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Smoke on Cars
Chief Economist Jonathan Smoke shares his insights on macroeconomic trends, business cycles, demand and the economic factors influencing the automotive industry today.
All
Smoke on Cars
Commentary & Voices
Data Point
Economy & Trends
CAMIO
5 min read
Cox Automotive Auto Market Report: May 23rd
05/23/2023
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
Economy & Trends
5 min read
Auto Market Weekly Summary: May 22
05/22/2023
Retail sales increased slightly in April from March but were down from a year ago. Half of the major categories are down year-to-year. New residential construction trends were mixed in April, but building permits now exceed starts, and the activity indicates that single-family construction is stabilizing. Existing home sales declined in April as supply limits sales. This is also a key reason why new construction and…
Read Article
Market Insights
Smoke on Cars
Economy & Trends
5 min read
Auto Market Weekly Summary: May 15
05/15/2023
Year-over-year inflation declined again in April, in line with expectations. Consumers are increasingly tapping credit cards. Auto loan performance improved in April from the seasonal impact of households receiving tax refunds. Even so, loan performance remains worse than a year ago. Auto credit access declined in April across all auto sales channels and all lender types, according to the Dealertrack Credit Availability Index. Inflation Declined From…
Read Article
Market Insights
Smoke on Cars
Economy & Trends
1 min read
Vehicle Shortages Explained, Car Price Predictions & That Time CDG Bought 50 Chevys — Jonathan Smoke
05/12/2023
CarDealershipGuy Podcast, May 12, 2023 — Cox Automotive Chief Economist Jonathan Smoke joins CarDealershipGuy for a wide-ranging discussion on the automotive industry covering inventory, pricing and how the pandemic has permanently transformed the industry and more. Here's the rundown: Intro (00:51) Our unique market environment (04:12) Jonathan's background (08:45) The Great Digitization (11:46) That time CDG bought 50 Chevys at auction (13:40) Are we in a…
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News Coverage
Smoke on Cars
3 min read
As the Debt Ceiling Debate Rages, the Auto Market Braces for Stormy Weather
05/11/2023
This year has been a whirlwind of economic headlines. First, it’s been the Fed and the ongoing will-they-or-won’t-they debate on interest rates. Last week came some clarity, an expected pause, but that clarity arrived as the debt-ceiling debate shifted into high gear. Now the worry is the U.S. government defaulting on its debt and spinning the economy into a recession. For our industry, thankfully, the Federal…
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Market Insights
Smoke on Cars
Economy & Trends
5 min read
Cox Automotive Auto Market Report: May 9th
05/09/2023
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
Economy & Trends
5 min read
Auto Market Weekly Summary: May 8
05/08/2023
The latest employment report represented strong and improving labor market conditions, which was unexpected. Job growth in April accelerated, the unemployment rate declined, and wage growth accelerated. All major industry sectors added jobs in April, but services represented most of the gains. The labor market remains strong despite the Fed tightening monetary conditions and credit access tightening from bank failures. Last Friday’s report will not be…
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Market Insights
Smoke on Cars
Economy & Trends
5 min read
Fed Raises But Prepares to Shift to “Wait and See” Mode for Uncertain Summer
05/03/2023
The Fed raised a quarter point today, which was widely expected. What was more important was the lack of language suggesting additional firming was anticipated, which is the Fed’s way of saying further increases are less likely than not. The increase was the tenth in a row. The Fed has raised the Fed Funds Rate from 0% at the lower bound fourteen months ago to 5%…
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Market Insights
Smoke on Cars
Economy & Trends
5 min read
Auto Market Weekly Summary: May 1
05/01/2023
First-quarter real GDP growth reflected a slowing economy, but underneath the headline deceleration was an improvement in consumer spending. Consumer incomes and spending were stable in March. The personal savings rate increased. Key measures of inflation showed downward progress, but they remain elevated. New home sales increased in March, while pending home sales declined. Total home sales are still falling as new homes are a much smaller…
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Market Insights
Smoke on Cars
Economy & Trends
8 min read
24K Gold Hits to Explain the Fed
04/28/2023
Don't Stop the Music, An Ode to the Fed I’ve assembled this playlist of great tracks reaching all the way back to the 1950s that help explain the circumstances and dynamics we face as the Fed tempts fate by raising rates to vanquish inflation that is already coming down – while banks are failing, and manufacturing and housing are already in a recession. The Federal Open…
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Market Insights
Smoke on Cars
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