Cox Automotive Inc.
3 min read
Auto Market Weekly Summary 09/30/2024 Key Highlights Consumer spending on motor vehicles and parts declined by 2.0% in August, after a July jump as activity recovered from software disruptions. Consumer confidence saw an unexpected drop of 6.5% in September. Consumers’ plans to purchase a vehicle improved as views of buying conditions reached their highest level since April. Economic Indicators and Consumer Spending According to the final estimate, second-quarter real GDP growth… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
4 min read
Auto Market Weekly Summary 09/23/2024 Key Highlights The Federal Reserve has eased monetary policy, and rates are likely to slowly drift down over time, but (auto) credit will remain tight until loan performance starts improving. In August, the auto sector lagged behind the broader retail market, with sales of motor vehicles and parts declining by 0.1%. Despite a challenging retail environment, residential construction trended positively in August, which could boost demand… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
3 min read
Auto Market Weekly Summary 09/16/2024 Key Highlights Inflation has remained mostly stable, with some notable exceptions, including a surge in transportation services. Used retail sales have significantly increased, with volumes rising across the board. Consumer credit growth has seen its most substantial month-over-month escalation in nearly two years, impacting access to auto credit. Inflation and Auto Pricing Headline inflation, according to the consumer price index (CPI), increased by 0.2% in August,… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
3 min read
Auto Market Weekly Summary 09/09/2024 Key Highlights August saw 142,000 jobs created, below the expected 165,000, with significant revisions to prior months. The headline unemployment rate declined to 4.2%, but the underemployment rate increased to 7.9%. New light-vehicle sales were up 7.6% year over year, but fleet sales declined significantly. August Job Growth In August, job growth reaccelerated modestly but fell short of expectations, reflecting a mixed performance across various sectors.… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
3 min read
Auto Market Weekly Summary 09/03/2024 Highlights: Real Gross Domestic Product (GDP) increased at an annual rate of 3.0% in the second quarter of 2024, according to the "second" estimate released last week. Consumer spending growth accelerated to an impressive 0.5% in July, up from the 0.3% growth seen in June. The Conference Board’s consumer confidence index increased by 1.4% in August, an outcome better than initially expected. Gross Domestic Product (GDP)… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
5 min read
Auto Market Weekly Summary 08/26/2024 Highlights: The Federal Reserve (Fed) is expected to make its first rate cut of the current cycle in September. The Bureau of Labor Statistics (BLS) has revised job data, revealing that almost 818,000 fewer jobs were created in the 12 months up to March 2024 than previously reported. The labor market is weakening, with increasing jobless claims and extended durations, while home sales are rising. Fed’s… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
4 min read
Auto Market Weekly Summary 08/19/2024 Highlights: Headline inflation and core CPI increased by 0.2% in July. This reflects controlled price pressures and is the lowest year-over-year CPI since March 2021. Consumer spending rose significantly, with retail sales up 1% month over month. The motor vehicle sector played a major role in this recovery, highlighting consumer demand's resilience. July saw declines in both permits and starts in residential construction. However, a strong… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
3 min read
Auto Market Weekly Summary 08/12/2024 Highlights: July saw the average transaction price of a new vehicle remain almost identical to the previous month, presenting a 0.2% decrease year over year, but seeing a 24.6% increase since 2019. Used-car sales increased 5% compared to June, although they were 2% lower year over year, reflecting a changing landscape and a potential renewed interest in used vehicles. Access to auto credit has tightened across… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
3 min read
Auto Market Weekly Summary 08/05/2024 Highlights: Job growth in July was weaker than expected, with only 114,000 jobs created rather than the expected 175,000. The Federal Reserve maintains the rate policy at its current high level, despite worsening job market conditions. New-vehicle sales in July saw a decrease of 2.0% year over year and a decrease of 3.0% month over month. A Closer Look at the Job Market The job market… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
3 min read
Auto Market Weekly Summary 07/29/2024 Highlights: The first estimate of second quarter real GDP showed a higher-than-expected acceleration to 2.8% annualized from 1.4% in the first quarter. Consumer spending growth slightly slowed to 0.3% in June from an upwardly revised 0.4% growth in May. New and existing home sales experienced a decline in June, with existing home sales posting their fourth straight monthly decline. GDP, Personal Income and Spending. The second… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends