Podcast appearances and mentions of jonathan smoke

Shoot us a Text.Episode #1054: We're kicking off Tuesday week with a look at surging used car sales and shrinking supply, BYD's aggressive EV price cuts in China, and a Waffle House partnership that brings hash browns and high-speed charging together in the South.Show Notes with links:Automotive News released its top Used Car retailers list showing that the stabilizing of the 2024 market led to some big gains. However, the current complexities and quickly shrinking market day supply is testing even the best players.Used-only dealers like CarMax, Carvana, and DriveTime saw strong 2024 growth as supply chains normalized, with Carvana up 33% year-over-year.Dealers are creatively sourcing inventory—prioritizing trade-ins and direct-from-customer purchases to avoid costly auctions.The current used vehicle supply stands at just a 43-day market supply, the lowest since 2021, with lower-price vehicles hardest to find.Tariff fears have driven consumers to buy quickly, pushing prices for the top 50 used models to an average of nearly $29,000“There isn't a lot of room for error anymore in the post-COVID used-car world,” said Bill Solko, dealer principal of Automotive Avenues.Meanwhile Cox Automotive's Jonathan Smoke warned, 2025 is going to be a roller coaster for this industry,” BYD just launched a fresh round of EV price cuts in China, triggering a market shake-up that's pummeling stocks and ramping pressure on rivals like Tesla.BYD slashed prices across several models, including a 20% cut on the sub-$10,000 Seagull hatchback now priced at an equivalent of $7,780The Chinese EV market is nearing 50% penetration — five times the U.S. rate — largely due to aggressive pricing strategies.EV maker stocks, including BYD, Li Auto, and Geely, fell sharply after the announcement, signaling investor anxiety.BYD's growing profit cushion from 2019–2024 gives it room to undercut less profitable competitors.“This new price war will put even more pressure on Tesla,” Electrek reported, especially as new players like Xiaomi ramp up.In a match made in Southern heaven, bp pulse and Waffle House are joining forces to bring 400kW ultrafast EV charging to your next roadside breakfast stop.Starting in 2026, Waffle House locations across Georgia, Texas, Florida, and beyond will host six-bay charging stations.The chargers will support both CCS and NACS connectors and deliver up to 200 miles of range in about 15 minutes.The 24/7 diner vibe adds much-needed comfort and reliability to the EV charging experience.This builds on bp pulse's growing U.S. network, which includes partnerships with Hertz and 8,000+ retail locations.“Charging up while fueling up on an All-Star Special will be convenient and fast,” said Waffle House Innovation Director David Repp.Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.Get the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/

The typical automobile manufactured in North America crosses national borders at least six times before it's ready to be sold. Tariffs are expected to increase US auto prices by thousands of dollars as companies establish new supply chains and onshore manufacturing with higher production costs. In this episode, we talk with Jonathan Smoke, Chief Economist with Cox Automotive, about the complexity of auto manufacturing supply chains, tariffs' impacts on prices and employment in the auto sector, and the outlook for a less globally integrated auto industry.

He knows the housing market and house music. He knows cars and The Cars. An economist who moved from the real estate market to the automotive market — while moonlighting as a DJ — Cox Automotive chief economist Jonathan Smoke is among our first-ever honorees in the Automotive Intelligence Awards: Industry Analysts program. Smoke joins the Auto Remarketing Podcast to talk about his career journey, day-to-day work as an economist and why putting together auto industry analysis isn't all that different than penning a tune.

Shoot us a Text.With just 2 weekends left in the year, we're excited to share that the automotive industry is set up for an excellent finish to 2024. Meanwhile, Ford is ramping down its F-150 Lightning production until the new year to meet demand, and Gen Z may just save the malls.Show Notes with links:The automotive industry is gearing up for a solid 2024 finish as inventories stabilize and aggressive year-end deals lure buyers back to showrooms. Analysts remain optimistic about continued momentum into 2025, despite policy uncertainties.Total 2024 sales are projected at 15.8–15.9 million vehicles, a solid increase from 15.6 million in 2023.  December's seasonally adjusted annual rate (SAAR) is expected to reach 17.2 million, the highest since 2021.General Motors is likely to hold its position as the top U.S. automaker, with Honda having the most gains, overtaking Stellantis in market share due to Stellantis' estimated 15% sales drop.Retail leasing activity is up 19% YoY, fueled by record-high EV incentives averaging $8,202 per transaction. EV sales are forecasted to grow 12% in Q4, contributing to the year's estimated 8% EV market share.Despite falling interest rates (below 7% for the first time in a year), high vehicle prices push average monthly payments to $740—a $15 increase over last year and $150 higher than in 2019."We've gone from ‘wait to buy' to a new marching cry of ‘buy now before prices and rates climb again,'” says Jonathan Smoke, chief economist at Cox Automotive.Ford has announced a temporary production pause for its F-150 Lightning until January 6, 2025. The decision reflects a strategic adjustment to align supply with actual market demand as the EV industry navigates a period of slower-than-expected growth.Ford sold 22,807 F-150 Lightnings in 2024, marking an 86% increase from last year. This performance places it well ahead of competitors like Chevrolet's Silverado EV (5,252 units) and Rivian's R1T (10,387 units).The pause at Ford's Dearborn, Michigan plant is designed to prevent overproduction and ensure dealerships are not overstocked with unsold inventory.Ford's strategy acknowledges that EV adoption is not growing as fast as earlier projections suggested, requiring automakers to balance innovation with market-driven production levels.As a Ford spokesperson explained: "We continue to adjust production for an optimal mix of sales growth and profitability."In a talk at the NeurIPS 2024 AI conference, former OpenAI Chief Scientist Ilya Sutskever reflected on the foundational 2014 paper that shaped modern AI—and looked ahead to where AI is going next.The era of pre-training is ending as AI is running out of quality internet data, marking the end of "Peak Data." As Sutskever put it, "Data is the fossil fuel of AI."Sutskever says we should expect smarter AI agents, synthetic training data, and models that think more like humans And that future AIs could have true reasoning, self-awareness, and unpredictable decision-making.Hosts: Paul J Daly and Kyle MountsierGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email

