“All Things Fixed Ops” Auto Market Update 2-19-2024

Economic Outlook: Source The Bureau of Labor Statistics showed: The median worker experienced a 5.5% increase in earnings during 2023. That falls short of the 7.1% inflation adjustment implemented by the Internal Revenue Service The IRS adjusts more than 60 tax provisions annually, including tax rate schedules for low to mid-income earners should see a slight increase in…

“All Things Fixed Ops” Auto Market Update 1-29-2024

Economic Outlook: Source  Consumer sentiment in the U.S. has improved much more than anticipated in January, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index surged to 78.8 in January after jumping to 69.7 in December. The University of Michigan’s report also showed continued decreases…

“All Things Fixed Ops” Auto Market Update 12-18-2023

Economic Outlook: Source It’s projected that the economy will expand at a modest 1.4% next year and 1.8% in 2025. The Fed is delivering as many as six 25-basis-point rate cuts totaling 150 basis points. Interest rates have a direct effect on consumer behavior, impacting several facets of everyday life as borrowing becomes cheaper, making large…

“All Things Used Cars” Auto Market Update 12-8-2023

All Things Used Cars: Economic Outlook: Source Staying on next year’s interest rate outlook a little longer, things are slowing in the labor market, it’s not enough to cause a panic about unemployment. The October jobs report with the economy adding just 150,000 jobs and the unemployment rate ticking up to 3.9% Over the past three months,…

“All Things Fixed Ops” Auto Market Update 12-4-2023

Fixed Ops Economic Outlook: Source Discretionary spending is increasingly tilting toward experiences outside the home, especially among young adults. While residual strength in the labor market continues to support household finances, certain groups — including lower earners, student debt holders, and parents — are experiencing growing budgetary pressures. Baby boomers (60-75) tend to be the…