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Tag Archives: Bidenomics
June 2024 U.S. Transportation Sector Unemployment at 4.8%
Unemployment in the transportation sector was higher than overall unemployment. BLS said that the U.S. unemployment rate, not seasonally adjusted, in June 2024 was 4.3% or 0.5 percentage points below the transportation sector rate. Seasonally adjusted, the U.S. unemployment rate in June 2024 was 4.1%. Continue reading
Chinese Trade Wars – Exports Growing, Prices Dropping
Two very real problems are increasing for non-Chinese global automakers. First, is the penetration rate. This is the market share of the vehicles that are the future of the companies that will survive what is an historic reshaping of a global industry. Here, so-called New Electric Vehicles – [NEVs – battery electric vehicles, plug-in hybrids and range-extended electric vehicles combined] that have been heavy promoted, subsidized and pushed forward by the Chinese government are now accounting a 43% share in April, an historic high. The economies of scale are enormous and a clear Chinese competitive advantage. Continue reading
Posted in auto news, economy, electric vehicles, electronics, environment, global warming, manufacturing, marketing, mobility company, news analysis, public health, sales, software defined vehicles
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Administration, Bidenomics, BYD Qin L, Chinese Trade Wars, consumer electronics, Global Data Analyst comment, GlobalData, internet of things, Ken Zino, Nan Zhang, Xiaomi
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US Light Vehicle Sales Strong in May
“May is usually an important month for the automotive industry, with warmer temperatures and Memorial Day sales events traditionally bringing consumers out to buy vehicles. This year was no different, with incentives being significantly higher than a year ago, allowing for some buyers to make deals that were not possible when inventory levels were low,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
The April 2024 U.S. Jobs Report – is Stable Good?
The U.S. labor market added 175,000 jobs in April, the White House said today via its Council of Economic Advisors. More than 60% of private-sector industries added jobs. The unemployment rate ticked up slightly to 3.9% – it went from 3.83% to 3.86% – and the labor force participation rate held steady at 62.7%. AutoInformed sees nothing in the report that is practically worrisome to the auto industry. What will be telling is if the companies can adjust supply to demand without incurring losses. Continue reading
EPA Grants Emergency Fuel Waiver for Ethanol
The U.S. Environmental Protection Agency today issued an emergency fuel waiver to allow E15 gasoline – gasoline blended with 15% ethanol – to be sold during the summer driving season. This allows Iowa, Kansas, Missouri, Nebraska, and Nine Tribal Nations to sell the fuel that otherwise would be banned for the summer. Estimates show that on average, E15 is about $0.25 a gallon cheaper than E10. Continue reading
Posted in alternative fuels, economy, energy, environment, fools 'n frauds, news analysis, people
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bidenomics, clean air act, department of energy, epa, Fuel Waiver for E-15 Sales, Ken Zino, Michael S. Regan, President George H. W. Bush, reid vapor pressure
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More US Jobs Coming from Chips and Science Act
With investments such as those at TSMC Arizona, the United States is now on track to produce roughly 20% of the world’s leading-edge chips by 2030. With total capital expenditures of more than $65 billion, TSMC Arizona’s investment is the largest foreign direct investment in a greenfield project in U.S. history. Continue reading
Posted in economy, electric vehicles, electronics, manufacturing, milestones, news analysis
Tagged 2 Nanometer or More Advanced Chips, AMD, apple, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bidenomics, CHIPS and Science Act, Dr. Mark Liu, Ken Zino, large-scale datacenters, machine learning, NVIDIA, President Joe Biden, Qualcomm, Taiwan Semiconductor Manufacturing Company, The U.S. Department of Commerce, TSMC Arizona Corporation
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US Auto Sales Hitting Streak – 20 Months of Growth in March
US Light Vehicle (LV) sales grew 5.5% year-on-year (YoY) in March to 1.44 million units, according to an analysis just released by the respected GlobalData consultancy.* This means that under the Biden Administration the economy had another month of YoY … Continue reading
Posted in auto news, economy, marketing, news analysis, results, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Administration economy, Bidenomics, David Oakley, GlobalData, Jeff Schuster, Ken Zino, March 2024 US light vehicle sales
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March US Vehicle Sales Up. Record Q1 Consumer Spending!
Total US new-vehicle sales for March 2024, are projected to reach 1,525,700 units, a 12.1% increase from March 2023, according to a joint forecast today from J.D. Power and GlobalData.* The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 16.4 million units, up 1.6 million units from March 2023. New-vehicle total sales for Q1 2024 are projected at 3,830,500 units, a 4.5% increase from Q1 2023 when adjusted for selling days as the Biden Administration recovery continues.
