Highlights Retail Sales Performance: Mixed Results June’s retail sales report revealed no growth, which was better than the expected decline. While the auto sector experienced a downturn due to software issues, there were notable gains in e-commerce and building supplies, leading to a slight overall increase compared to the previous year. Residential Construction Trends: A … Continued
Highlights Inflation: Unexpected Decrease Reinforces Control According to the CPI, headline inflation declined by 0.1% in June, better than the expected 0.1% increase. This reinforces the belief that inflation is under control. Used Vehicle Market: Decline in Sales and Prices Our used retail sales estimates, based on vAuto data, indicate that volumes were down 5% … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Highlights Employment Overview June saw stronger-than-expected job growth; however, a deceleration was also observed: Unemployment and Earnings The employment situation shows mixed signals: Vehicle Sales and Prices Sales and prices of new light vehicles took a hit: Overall, while job growth was stronger than expected, the increase in unemployment rate and decline in new-vehicle sales … Continued
Highlights Increased GDP and Personal Consumption First quarter GDP growth was revised up in the third and final estimate to 1.4%, but consumer spending revised down to a larger 2.3% decline. Consumer Spending Growth Consumer spending growth accelerated in May but came in weaker than expected even though income growth accelerated. Housing Market Trends New … Continued
A replay of the 2024 Cox Automotive Mid-Year Review webcast held on Tuesday, June 25, is available below. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, and other members of the Economic and Industry Insights team presented how the auto industry performed in the first half and what’s likely ahead, including updated 2024 Cox Automotive forecasts and the … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. In this biweekly video, he covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing … Continued
Highlights Retail Sales The initial report for May indicated weaker-than-expected consumer spending, with motor vehicles and parts categories outperforming the rest. Residential Construction Residential construction trends for May were weaker than expected with a decline in the seasonally adjusted annualized rate of starts of 5.5%. Existing Home Sales Existing home sales saw a decline of … Continued
Highlights Inflation and Interest Rates The Consumer Price Index (CPI) in May showed no change from April but was up 3.3% from one year ago. Expectations were higher, with a 0.1% increase from April and 3.4% from last May forecasted. Core CPI, which excludes volatile food and energy prices, increased 0.2% from April and 3.4% … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Filling in this time, Jeremy Robb, senior director of Economic and Industry insights, covers a wide range of topics, including consumer spending patterns, consumer sentiment, … Continued