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. This week, Jonathan examines: The latest on COVID-19’s nationwide impact Jobless claims and impacts by state Consumer sentiment in the U.S. and in the 142 largest markets … Continued
COVID-19 cases keep growing in the U.S., but the pace of increase is slowing as the peak in new cases occurred a week ago. Stay-at-home orders are working. Record jobless claims: The related closures will lead to a substantial economic contraction in March and the second quarter. The damage to the economy is most clearly … Continued
Watch the week four update with our Chief Economist Jonathan Smoke from his home studio in Atlanta, GA, as he explains the impact of COVID-19 on the automotive industry. Jonathan examines: The latest on COVID-19’s nationwide impact National and state-level employment impacts Consumer sentiment, including car-buying and car-servicing New and used vehicle sales trends Manheim … Continued
COVID-19 cases keep growing in the U.S., but the pace of increase slowed down last week even while the rate of testing increased. Stay-at-home orders are working. The related closures will lead to a substantial economic contraction in March and the second quarter. Jobless claims rise: The damage to the economy is most clearly seen … Continued
Watch this video with Chief Economist Jonathan Smoke from his home studio in Atlanta, GA, as he explains the impact of COVID-19 on the automotive industry. Jonathan examines: The latest on COVID-19’s nationwide impact National and state-level employment impacts Consumer sentiment, including car-buying and car-servicing New and used vehicle sales trends Manheim used vehicle values … Continued
Consumer confidence continues to decline and will not likely bottom until COVID-19 cases and deaths start to diminish. COVID-19 cases keep growing in the U.S., but the pace of increase has started to slow even while the rate of testing has increased. Testing had its largest daily increase on Friday, April 3. Stay-at-home orders have … Continued
Watch this video with Chief Economist Jonathan Smoke from his home studio in Atlanta, GA, as he explains the impact of COVID-19 on the automotive industry. Jonathan examines: Hardest hit COVID-19 areas in the U.S. State-level jobless claims Consumer sentiment and buying behaviors Current view of new and used retail sales and prices An outlook … Continued
The auto industry is anxiously awaiting reports of March vehicle sales, which automakers will start reporting on Wednesday, April 1. Undoubtedly, vehicle sales, which started the month strong, have plummeted as COVID-19 spread across the country, prompting an increasing number of states to issue shelter-at-home orders that shut down dealership showrooms. As a preview, Cox … Continued
Watch this video with Chief Economist Jonathan Smoke from his home studio in Atlanta, GA, as he explains the impact of COVID-19 on the automotive industry. Jonathan examines: Economic forecast and impact in the second quarter Consumer sentiment and buying behaviors Stock market, interest rates, and employment Current view of new and used retail sales … Continued
Much has changed since the first week of March. COVID-19 cases keep getting worse and will lead to a substantial economic contraction in the second quarter. The rest of the year could see some recovery, but it is too early now to call. There is some hope on the horizon with drug trials for treatments … Continued
