October saw an acceleration of job gains as the labor market is improving following the peak of the Delta variant wave and the end of the pandemic unemployment assistance in September. New-vehicle sales showed gains over September, which posted the lowest seasonal pace of sales. The used-vehicle retail market was flat and still slower than … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 9.2% month over month in October. This brought the Manheim Used Vehicle Value Index to 223.7, a 38.1% increase from a year ago. Some of the monthly increase is a result of the seasonal adjustment, as October typically sees above-average vehicle depreciation … Continued
In October, 100,182 total fleet units were sold, a 2% month-over-month increase compared to 98,415 in September and a 24% decrease from October 2020, which recorded 132,560 units. This brings the 2021 year-to-date total combined large rental, commercial, and government purchases of new vehicles to 1.39 million units, a 1% increase from this time in … Continued
Honda reports quarterly financial results on Friday, November 5. The July-to-September period marks the second quarter of Honda’s fiscal year that ends March 31, 2022. In the U.S., Honda struggled with production cuts and low inventories throughout the quarter due to the global computer chip crisis. The Honda brand ranked at the bottom among automakers … Continued
Toyota’s financial results for the recently ended quarter will be posted on Friday, November 5. The July-to-September period marks the second quarter of Toyota’s fiscal year that ends March 31, 2022. Toyota has weathered the chip shortage better than most. In August, the automaker announced it would reduce its global production plans for September and … Continued
Hyundai cracked the list of Top 5 Most Considered Brands in the third quarter, according to the Kelley Blue Book Brand Watch report for non-luxury brands. It was the first time since 2012 that Hyundai ranked that high. The Kelley Blue Book Brand Watch™ report is a consumer perception survey that also weaves in consumer … Continued
U.S. monetary policy is now entering a tightening phase as the Fed issued their official statement following their seventh meeting of 2021. As expected, the Fed announced that tapering would begin this month. We know now that tapering will proceed, but the process is expected to precede rate increases. At this point, rate increases are … Continued
Success or failure in the new-car business is often presented through the lens of monthly sales results. It’s a lot like baseball, or football, or any of the sports we love, where our favorite auto brands are ranked by their monthly sales “scores” and industry analysts – the fans! – pour over monthly volumes to … Continued
The declining trend in new daily COVID-19 cases continued last week but the rate of decline slowed, and consumer sentiment is still declining. The Delta variant wave peaked in September and caused a slowing in the pace of real growth in the economy. Third-quarter real GDP grew only 2% following a 6.7% increase in the … Continued
Stellantis reports third-quarter 2021 financial results on the morning of Thursday, October 28. The earnings of the company formed early this year with the combination of PSA Group (Peugeot) and Fiat Chrysler will reflect the impact of the global computer chip shortage. In Europe, where Stellantis is headquartered, the automaker was forced to make many … Continued