First-quarter real GDP growth reflected a slowing economy, but underneath the headline deceleration was an improvement in consumer spending. Consumer incomes and spending were stable in March. The personal savings rate increased. Key measures of inflation showed downward progress, but they remain elevated. New home sales increased in March, while pending home sales declined. Total home … Continued
Driven partly by strength from its electric vehicles, Ford Motor Co. could deliver better-than-expected financial results for the first quarter of 2023 when it reports them on Tuesday, May 2. Wall Street analysts expect a year-over-year decline in earnings on higher revenues. The consensus is that earnings per share will drop by 5%, but revenues … Continued
Don’t Stop the Music, An Ode to the Fed I’ve assembled this playlist of great tracks reaching all the way back to the 1950s that help explain the circumstances and dynamics we face as the Fed tempts fate by raising rates to vanquish inflation that is already coming down – while banks are failing, and … Continued
CBT News, April 26, 2023 – As the industry adapts to an unfamiliar automotive landscape, what new challenges will dealers need to face? On this episode of Inside Automotive, Brian Finkelmeyer, senior director of new car solutions at Cox Automotive, joins anchor Jim Fitzpatrick to discuss the most important takeaways from the last three months … Continued
Updated, May 3, 2023 – Fed by higher inventory levels and a healthy dose of fleet deliveries, April new-vehicle sales likely finished higher than the Cox Automotive forecast. As noted below, our team was expecting the annual sales pace in April to hit 15.1 million – a sizable increase from April 2022 – and initial … Continued
Hyundai Motor Company, which includes the Hyundai, Kia and Genesis brands, had a stellar first quarter in the U.S., with sales growth far outpacing the industry, despite low inventories, particularly for Kia. The automaker slashed incentives to historic lows, while average transaction prices held steady compared with a year ago. The U.S., where Hyundai Motor … 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
Lately, General Motors has made a habit of beating analysts’ forecasts, and it may well happen again when the Detroit automaker reports 2023 first-quarter earnings before the stock market opens Tuesday, April 25. Analysts expect GM earnings to be lower than the year-ago quarter even with higher revenues, but they admit an upside surprise is … Continued
New construction trends were mixed in March but permits and starts improved in single-family housing. Some analysts interpreted the growth as a sign that the contraction in residential construction may be nearing an end. That conclusion may be premature based on mortgage rates increasing again and credit conditions tightening. Existing home sales declined in March … Continued
Welcome to the monthly Manheim Market Insights update. Jeremy Robb, senior director of economic and industry insights at Cox Automotive, offers a monthly check-in on what we are seeing in the used wholesale and retail markets, all through the wide lens of the data available from Cox Automotive. This month’s video highlights tax refunds, the … Continued