Stellantis has steered through the global computer chip shortage, maintaining the most abundant vehicle inventory in the U.S. industry for the past year while other automakers struggled with skimpy supply. Still, Stellantis posted a decline in U.S. sales in the third quarter, while incentives were more than twice the industrywide average. Its average transaction price … Continued
Last week featured mixed news with enough strength in the economy and consumer spending to result in more rate increases and communication of more increases to come from the Fed this week. Check back on Smoke on Cars for additional commentary after the announcement on Wednesday, November 2. The third quarter saw a strong rebound … Continued
The fall is one of the best times of the year for sports fans: the World Series, NFL and college football, and the beginning of the NBA basketball season. And fans can’t miss the steady stream of automotive commercials during every TV time-out. The one question on the minds of today’s new-car shoppers watching these … Continued
Leasing is an important financing option for potential shoppers in the new-vehicle market. New vehicles financed through an auto loan generally have a higher monthly payment. Thus leasing provides an affordable “bridge” to new vehicles for people who cannot afford to purchase outright. Additionally, leasing has been an important option for potential buyers who … Continued
UPDATED, Nov. 2, 2022 – Spurred in part by improving inventory, early indications of new-vehicle sales in October suggest sales volumes will come in above the Cox Automotive forecast. Gains from October 2021 were all but guaranteed, as last October was a historically bad month for new-vehicle sales. But reports from Hyundai, Kia, Toyota and … 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.
Ford signaled in September that higher-than-expected costs would dampen its third-quarter profits due to parts shortages and inflation. Ahead of its Wednesday, October 26, earnings announcement, Ford forecasted adjusted earnings before income and taxes of $1.4 billion to $1.7 billion for Q3. Ford said parts costs would be $1 billion higher than expected because of … Continued
Residential construction trends in September were mixed, but single-family housing activity is clearly declining. Existing home sales fell in September for the eighth straight month. More declines can be expected as demand wanes and supply remains very limited, unlike the 2008 downturn. Initial jobless claims declined in the latest week, and jobless claims overall remain … Continued
General Motors had a lot of good news in the third quarter. Sales shot up while the industry was flat. GM is back on top for U.S. sales, winning its long-held crown back from Toyota, which snatched it in 2021. Transaction prices kept climbing while GM continued to slash incentive spending. While GM will report … Continued
Welcome to the monthly Manheim Market Insights update. This monthly video is content offered by Kevin Chartier, vice president of Manheim Market Insights. In this video, Chartier shares a few of his thoughts on what we are seeing in the used wholesale and retail markets; all through the wide lens of data available from Cox … Continued