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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.
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Smoke On Cars
4 min read
Auto Market Weekly Summary 06/30/2025 Key Highlights: Consumer spending on motor vehicles and parts dropped 6.1% in May, the steepest monthly decline among major durable goods categories. The average consumer’s ability to spend weakened as real personal income declined by 0.4% and the savings rate fell to 4.5%, signaling potential headwinds for big-ticket purchases, such as vehicles. Plans to purchase a vehicle within the next six months remained stable at the… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
5 min read
Cox Automotive Auto Market Report: June 24 06/24/2025 Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading indicators from Cox Automotive’s extensive data ecosystem. Download this week’s presentation… Read Article
Auto Market Report Market Insights Smoke on Cars Economy & Trends
3 min read
Auto Market Weekly Summary 06/23/2025 Key Highlights: Declining vehicle sales drove the retail sales decrease in May, but inflation-adjusted sales remained higher compared to last year. The Fed remains on hold as it monitors inflation and labor data. Auto loan rates are unlikely to ease anytime soon as the Fed holds steady amid a more pessimistic economic outlook. Retail Sales Retail sales in May declined more than expected, driven mainly by… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
3 min read
Latest No-Rate-Change Decision Marks Start of a Long Summer of Waiting 06/18/2025 The Fed left monetary policy unchanged today at the conclusion of its fourth scheduled Federal Open Market Committee (FOMC) meeting of 2025. This was the fourth consecutive no-change decision this year, but this meeting featured souring forecasts with lower economic growth, higher inflation, and higher unemployment. Their median expectation remains for two rate cuts in 2025, but more voting members are leaning towards no rate cuts.… Read Article
Market Insights Smoke on Cars Commentary & Voices Economy & Trends
4 min read
Auto Market Weekly Summary 06/16/2025 Key Highlights: Inflation data has yet to show much of an impact from tariffs, as the consumer price index (CPI) was softer than expected again in May. Auto loan credit availability improved in May as all channels and all lender types loosened credit access. Auto loan performance was mixed, with 60-day+ delinquencies rising and defaults falling in May. Inflation Inflation data has yet to show much… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
5 min read
Cox Automotive Auto Market Report: June 10 06/10/2025 Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading indicators from Cox Automotive’s extensive data ecosystem. Download this week’s presentation… Read Article
Auto Market Report Market Insights Smoke on Cars Economy & Trends
3 min read
Auto Market Weekly Summary 06/09/2025 Key Highlights: The labor market remains resilient but is clearly slowing. The new-vehicle market is adjusting to price sensitivity with increased discounting. Used-vehicle sales softened in May, but year-over-year trends remain positive. Labor Market The employment report for May was mostly better than expected, but reflects slowing job growth as the economy adjusts to tariffs and much slower immigration. Employers added 139,000 jobs in May, exceeding… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
4 min read
Auto Market Weekly Summary 06/02/2025 Key Highlights: Consumer spending on motor vehicles and parts declined 0.6% in April, easing back after a sharp 9.8% surge in March, suggesting a return to more typical demand levels. Vehicle purchase intent improved in May, with plans to buy a vehicle in the next six months reaching their highest level since December. Real personal income growth and a rising savings rate point to stronger household… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends
5 min read
Cox Automotive Auto Market Report: May 27 05/27/2025 Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading indicators from Cox Automotive’s extensive data ecosystem. Download this week’s presentation… Read Article
Auto Market Report Market Insights Smoke on Cars Economy & Trends
3 min read
Auto Market Weekly Summary 05/27/2025 Key Highlights: Existing home sales fell to a seasonally adjusted annual rate of 4.00 million in April, matching Great Recession lows, even as inventory rose 20.8% year over year and prices increased 1.8%. Continuing jobless claims rose to 1.90 million, reflecting slower hiring, but overall unemployment trends remain below pre-pandemic levels. Auto loan defaults surged 20.1% month over month in April, pushing the annualized default rate… Read Article
Auto Market Weekly Summary Market Insights Smoke on Cars Economy & Trends

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