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Auto Market Experiences Ups and Downs

Cox’s Auto Market Weekly Summary for January 13 shared both positives and negatives.

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Demand Destruction a Concern for 2023

Auto industry analysts remain on high alert for “demand destruction” as high interest rates, escalating vehicle costs, and a down economy threaten auto sales.

Down Economy Requires Dealers to Up Their Game, Say Experts

In a down economy, industry experts recommend dealerships offer a range of finance and vehicle options to address budgetary concerns.

Uber Doubles Q2 Revenue

The company saw revenue more than double to $8.1 billion as customers continued to hail rides and order takeout food.

Dealers Will Not Feel Recession Impacts Immediately

A recession won’t affect U.S. auto dealers and manufacturers until the 12- to 18-month range, says Jonathan Smoke, chief economist-Cox Automotive.

GM and Ford CEOs on Heightened Watch for Signs of a Recession

General Motors and Ford Motor Co. CEOs say they are watching for signs of a U.S. recession, despite demand for autos being strong.

Fewer Consumers Sticking to New-Car Budgets, CNW Reports

The number of consumer strictly adhering to their budget is dropping to pre-recession levels, according to the firm’s monthly report. And the number of car buyers for whom price is no object is on the upswing.

Predicting the Next Recession

The industry is five years removed from the Great Recession. Accounting expert says that means the next cycle is looming and offers his take on what that means for dealers.

Attractive Financing Boosts Q2 Used-Vehicle Values, Manheim Reports

Strong consumer demand and attractive financing drove up both volume and values for used cars during the second quarter, Manheim reports.

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Pres. Obama to Visit Kansas Ford Plant, Detroit News Reports

President Barack Obama will reportedly visit Ford Motor Co.’s Kansas City Assembly plant in Missouri this week. The visit, scheduled for Friday, aligns with the five-year anniversary of the 2008 financial crisis.

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