Daily new COVID-19 cases have resumed an upward trend that hit a new record late last week. Hospitalizations are also at new records, leading to ICU capacity problems and state and local governments issuing new restrictions. The impact on the economy is evident in weakening consumer sentiment, slowing jobs recovery and softening vehicle sales. Consumer … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
November saw a record number of new COVID-19 cases and hospitalizations. Consumer confidence is declining, and consumer spending decelerated in October before we began to see weekly increases in initial claims for unemployment in November. The 13.7 million consumers who are receiving unemployment benefits from coverage provided by the Coronavirus Aid, Relief, and Economic Security … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
Daily new COVID-19 cases continue an upward trend that is producing records. We saw more than 186,000 on Thursday. At this pace, we will likely see 200,000 today or tomorrow. Hospitalizations are also at new record highs, and daily deaths are rising. Consumer sentiment plummets: This third and bigger wave of COVID-19 is taking a … Continued
We have observed auto loan credit loosening this fall, and access to all types of auto loans continued to improve in October. However, access remains tighter than year-ago and pre-pandemic availability levels. Credit access for used vehicles sold by independent dealers improved the most in October. On a year-over-year basis, all loan types are tighter, … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
Affordability has been an important issue for housing for a decade now. When I left real estate and joined Cox Automotive in early 2017, affordability was becoming a worry in the auto market as well. In my nearly four years following the auto industry, I’ve watched transaction prices climb relentlessly and just last month hit … Continued
CBT News, Nov. 17, 2020 – There have been many ups and downs throughout 2020 for the automotive industry. Dealers are coming off an incredible Q3, but will it carry over through Q4 and into the new year? Cox Automotive Chief Economist Jonathan Smoke joined CBT News, to discuss the latest trends for retailers and what can … Continued
Daily new COVID-19 cases continue an upward trend that is producing records. The U.S. saw more than 160,000 cases last Thursday alone. At this pace, the U.S. will hit 200,000 new cases a day before Thanksgiving. Hospitalizations are also at new records. That has led state and local governments to impose restrictions on activity and … Continued