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.
COVID-19 cases driven by the Omicron variant are at record levels that are more than triple the peak previously hit last January. The pace of growth is slowing, but the virus, inflation, the weather and stock market volatility have weighed on consumer sentiment. Inflation stood at its highest level in 40 years, but we may … Continued
A replay of the Cox Automotive Industry Insights 2022 webcast held on Thursday, January 13, is available below. Cox Automotive Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough and Economic and Industry Insights Manager Kayla Reynolds explained how the auto industry performed in 2021 and how the Cox Automotive team sees the industry progressing in the … Continued
Our team held the quarterly Manheim Used Vehicle Value Index call last week. We reviewed the used-vehicle market performance through the final quarter of 2021 and provided our forward-looking view of the market into 2022. A key topic in the discussion, of course, was the elephant in the room: Has the recent run-up of used-vehicle … Continued
The December job report was mixed as it similarly was in November. Again, job creation was disappointing with just 199,000 new jobs, but the unemployment rate fell to 3.9% with some growth in the labor force. Tight labor supply is limiting job growth. Wages saw a stronger month-to-month growth pace, but, year over year, the … 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 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.
New daily COVID-19 cases increased week over week as cases remain elevated about where they have been for the last two weeks. The impact of the omicron variant in the U.S. has been limited so far. Jobless claims continue to decline to more normal levels as the job market heals. Consumer sentiment has improved slightly … Continued
The tightening of U.S. monetary policy is accelerating after the Fed’s eighth and final meeting in 2021. As expected, the Fed announced that tapering would accelerate and bond buying would end by March. This sets the stage for rate increases to begin soon thereafter as the economic priorities shift from a focus on job recovery … Continued
The trend in new daily COVID-19 cases kept rising last week as the seven-day average of daily cases was up and case levels are back to early October numbers. The most current view of consumer sentiment moved slightly higher for the week, and the initial reading for December from the University of Michigan registered an … Continued