Automotive
Weekly Economic Update
The economy may have slowed, but sentiment increased along with gas prices reentering the atmosphere. Most people seem less concerned with what Wall Street is feeling and more focused on making good choices for their families, so each piece of consumer-favoring news brings buyers back into the market. How tidy are your leads? ☎️
5 Minutes of Fresh Perspective
Reading the daily news doesn't have to suck. Get the email that will make you laugh and keep you informed...for free!
The Automotive Advisor Team's weekly update provides a quick summary of the week's data. We hear from John Ellis each Friday during David Long's All Things Used Cars, but here are the data points in case you miss the show.
- 💰 Economy: Growth slowed to 2.0% in Q1 2023; inventories declined.
- 😎 Consumer Sentiment: Sentiment index is up 0.1%; gasoline prices fell 26% YoY.
- 📈 New Car Outlook: Average new vehicle price up 1.6% YoY.
- 🎢 Used Car Outlook: Supply is 10% lower; sales are slightly up; prices are steady.
- 📉 Wholesale Outlook: 3-year-old index depreciated 0.8%.
- 🏔️ Retail Margin Outlook: Margin spread positive; highest for 5-year-old models.
