug. 3. Formed by the merger of Fiat Chrysler and PSA (Peugeot) Group early this year, Stellantis posted higher U.S. sales in the quarter, though its increase was less than the overall market. Still, Stellantis, usually a big spender, slashed incentives by a third and experienced new highs … Continued
The growth trend in new daily COVID-19 cases continued last week. Consumer sentiment declined in July, but measures of consumer attitudes in July showed conflicting trends. Consumer spending improved in June even as government transfer payments declined. Inflation in June was at the highest level in more than a decade. The savings rate declined but … Continued
In this summer of low incentives, consumers are facing record-high vehicle prices. Inventories are low and many vehicles are being sold at or above the manufacturer’s suggested retail price (MSRP). While interest rates remain favorable and help the bottom line of most deals, incentive spending has dropped off notably in 2021, putting pressure on vehicle … Continued
U.S. monetary policy was unchanged today as the Fed issued their official statement following their fifth meeting of 2021. Minimal changes were made in the official statement compared to the prior statement. They acknowledged progress towards the conditions necessary to eventually move away from easy monetary conditions but said they will continue to assess progress … Continued
UPDATED August 4, 2021 – The automotive sales pace in July slowed substantially, as tight vehicle supply severely limited sales at some automakers. The Cox Automotive Industry Insight team had forecasted slowing sales, as available inventory at the start of July was at the lowest point in memory. Days of supply had dropped to 29, according to … Continued
Ford Motor Co. reports second-quarter 2021 earnings Wednesday, July 28, after the stock market closes. The global computer chip shortage has severely hampered Ford’s vehicle supply. Ford has cut production and built vehicles and parked them until chips are available. On the plus side, high consumer demand and low inventories have allowed Ford to drastically … Continued
