Hyundai Motor Company, which includes the Hyundai, Kia and Genesis brands, had a stellar second quarter in the U.S. despite low inventories, particularly Kia. The automaker boosted incentives to over $1,000, while average transaction prices were up incrementally compared with a year ago. The U.S., where Hyundai Motor sells all three brands and Hyundai 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
Toyota broke its U.S. sales slump in the most recently ended quarter but barely, as the Japanese automaker continued to have one of the lowest inventory levels in the industry, limiting sales. In Japan, Toyota Motor Corp. posts financial results Aug. 1 for the April-to-June quarter, the automaker’s first quarter of its 2024 fiscal year. … Continued
Economic growth accelerated in the second quarter and was stronger than expected despite slowing growth in consumer spending. Still, consumer spending accelerated in June, enabled by strong wage gains. Consumers also have more buying power with inflation coming down. New home sales declined in June, while pending home sales increased slightly. Total home sales fell in … Continued
The Fed raised rates today by a quarter point, as expected. While the door was technically left open for additional rate hikes, conditions are not likely to merit more increases during the remaining meetings this fall. In the press conference, Federal Reserve Chair Jerome Powell indicated that the committee wants to see evidence of balance … Continued
Update, Aug. 2, 2023 – New-vehicle sales in July likely came in near 1.30 million, an increase of more than 15% over year-ago levels and very close to the Cox Automotive forecast (below) published last week. (Hat tip to our senior economist.) Vastly increased inventory levels and a general improvement in consumer sentiment are helping … Continued
Ford is forecasted to post improved revenue and earnings when it reports second-quarter financial results after the stock market closes on Thursday, July 27. Wall Street analysts will be more concerned about future quarters than the most recent one after Ford recently slashed the price of its electric F-150 Lightning and lowered the Mustang Mach-E … Continued
It’s an exciting time for vehicle transportation. Earlier this month, during the quarterly Manheim Used Vehicle Value Index call, I had the opportunity to provide an update on Cox Automotive’s significant role in the vehicle logistics industry – as well as the trends we’re seeing. Within the Cox Automotive portfolio, our logistics capabilities are channeled … Continued
Stellantis posts financial results before the stock market opens Wednesday, July 26. Unlike other automakers that report quarterly earnings, Stellantis provides an update every six months. As Cox Automotive’s Industry Insights team provided quarterly updates on sales, pricing and incentives for the largest automakers each quarter, we are including Stellantis’ numbers for the second quarter … Continued
The most recent quarter was another tumultuous one for Nissan Motor Corp., but in the important U.S. market, sales surged up from recent lows. That could help the Japanese automaker’s bottom line when financial results for the company’s first quarter (May-June) of its fiscal year 2023 are announced this week. In Japan, the abrupt departure … Continued
