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.
Used retail-vehicle sales increased in January and were up from a year ago. Wholesale vehicle values also increased in January. Auto loan performance deteriorated further in January as both severe delinquencies and defaults grew. The severe delinquency rate is the highest we have seen, but the default rate is still below levels seen in 2019. … Continued
The light new-vehicle sales pace increased in January to 15.7 million, with strength coming from fleet sales. New-vehicle prices declined slightly, and incentives increased. The headline unemployment rate declined to 3.4% from 3.5% in January. This is a 54-year low in the unemployment rate and is the lowest unemployment rate that the U.S. had seen … Continued
The Fed raised the target for the Federal Funds Rate by a quarter percentage point today, as expected, which was the smallest increase since the first of seven increases in 2022. Last year’s increases resulted in the largest sustained one-way move in rates in Fed history. The biggest news from the Fed today was that … 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 fourth quarter saw a slowing in real economic growth, which followed a larger increase in the third quarter. Consumer spending slowed, but declining imports and inventory increases helped deliver the relatively strong number, which looked better than it really was. Consumer spending fell in December as personal income growth also slowed. Core inflation declined, … Continued
Retail sales declined more than expected in December, and adjusted for inflation, retail sales were down from a year ago. However, retail sales do not include spending on most services including travel, which appears to have remained strong in the latest credit card spending data for December. Residential construction fell in December, and with permits … 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.
Inflation declined in December, as did used-retail vehicle sales. Auto loan performance deteriorated further, and consumer sentiment is mixed so far this month. Used-vehicle retail sales and average wholesale prices on a non-seasonally adjusted basis also fell in December, as did. Full-year 2022 saw the largest declines in used-vehicle wholesale values in Manheim Used Vehicle … Continued
Inflation declined in December, as did used-retail vehicle sales. Auto loan performance deteriorated further, and consumer sentiment is mixed so far this month. Used-vehicle retail sales and average wholesale prices on a non-seasonally adjusted basis also fell in December, as did. Full-year 2022 saw the largest declines in used-vehicle wholesale values in Manheim Used Vehicle … Continued