“All Things Used Cars” Auto Market Update 6-6-2024

“All Things Used Cars” Auto Market Update 6-6-2024   Economic Source Personal Income Growth: Decelerated to 0.3% from 0.5% in March. Employee Compensation Growth: Slowed to 0.2% from 0.6% in March. Government Transfer Payments: Growth decelerated to 0.3% from 0.8%, with reductions in Medicaid, Social Security payments, and unemployment compensation. Personal Income: The pace slowed…

“All Things Used Cars” Auto Market Update 5-10-2024

“All Things Used Cars” Auto Market Update 5-10-2024   Economic Automotive Outlook: Source The Q1 2024 Cox Automotive Dealer Sentiment Index shows an overall increase in current market sentiment, but the profitability index dropped to nearly an all-time low. With the new-vehicle inventory index hitting an all-time high in the first quarter, most franchised dealers…

“All Things Used Cars” Auto Market Update 5-3-2024

Economic Automotive Outlook: Source   Economic growth is expected to slow towards the end of 2024 from the combination of stubborn core inflation, higher interest rates, tighter lending standards, and increased uncertainty. Consumer spending will be squeezed as savings accumulated during the pandemic are depleted, however strong confidence will partially offset this. Experian projects CPI…

“All Things Used Cars” Auto Market Update 4-26-2024

Economic Automotive Outlook: Source For the third consecutive month, median one-year-ahead inflation expectations remained unchanged at 3.0% in March. In contrast, the median three-year ahead inflation expectations increased to 2.9% from 2.7%, whereas the median five-year ahead decreased to 2.6% from 2.9%.  The implications are important for rate cuts that will impact retail demand later…