The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Download this week’s presentation.
General Motors closed 2022 on a high note, which could mean an upside surprise when the automaker reports earnings for the fourth quarter and full-year 2022 on Tuesday, Jan. 31. Financial analysts forecast that GM will report a 22% improvement in quarterly earnings from the fourth quarter of 2021 on revenue climbing to $42 billion. … Continued
The fourth quarter saw a slowing in real economic growth, which followed a larger increase in the third quarter. Consumer spending slowed, but declining imports and inventory increases helped deliver the relatively strong number, which looked better than it really was. Consumer spending fell in December as personal income growth also slowed. Core inflation declined, … Continued
Hyundai Motor Company, which includes the Hyundai, Kia and Genesis brands, had a best-ever fourth quarter in the U.S. on a number of fronts, which should help the South Korean automaker’s financial results that will be announced on Thursday, Jan. 26. The U.S., where Hyundai Motor sells all three brands and where Hyundai and Kia … Continued
Retail sales declined more than expected in December, and adjusted for inflation, retail sales were down from a year ago. However, retail sales do not include spending on most services including travel, which appears to have remained strong in the latest credit card spending data for December. Residential construction fell in December, and with permits … Continued
Welcome to the monthly Manheim Market Insights update. This month, Jeremy Robb, senior director of Business Intelligence, is picking up the narrative for this monthly check-in on what we are seeing in used wholesale and retail markets, all through the wide lens of the data available from Cox Automotive. This month’s video highlights the mid-month … Continued
Service activity increased and service revenue decreased month over month – both by less than one percent – at U.S. franchised dealerships in December, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Revenue Index is up year over year while the Repair Order Volume Index is down compared to December … Continued
The 13th annual Cox Automotive Car Buyer Journey Study reveals that satisfaction with the car buying process declined in 2022 for the second straight year. The 2022 Car Buyer Journey Study shows vehicle buyers were frustrated with high prices, limited availability, and the amount of time required to complete the process. Used-vehicle buyers, who are … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.5% from December in the first 15 days of January. The mid-month Manheim Used Vehicle Value Index rose to 222.5, which was down 13.7% from the full month of January 2022. The seasonal adjustment drove most of the gains. The non-adjusted price change … Continued
New-vehicle affordability declined again in December and reached a new low in 2022, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Auto loan rates reached a new 20-year high and the average new-vehicle price increased to a record-high $49,507. The number of median weeks of income needed to purchase the average new vehicle in December … Continued