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Cox Automotive Analysis: Honda’s Quarterly U.S. Market Performance 08/09/2022 Honda has been warning investors that the global computer chip shortage and rising raw material costs would hurt profits. Just how much will become clearer when the Japanese automaker posts financial results on Wednesday, August 10, for the April-to-June quarter, the automaker’s first quarter of its fiscal year that started April 1. Honda said in May that its annual earnings would fall by 7% instead of… Read Article

Honda market performance Market Insights Data Point

Auto Market Weekly Summary 08/08/2022 The July employment report marked a milestone in the pandemic recovery, indicating no sign of a recession. Job growth in July accelerated to 528,000 jobs created. Unemployment fell to 3.5%, the same as it was in February 2020, though the number of jobs on payrolls is now higher than it was in February 2020. Labor force participation declined slightly, and growth in average hourly earnings year-over-year… Read Article

Market Insights Smoke on Cars

July Fleet Sales Decrease Month Over Month, Increase 10% from July 2021 08/05/2022 Sales into large fleets, not including sales into dealer and manufacturer fleets, decreased 15.3% month over month in July to 127,384 units, according to an early estimate from Cox Automotive. July 2022 Fleet Sales Combined sales into large rental, commercial and government fleets were up nearly 10% year over year in July. Sales into rental were down 7% year over year, while sales into commercial fleets were… Read Article

Fleet fleet sales Market Insights Data Point

Wholesale Used-Vehicle Prices Decrease Minimally in July from Seasonal Adjustment 08/05/2022 Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 0.1% in July from June. The Manheim Used Vehicle Value Index declined to 219.6, up 12.5% from a year ago. The non-adjusted price change in July decreased 3.2% compared to June, leaving the unadjusted average price up 10.2% year over year. In July, Manheim Market Report (MMR) values saw larger-than-normal declines that decelerated as… Read Article

Manheim Used Vehicle Value Index MUVVI Market Insights Data Point

Q2 2022 Kelley Blue Book Brand Watch Non-Luxury Report: Car and Electrified Vehicle Shopping Rise on High Gas Prices; Toyota Stays No. 1 08/04/2022 High gas prices led shoppers of non-luxury vehicles to consider traditional cars at a level not seen since before the pandemic, according to the most recent Kelley Blue Book Brand Watch Report™ on non-luxury shopping. Shopping for electrified vehicles also rose. Toyota remained the most-shopped brand, widening the gap with No. 2 Ford. The Kelley Blue Book Brand Watch Report is a consumer perception survey that… Read Article

Kelley Blue Book Brand Watch Non-Luxury Market Insights Commentary & Voices

Auto Loan Defaults Are Increasing, But We Are Not Heading Into A Repo Crisis 08/03/2022 As I noted after their July meeting, the Federal Open Market Committee has moved the target rate more in the past two months than at any point since 1981, and they are not done yet. The Fed’s aggressive stance on tackling inflation has resulted in increased borrowing rates that will likely move to 3.5% or higher by year-end. The higher rates are designed to cool the… Read Article

Market Insights Smoke on Cars Economy & Trends

Cox Automotive Analysis: Toyota’s Quarterly U.S. Market Performance 08/03/2022 Toyota Motor Corporation posts financial results for the April-to-June quarter on Thursday, August 4, the automaker’s first quarter of its fiscal year. Like its Japanese competitors, Toyota has warned that the chip shortage, shutdowns due to COVID and rising materials costs will impact earnings. In the U.S., one of Toyota’s most important markets, sales were down for both Toyota and Lexus as the brands had among… Read Article

Toyota market performance Market Insights Data Point

Cox Automotive Auto Market Report: August 2nd 08/02/2022 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. Read Article

Market Insights Smoke on Cars

Auto Market Weekly Summary 08/01/2022 Real GDP declined again in the second quarter, as falling inventory accumulation and lower residential construction spending decreased private investment. Even so, consumer spending did grow over the first quarter. We have now seen two negative quarters in a row on real GDP, but the technical declines do not mean the U.S. is in a recession. Consumer spending growth accelerated in June, and even with inflation… Read Article

Market Insights Smoke on Cars

July Delivers Higher Auto Rates with the Fed Promising More Ahead 07/27/2022 As widely expected, the Fed raised the target for the Federal Funds Rate by three-quarters of a percentage point today as it remains steadfast in its goal to rein in inflation. Combined with the increase made in June, the Fed has now moved the target rate more in two months than at any point since 1981, and they are not done yet. The Fed has now… Read Article

Market Insights Smoke on Cars Economy & Trends

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