As expected, the Fed left interest rates unchanged today, at least as it relates to official short-term rate policy. We have now had two meetings with no change in rate policy, yet rates keep rising. The Fed is getting more restrictive higher rates while pretending to be patient. Despite no change in their policy, the … Continued
As we navigate the fourth quarter, risks remain across the auto industry caused by the fallout from the United Auto Workers strike, a possible economic slowdown, and political uncertainty that’s putting downward pressure on consumer sentiment. In times like these, following the data is even more important—for us and our clients. If you’ve followed the … Continued
Toyota reported improved U.S. sales in the latest quarter, with most models showing gains despite having among the lowest inventory levels in the industry. In Japan, Toyota Motor Corp. posts financial results Oct. 31 for the July-to-September quarter, the automaker’s second quarter of its 2024 fiscal year. Toyota’s U.S. sales for the quarter rose 12%, … Continued
Stellantis reports global deliveries and revenues on Oct. 31 and will be grilled by analysts about the impact the UAW strike had on its operating profit, which will take the biggest hit in the fourth quarter. The UAW went on strike against GM, Ford and Stellantis on Sept. 15, taking down one assembly plant for … Continued
Economic growth for the third quarter accelerated and was much stronger than expected at 4.9%. Most factors moved to positive, with accelerating growth in consumer spending being a major driver of the growth in the quarter. Consistent with the quarter’s performance, consumer spending growth accelerated in September, but income growth slowed. Personal Consumption Expenditure Index … Continued
Editor’s note: On the evening of Wednesday, Oct. 25, after this post was published, Ford and the UAW reached a tentative agreement on a new four-year contract. The contract has not been ratified by the UAW membership, but striking Ford workers will be going back to work, ending the production stoppages in Michigan, Kentucky and … Continued
Updated, Nov. 2, 2023 – October new-vehicle sales in the U.S. continued showing healthy results, as forecast by Cox Automotive late last month, with enough buyers shrugging off high loan rates and staying in market. Initial estimates show that the seasonally adjusted annual rate (SAAR), or sales pace, came in right at the year-to-date average … Continued
South Korea’s Hyundai Motor Company, which includes the Hyundai, Kia and Genesis brands, has been having a stellar year for growth. In 2019, Hyundai Motor ranked No. 7 in total U.S. sales. In the third quarter, it was No. 4, passing Stellantis, Honda and Nissan and lagging No. 3 Ford Motor Co. by only 66,000 … 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
The UAW strike against GM and the other Detroit automakers will overshadow what had been expected to be a solid quarter for the automaker, which reports third-quarter financial results before the stock market opens on Tuesday, Oct. 24. The UAW strike started Sept. 15 against three U.S. assembly plants, one for each automaker. GM’s Wentzville, … Continued
