Market Insights and Outlook - Cox Automotive Inc.

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.

5 min read

Auto Market Weekly Summary 10/02/2023 Economic growth for the second quarter was unrevised at 2.1%, but revisions to historical data caused last year to be weaker and the first quarter to be stronger. As a result, the second quarter growth rate represented a modest slowing, and consumer spending growth slowed substantially. Consumer spending growth decelerated in August, but income growth picked up. Aggregate inflation picked up in August, but core inflation… Read Article

Market Insights Smoke on Cars Economy & Trends

7 min read

UAW Strike Update 09/29/2023 Earlier this week, our team posted its new-vehicle sales forecast for September and the third quarter. Overall, as our senior economist Charlie Chesbrough notes, many analysts can’t help but be ‘pleasantly surprised’ with industry performance so far. There are certainly headwinds blowing in the automotive business, but our industry – thanks in large part to recovering fleet sales – continues to post solid new-vehicle sales that… Read Article

Market Insights Smoke on Cars

1 min read

Q3 2023 Cox Automotive Industry Insights and Sales Forecast Call Replay Available 09/26/2023 A replay of the Q3 2023 Cox Automotive Industry Insights and Sales Forecast Call held on Tuesday, Sept. 26, is available below. Chief Economist Jonathan Smoke and the Economic and Industry Insights team shared data and insights regarding the performance of the consumer, industry, and economy in the third quarter, including updated 2023 Cox Automotive forecasts and the Cox Automotive Q3 and September U.S. auto sales forecast. Plus, take a listen to DJ… Read Article

sales forecast U.S. auto sales Market Insights Smoke on Cars Commentary & Voices

5 min read

Auto Market Weekly Summary 09/25/2023 New construction trends were mixed in August with starts down, permits up, multifamily weak, but single family more stable. Existing home sales declined again in August when a small increase had been expected. Jobless claims are declining in September. The labor market is not as strong as it was a year ago, and claims have increased in 2023, but they are declining now by almost every… Read Article

Market Insights Smoke on Cars Economy & Trends

4 min read

Fed Holds Rate Policy Steady, But Bond Market Already Raised Actual Rates 09/20/2023 As expected, the Fed left rates unchanged, at least regarding the official short-term rate policy. However, they made it clear that additional rate hikes could come, as they remain “highly attentive to inflation risks.” The Fed will hold two more meetings in 2023; one on November 1 and another on December 13. The Fed also upwardly revised economic forecasts, and their revised views of GDP and… Read Article

Market Insights Smoke on Cars Economy & Trends

1 min read

CarDealershipGuy Podcast: What’s Next for Car Prices and Auto Lending? | Jonathan Smoke, Chief Economist at Cox Automotive 09/20/2023 Cox Automotive Chief Economist Jonathan Smoke joins CarDealershipGuy Podcast to discuss the state of auto lending and what's to come, how interest rates are impacting the car industry, the No. 1 issue for car shoppers right now, the best and worst car deals on the market, what a UAW strike could mean for the auto industry, winners and losers in the EV space and will used-car… Read Article

News Coverage Smoke on Cars

1 min read

How the United Auto Workers Strike Could Impact Q4 Sales — Jonathan Smoke | Cox Automotive 09/19/2023 CBT News, Sept. 19, 2023 – Encouraging news of improving sales and affordability over the third quarter arrived amidst a backdrop of concern over a possible labor strike as the deadline for United Auto Workers leaders and Detroit-Three car manufacturers to negotiate a contract drew steadily closer. Now, 13,000 employees are staging a walkout at Stellantis, General Motors and Ford plants across the country, threatening not only… Read Article

News Coverage Smoke on Cars

7 min read

Auto Market Weekly Summary 09/18/2023 The headline, aggregate measure of inflation increased on a seasonally adjusted basis in August. The Consumer Price Index (CPI) increased 0.6%, up from a 0.2% increase in July. Higher fuel prices were a key driver of the increase in August. The core CPI, which excludes Food and Energy, increased 0.3%, which was up from a 0.2% increase in July. Food and beverages, apparel, and transportation saw accelerating… Read Article

Market Insights Smoke on Cars Economy & Trends

6 min read

UAW on Strike 09/15/2023 As widely expected, the United Auto Workers (UAW) have officially called a strike against the domestic, Detroit-based auto brands (D3). The contract between the UAW and automakers expired Thursday night, and negotiations over a new, four-year contract broke down. The UAW is pushing for major improvements in a number of areas, including wages, cost-of-living adjustments, job security, work-life balance and retiree benefits. The automakers, staring down… Read Article

Market Insights Smoke on Cars

5 min read

Cox Automotive Auto Market Report: September 12th 09/12/2023 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

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