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
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 has now moved the target rate more in two months than at any point since … Continued
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 COVID lockdowns shut down production and sales. China accounts for a third of Nissan’s global … Continued
Stellantis, parent company to Jeep, Ram and a host of other brands, will report quarterly earnings before the stock market opens on Thursday, July 28. The quarterly results will indicate how well the automaker is managing the chip shortage and other supply chain disruptions. In Europe, an Italian labor union warned that the automaker could … Continued
UPDATED, Aug. 3, 2022 – The Cox Automotive Industry Insights team was forecasting new-vehicle sales in July to trend closely to the results seen in June, as new-vehicle inventory levels are holding steady at approximately 1.1 million units, a days’ supply in the mid-30s. As noted in the forecast release below, “Auto sales are expected … Continued
Is your F&I office capable of supporting automated eCommerce? Consumers Want It, Technology Enables It Consumers have grown accustomed to the transparency, speed, and convenience of buying online. Research shows that 76% of today’s car buyers are open to purchasing completely online1, and 1 in 4 consumers say they prefer an Amazon-like car shopping experience … Continued
Ford outperformed the U.S. market in sales for the second quarter. How that translates into quarterly earnings will be revealed with the automaker posts financial results after the stock market closes on Wednesday, July 27. Ford’s U.S. vehicle sales surged in June to close the quarter on a positive note when the industry was down, … Continued
General Motors is expected to report a year-over-year decline in earnings, despite higher revenues, when it reports financial results for the second quarter on Tuesday, July 26, before the stock market opens. But then again, GM has beaten analysts’ forecasts for the past four quarters. Indeed, the quarter was challenging as GM continued to battle … Continued
CBT News, July 25, 2022 – As the automotive retail industry settles into the third quarter, analysts are reviewing mid-year sales data and updating their forecasts for the remainder of 2022. Today on Inside Automotive, Jim Fitzpatrick is pleased to welcome back Charlie Chesbrough, Senior Economist and Senior Director of Industry Insights at Cox Automotive to … Continued
The job market is starting to show signs of cooling as new initial claims have risen for seven straight weeks and are now at a level higher than they were before the pandemic began. However, continuing claims continue to remain below pre-pandemic levels. The housing market has suffered the most from the dramatic increase in … Continued