Economic growth slows: The economy grew at a 1.9% pace in the third quarter. That was stronger than expected but slower than last year or the first two quarters. Consumer spending again drove the economy, but consumer spending is also decelerating.…
ATLANTA, Nov. 4, 2019 – Scott Maybee has been named president of NextGear Capital, effective today. Maybee comes to NextGear from Manheim Northstar Minnesota, where he was general manager and responsible for all facets of the Minneapolis-based operation. Prior to joining…
General Motor’s UAW workers got back to work this past week, resuming production at plants across North America and ending a 40-plus day work stoppage. GM and its dealers went into the strike well prepared in terms of inventory, with…
The Fed officially cut the short-term rate policy by a quarter-point, citing slowing economic growth both globally and domestically. This was the third cut this year, so rate policy is back to the range we had in the spring of 2018…
UPDATED, Oct. 31, 2019 — FCA posted higher than expected operating earnings in Q3, lifted by its North American business and success of Ram trucks. FCA said North American profitability set a record. Company officials said they expect 2020’s financial…
Auto Remarketing, Oct. 29, 2019 – Manheim Digital vice president Zach Hallowell, who is the closing keynote speaker at Used Car Week’s National Remarketing Conference, sat down with senior editor Joe Overby at the recent NAAA Convention in Indianapolis for…
ATLANTA, Oct. 28, 2019 – No big scares are expected from the new-vehicle market in the U.S. this October. When reported on Friday, Cox Automotive is forecasting October U.S. new-vehicle sales volume to finish at nearly 1.37 million, up slightly…
General Motors issues its Q3 earnings report before the stock market opens Tuesday, October 29. The focus will be on the impact on Q3 of the just-ended, six-week strike by the UAW. More importantly, what impact will the strike, which…
ATLANTA, Oct. 28, 2019 – Holly Capps has been promoted to senior vice president of Manheim sales, reporting to Tim McKinley, chief sales officer at Cox Automotive. Since July, Capps served as the Manheim sales leader on an interim basis.…
Recent data point to continued weakness in manufacturing, especially in the third quarter. Globally, we are not seeing signs of improving economic activity as manufacturing languishes with ongoing trade uncertainty. Manufacturing weakness: In the U.S., the UAW strike against GM…
