The pace of new and used auto sales picked up as prices declined slightly and credit loosened, while loan performance was mixed. New light-vehicle sales increased 6.6% year over year in July, with one more selling day than July 2024. Large fleet buyers contributed strongly to July’s performance. Retail sales also improved. Lower prices and higher incentives … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Hiring stalls out, inflation ticks up, but real consumer spending remains positive The first estimate of second-quarter real GDP growth showed a sharp rebound as seasonally adjusted annualized growth was 3.0% following a decline of 0.5% in the prior quarter. The increase was driven by a collapse in imports so was again more of an … Continued
The Federal Reserve left monetary policy unchanged today at the conclusion of its fifth scheduled Federal Open Market Committee (FOMC) meeting of 2025, which represented the fifth straight no-change decision. The policy statement and commentary from Fed Chair Jerome Powell haven’t changed much. Still, this decision featured dissension, and that alone suggests that if data … Continued
Key Highlights: Home Sales This week was a light week for important economic data releases, with primarily June data on home sales, which unsurprisingly indicated little change in trend on a down market. With existing home sales decreasing and new home sales increasing only slightly in June, total home sales declined 2.3% for the month … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Key Highlights: Inflation Inflation accelerated in June, with the headline Consumer Price Index (CPI) up 2.7% year over year. The CPI data reflects early signs of inflation reacceleration tied to tariffs. Retail Sales Retail sales grew more than expected in June, with growth in most categories. Adjusting for inflation, retail sales were still higher year … Continued
Key Highlights: New-Vehicle Sales and Pricing The new-vehicle seasonally adjusted annual rate (SAAR) declined in June, but the retail SAAR increased and was higher than a year ago. Consumers are price-sensitive, so incentives are increasing again, and discounting is on the rise to keep retail sales moving. Prices were up modestly in June. Used-Vehicle Market … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Key Highlights: Employment The employment report for June was better than expected. The report did not indicate any problems with mounting job losses, but labor force participation and wage growth were both down, indicating that workers do not have much bargaining power. New-Vehicle Sales The new-vehicle seasonally adjusted annual rate (SAAR) declined in June, just … Continued