New-vehicle retail sales for March 2024 are also expected to increase when compared with March 2023. Retail sales of new vehicles are forecast at 1,225,000 units, a 10.7% increase from March 2023. New-vehicle retail sales for Q1 2024 are projected at 3,066,500 units, a 4.5% increase from Q1 2023 when adjusted for selling days. Continue reading
Posted in auto news, economy, marketing, milestones, news, news analysis, results, sales, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bidenomics, David Oakley, Elizabeth Krear, GlobalData, j.d power, Ken Zino, March US new vehicle sales, Thomas King
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Bidenomics and the State of the Union
Once again President Biden took on the failed economic polices of the party of no hope, aka Republicans, and the former mis-administration disaster that he inherited in his State of the Union address last night. Nowhere is the contrast between good public policy and the republican politics of hate more evident than the ongoing recovery from the pandemic.
During an inspiring campaign speech that lasted more than an hour, Biden addressed – among other things – our economy. “I came to office determined to get us through one of the toughest periods in our nation’s history. And we have. It doesn’t make the news but in thousands of cities and towns the American people are writing the greatest comeback story never told. … America’s comeback is building a future of American possibilities, building an economy from the middle out and the bottom up, not the top down, investing in all Americans to make sure everyone has a fair shot … I inherited an economy that was on the brink,” Biden said. Continue reading
Posted in AutoInformed Editorial, blog, customer satisfaction, economy, environment, financial results, labor issues, manufacturing, news analysis, public health, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bidenomics, donald trump, Ken Zino, Republican insurrectionists, State of the Union, The Hustings
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Record Consumer Spending Forecast for US February Sales
Total new-vehicle sales for February 2024 in the US, including retail and non-retail transactions, are projected to reach 1,214,600 units, a 1.4% increase from February 2023, according to a joint forecast from J.D. Power and GlobalData* issued today. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 15.4 million units, up 0.4 million units from February 2023 as the Biden Administration economic recovery continues. Consumers are expected to spend ~$40.8 billion on new vehicles this month. This is the highest on record for the month of February, and 4.1% higher than February 2023. Continue reading
Posted in auto news, economy, marketing, news analysis, results, sales
Tagged auto industry commentary, auto news, autoinformed.com, automotive blog, Automotive news and analysis, Bidenomics, Elizabeth Krear, GlobalData, j.d power, January 2024 US vehicle sales, Jeff Schuster, Ken Zino, Thomas King, us economy
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US Vehicle Transaction Prices Down in January
The automobile market is not contributing to inflation. The extensively covered January Consumer Price Index (CPI), a key measure of inflation is widely misrepresented in AutoInformed’s opinion.
Cox Automotive* said today that it observed declines in retail vehicle prices last month, according to actual transaction data. Kelley Blue Book reported that average transaction prices for new vehicles were down by 3.5% year-over-year, Another Cox measure, Dealertrack data show average used retail prices down slightly less. “Both measures indicate the retail auto market is not pushing overall inflation higher,” Cox said. Continue reading
Posted in auto news, blog, economy, new vehicle, news analysis, prices, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Administration Recovery, Bidenomics, Cox Automotive, Jonathan Smoke, kelley blue book, Ken Zino, Manheim
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US Transportation Sector January Unemployment Flat
Unemployment in the transportation sector was higher than overall unemployment. BLS reports that the US unemployment rate, not seasonally adjusted, in January 2024 was 4.1% or 0.6 percentage points below the transportation sector rate. Seasonally adjusted, the U.S. unemployment rate in January 2024 was 3.7%, as the Federal reserve continues its indefensible ideological, anti-data tight money policy (the highest interest rates in two decades!) with little or lately no inflation in AutoInformed’s view. Continue reading
More Biden-Harris Infrastructure Projects Funded
“With this announcement, we are advancing projects so large, complex, and ambitious that they could not get funded under the infrastructure programs that existed prior to the Biden administration,” said US Transportation Secretary Pete Buttigieg. “Our INFRA and Mega programs are helping build the cathedrals of American infrastructure: truly transformative projects that will change entire regions and our entire country for the better.” Continue reading
Posted in economy, news analysis, people, shows and events, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden-Harris Administration, Bidenomics, Infrastructure for Rebuilding America, Ken Zino, National Infrastructure Project Assistance, Pete Buttigieg
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August U.S. Auto Sales Highest Year-to-Date
After U.S. Labor Day holiday weekend sales, initial August new-vehicle sales results, as expected, are indicating healthy volume gains, according to Cox Automotive.* Full results will be in by the end of the week, but early reports suggest the extra selling days helped the auto market navigate August with strength, according to Cox Automotive Chief Economist Jonathan Smoke in his latest Auto Market Report released this morning.
“New- and used-vehicle sales volumes are at the highest level for 2024. With growing demand, supply has tightened, and prices are creeping up. For the first time this year, the popular 3-year-old product – a staple of the used-vehicle business our team tracks closely – experienced a price increase in both the wholesale and retail markets,” said Smoke. Continue reading →