Every year many automakers shut down their assembly plants to retool and prepare for the new model year or product changeover. Factory employees love shutdowns because they typically cash in on some overtime hours leading up to the changeover, and they get to enjoy a little vacation time. When COVID-19 hit in the spring of … Continued
Stellantis is struggling in the U.S., one of its most important markets, with bloated inventories and underperforming sales. How that impacts the overall company will be revealed—in part—on Wednesday, May 3, when the automaker reports its shipments and revenues. The automaker will not post full financial results as it only does so every six months. … Continued
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