AUT2408. Economic and Auto Market Update

In this session, Jonathan Smoke will review the current state of the US economy and what slowing growth, high rates, and growing uncertainty will mean for the vehicle market through the rest of 2024 and next year. He will review the trends that directly impact vehicle demand, including job growth, inflation, consumer credit, and interest rates, and will share the current market conditions for both new and used cars. He will demonstrate how issues such as affordability, new vehicle supply, loan rates, and consumer sentiment affect retail vehicle demand. He will review the latest market conditions for both new and used cars, including pricing, supply, and the industry shift to electrification. The session will close with a review of forecasts including potential impacts from the US election.

Learning Objectives:

• Identify impact of macroeconomic trends on vehicle demand.
• Recognize the role of affordability on changing supply and demand in the vehicle market.
• Estimate state of balance between supply and demand in the auto market.
• Estimate future market conditions and election outcome scenarios, and their likely implications for the vehicle market.