New daily COVID-19 cases continued to increase last week. Used-vehicle sales slowed to a more normal pace. New jobless claims increased slightly from the prior week, but continuing claims declined. Consumer sentiment improved modestly over the last seven days but remains down so far in July. Consumers opened new credit cards and took out new … 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 new-vehicle market lost more momentum in June as the market is past the spring frenzy and is now seeing sales fall with even tighter supply and record-high prices with limited incentives. Still, June retail sales were still close to the level recorded in June 2019, so the pace is relatively strong considering the conditions. June saw … Continued
While not all automakers have finalized their sales results for the first half yet, the direction for the industry is clear: The sales frenzy that fueled the market through the spring has clearly passed. June new-vehicle sales appear to be coming in below our initial forecast, and we expect limited supply is the cause. Inventory has been … Continued
At the 2021 Mid-Year review held on June 28, the Cox Automotive Industry Insights team presented their view of the first half of the year. Led by Chief Economist Jonathan Smoke, the team provided insights and data to help quantify how the consumer, the industry and the economy performed in the first half of 2021 … Continued
The trend in new daily COVID-19 cases stopped declining with cases increasing slightly last week. Consumer sentiment improved slightly, but measures of consumer sentiment show mixed trends in June. Consumer spending was unchanged in May as incomes slid with less government support. Inflation in May was at the highest level in more than a decade. … Continued
CBT News, June 24, 2021 – Recently, Cox Automotive published its quarterly Cox Automotive Dealer Sentiment Index for Q2. The index measures dealer sales expectations and how they perceive current auto retail trends over the next 90 days. Jonathan Smoke, Chief Economist for Cox Automotive joined Jim Fitzpatrick on CBT News to discuss the findings of this latest … 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 Mid-Year Review, hosted by Jonathan Smoke and the Industry … Continued
New daily COVID-19 cases continued to decline last week, but new jobless claims increased from the prior week. The change in trend could just be noise following impact of Memorial Day holiday period leading to lower claims and the following full week showing some bounce back. Initial claims are expected to continue to decline. Jobless … Continued
U.S. monetary policy was unchanged today as the Fed issued their official statement following their fourth meeting of 2021. Minimal changes were made in the official statement compared to the prior statement. While acknowledging progress on vaccinations has reduced the effects of the public health crisis on the economy, the Fed is focusing on achieving … Continued