As widely expected, the United Auto Workers (UAW) have officially called a strike against the domestic, Detroit-based auto brands (D3). The contract between the UAW and automakers expired Thursday night, and negotiations over a new, four-year contract broke down. The…
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…
New-vehicle sales rose slightly in August and were up double-digits compared to a year ago. The seasonally adjusted annual rate of sales (SAAR) declined to 15.0 million from 15.7 in July. Sales into fleet and increasing incentives contributed to the…
Economic growth for the second quarter was revised down, but it still showed a small increase from the first quarter. Consumer spending growth accelerated, but income growth slowed while inflation ticked up. Pending home sales increased slightly again. The August…
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…
Existing home sales declined in July, while new home sales increased slightly. Total home sales fell in July as high mortgage rates hurt affordability and limited existing home supply. Jobless claims remain remarkably stable, which does not indicate a major deterioration…
The initial retail sales report for July showed a reacceleration in consumer spending. Adjusted for inflation, retail sales increased over June and were barely down compared to a year ago. Residential construction starts appeared to increase in July, but only…
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…
Year-over-year inflation increased in July, but core price inflation, which is more relevant to the Fed’s assessment, continues to decline. Used-vehicle sales improved in July compared with last year for the best year-over-year performance since February. Wholesale used-vehicle values fell again…
The July employment report showed further slowing in job creation. Initial jobless claims declined, though they are higher than before the pandemic. The historically low unemployment rate declined further. Average hourly earnings growth also stayed strong. The labor market is…
