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Automotive Industry:United States: Difference between revisions
Automotive Industry:United States (view source)
Revision as of 18:20, 15 January 2024
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* Moderate net shares of banks reported tighter standards for auto. | * Moderate net shares of banks reported tighter standards for auto. | ||
* Banks reported tightening most queried terms on auto loans, on net. In particular, a moderate net share of banks reported wider interest rate spreads on such loans, while modest net shares reported higher minimum repayments and higher minimum credit score requirements. | * Banks reported tightening most queried terms on auto loans, on net. In particular, a moderate net share of banks reported wider interest rate spreads on such loans, while modest net shares reported higher minimum repayments and higher minimum credit score requirements. | ||
== Forecast 2024 == | |||
=== December 2023 === | |||
[[File:Screenshot 2024-01-12 131349.png|center|thumb|784x784px|https://www.coxautoinc.com/market-insights/2024-cox-automotive-forecasts-full-year/]] | |||
== Forecasts 2023 == | == Forecasts 2023 == | ||
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* '''The Manheim Used Vehicle Value Index forecast is expected to finish the year down 2.2% year over year.''' Risks remain in the fourth quarter, including the United Auto Workers strike, a possible economic slowdown, and political uncertainty that puts downward pressure on consumer sentiment.<ref name=":4" /> | * '''The Manheim Used Vehicle Value Index forecast is expected to finish the year down 2.2% year over year.''' Risks remain in the fourth quarter, including the United Auto Workers strike, a possible economic slowdown, and political uncertainty that puts downward pressure on consumer sentiment.<ref name=":4" /> | ||
* The total '''used-vehicle sales''' forecast for 2023 remained the same by Cox Automotive to be '''35.7 million, 2% below 2022.''' | * The total '''used-vehicle sales''' forecast for 2023 remained the same by Cox Automotive to be '''35.7 million, 2% below 2022.''' | ||
* | * Cox Automotive raised its '''new car sales full-year forecast to 15.4 million''', from 15 million in June. | ||
== Individual Manufacturer Performance == | == Individual Manufacturer Performance == | ||
* Volkswagen Sales are down 13.6% y/y in 2022 from 641,094 cars sold in 2021 to 554,145 in 2022. <ref>https://www.coxautoinc.com/wp-content/uploads/2023/01/Jan-12-2023-Cox-Automotive-Industry-Insights-and-Forecast-Call-Presentation.pdf Page 27</ref><br /> | * Volkswagen Sales are down 13.6% y/y in 2022 from 641,094 cars sold in 2021 to 554,145 in 2022. <ref>https://www.coxautoinc.com/wp-content/uploads/2023/01/Jan-12-2023-Cox-Automotive-Industry-Insights-and-Forecast-Call-Presentation.pdf Page 27</ref><br /> | ||