Access to auto credit declined in January as credit tightened across all channels and across most lender types compared to December, according to the Dealertrack Credit Availability Index. The All-Loans Index declined to 93.0 in January, down 3% year over year. The Dealertrack Auto Credit Total Loan Index had shown some improvements during the summer … Continued
Strong U.S. sales in the waning months of 2023 should help lift Honda Motor Co.’s fortunes when it reports quarterly financial results February 8. In the quarter ended September 30, Honda Motor in Japan posted profits up by a third, prompting it to raise its forecast for the fiscal year that ends March 31. Much … Continued
Nissan Motor in Japan reports financial results for the October-to-December quarter February 8 and hopes to repeat the previous quarter’s performance, which featured a sharp 25% increase in profits on sales growth in most markets. The results exceeded analysts’ projections and prompted the Japanese automaker to raise its forecast for the full fiscal year that … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were unchanged in January compared to December. The Manheim Used Vehicle Value Index (MUVVI) remained at 204.0 but down 9.2% from a year ago. The index experienced the same 0.0% monthly change from December 2021 to January 2022. “With the volatility we saw last … 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
Toyota Motor is expected to post a hefty increase in quarterly earnings and revenues when it reports financial results on Feb. 6, thanks to a rebound in production following the global computer chip shortage. The October to December 2023 period is the Japanese automaker’s third quarter of its fiscal year 2024, which ends March 31. … Continued
ATLANTA, Feb. 5, 2024 – Cox Automotive presented its annual Leader in Sustainability Award to Grubbs Family of Dealerships, a fourth-generation dealership group that has been family-owned and operated since 1948 with six locations in Grapevine, Houston and San Antonio, Texas, and one location in Tulsa, Okla. Grubbs dealerships carry a lineup of four brands … Continued
The impact of the six-week UAW strike against the Detroit automakers will be the focus of Ford’s fourth-quarter and full-year financial results when they are posted after the stock market closes on Tuesday, Feb. 6. The strike began late in the third quarter and continued well into October, so the fourth quarter saw the biggest … Continued
ATLANTA, Feb. 5, 2024 – Cox Automotive presented its annual Barbara Cox Woman of the Year Award to Tina Miller, senior vice president and chief financial officer, at Lithia and Driveway, headquartered in Medford, Ore., one of the largest global automotive retailers with more than 300 locations across North America and the United Kingdom. Named … Continued
Job growth in January reaccelerated and was much stronger than expected, plus prior months were revised up. The three-month average for job creation increased to the highest level in nine months, casting doubt on the thesis that job growth is slowing. The unemployment rate and labor force participation were steady as wage inflation accelerated. The … Continued
