Cox’s Auto Market Weekly Summary for January 13 shared both positives and negatives.
Auto industry analysts remain on high alert for “demand destruction” as high interest rates, escalating vehicle costs, and a down economy threaten auto sales.
In a down economy, industry experts recommend dealerships offer a range of finance and vehicle options to address budgetary concerns.
The company saw revenue more than double to $8.1 billion as customers continued to hail rides and order takeout food.
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.
General Motors and Ford Motor Co. CEOs say they are watching for signs of a U.S. recession, despite demand for autos being strong.
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.
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.
Strong consumer demand and attractive financing drove up both volume and values for used cars during the second quarter, Manheim 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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