News – Cox Automotive Inc.

Even as the Fed Keeps Interest Rates Parked, Many Consumers are Seeing Higher, Not Lower, Auto Loan Rates 01/29/2020 The Federal Reserve officially left short-term rate policy unchanged, which was expected. The Fed is determined to leave monetary policy parked in the absence of clear evidence of a material change in the direction of the economy. Even though their policy statement acknowledged that they have downgraded their view of the pace of consumer spending growth, the Fed’s official statement acknowledged also that economic growth is increasing… Read Article

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10 Key Market Trends – 2019 Spring Update 05/23/2019 Jonathan Smoke, Chief Economist at Cox Automotive, provides an update on the Key Trends that, earlier in the year, were predicted to have the greatest impact on the automotive industry in 2019. VIDEO HIGHLIGHTS The Economy – Economic growth has been revised slightly downward from 2.6% to 2.4% GDP due to a softer than expected year-end 2018, plus a slow start in first quarter 2019. Despite the decelerating… Read Article

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Top Insights Shaping the Automotive Industry in 2019 01/24/2019 Jonathan Smoke, Chief Economist at Cox Automotive discusses the economic outlook for the automotive industry into 2019. Isabelle Helms, Vice President of Research & Market Intelligence, shares findings from the Cox Automotive Service Industry study to help dealers understand how to take advantage of these trends and differentiate themselves in the marketplace. Benefit of Strong Economic Tailwinds from 2018 – 2018 saw a robust economy… Read Article

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Fed Hikes Interest Rates Again: Era of Low Auto Loan Rates in Rearview 12/19/2018 After the December increase, the discount rate, which the Federal Reserve controls, was up 100 basis points year over year. With this fourth quarterly increase, the Fed has increased rates more times in 2018 than any time since 2006. The last time it raised rates more was in 2005 when it increased eight times, totaling 200 basis points. Simultaneously, the Fed has been selling off its… Read Article

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8 Key Market Trends – 2018 Fall Update 12/10/2018 Jonathan Smoke, Chief Economist at Cox Automotive, provides an update on the 8 Key Trends that, earlier in the year, he predicted would have the greatest impact on how the automotive industry performs in 2018. Now that we are close to wrapping up the year, we are revisiting those trends to see how things have shaped up and are also looking at an additional 9th key… Read Article

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U.S. Federal Reserve Raises Short-Term Rate Policy 06/13/2018 The Federal Reserve today raised the official short-term rate policy by .25 points. The move by the Federal Reserve was widely expected, the result of continued strong economic growth combined with inflation reaching the Fed’s target. The Cox Automotive Industry Insights team continues to monitor interest rate trends, as higher rates and tighter credit are already leading to softening retail demand. Below you will find commentary… Read Article

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