Shoot us a Text.With only 3 Thursdays left in the year, we're covering how General Motors has shut down its robotaxi division. Plus, dealer sentiment is up now that we're past the election, and Google has announced a potentially massive breakthrough in quantum computing.General Motors (GM) has decided to shut down its Cruise robotaxi division after years of significant investment and high hopes. Once considered a $50 billion revenue opportunity by 2030, the move signals a shift in GM's strategic focus.GM shares briefly rose following the announcement, reflecting investor relief over reducing the estimated $10 billion spent on Cruise's development.Cruise employees were notified via Slack, linking to a press release titled “GM to refocus autonomous driving development on personal vehicles,” sparking frustration among the workforceGM plans to integrate some Cruise talent into its driver-assistance technology programs while doubling down on gasoline-powered trucks and SUVs, which remain its profit drivers.CEO Mary Barra defended the decision, stating: “We looked at the amount of money to deploy a robotaxi business and to maintain that business… it's quite a bit of capital. A robotaxi business is not GM's core business.”The latest Q4 2024 Cox Automotive Dealer Sentiment Index (CADSI) brings a wave of optimism among U.S. auto dealers, reflecting improving confidence in the industry despite lingering challenges in the current market.The market outlook index rose to 54, a substantial leap from 42 in Q3, marking the largest quarterly surge in CADSI history. Dealers credit political clarity and potential economic measures like tax rebates for the boost.Franchised dealers are more optimistic (index 50) compared to independent used-only dealers (index 39).The top concerns for dealers in Q4 2024 are economic conditions (56%), high interest rates (52%), weak market conditions (37%), the political climate (35%), and rising expenses (33%).“The recent resolution of political uncertainty...has cleared the path for a more optimistic outlook on future auto market conditions,” said Jonathan Smoke, chief economist at Cox Automotive.Google has unveiled Willow, its latest quantum computing chip, claiming a monumental breakthrough in error correction and computation speed. However, experts remain cautious, pointing out that quantum computing still lacks practical, real-world applications.Willow can solve a problem in 5 minutes that would take today's supercomputers 10 septillion years—far beyond the universe's age.Willow reduces errors exponentially as qubits (units of information in quantum computing, capable of existing as 0, 1, or a superposition of both simultaneously) scale, cracking a 30-year challenge in quantum error correction.Experts agree it's an exciting milestone but emphasize the need for a “ChatGPT moment” to unlockHosts: Paul J Daly and Kyle MountsierGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email

Welcome to the Car Dealership Guy Podcast! In this episode, I'm joined by Jonathan Smoke, Chief Economist at Cox Automotive. We dive into some of the biggest topics shaping the 2024 car market, including shocks and surprises, the painful new phase for the used car market, why new car discounts have plateaued, and the evolving segments of the U.S. car market—and much more. This episode is brought to you by: Car Dealership Guy News - The #1 source for concise and unbiased car industry news. Stay informed with the most relevant and interesting stories by visiting https://news.dealershipguy.com/ CDG Recruiting - a more hands-on, white-glove automotive recruiting service with decades of experience successfully placing over 1,000 roles in the automotive industry. Try CDG Recruiting today by visiting https://www.cdgrecruiting.com/ Interested in advertising with Car Dealership Guy? Drop us a line here Interested in being considered as a guest on the podcast? Add your name here Topics: (00:00:00) - Intro (00:01:46) - Jonathan's background and career (00:03:24) - What's happened in the market in the last 18 months? (00:07:32) - What would be the best way for dealers to optimize in this environment? (00:13:22) - Where are prices headed? (00:18:01) - How many new cars are on track to be sold? (00:25:33) - Where is dealership profitability trending? (00:32:16) - How are auto loans affecting things? (00:37:21) - Are used EVs or new EV leases still the best deal on the market? (00:39:28) - Thoughts on Stellantis (00:44:54) - Will the election have any impact on the industry? (00:48:40) - What would you ask Elon if you could? Check out Car Dealership Guy's stuff: CDG News ➤ https://news.dealershipguy.com/ CDG Jobs ➤ https://jobs.dealershipguy.com/ CDG Recruiting ➤ https://www.cdgrecruiting.com/ My Socials: X ➤ https://www.twitter.com/GuyDealership Instagram ➤ https://www.instagram.com/cardealershipguy/ TikTok ➤ https://www.tiktok.com/@guydealership LinkedIn ➤ https://www.linkedin.com/company/cardealershipguy/ Threads ➤ https://www.threads.net/@cardealershipguy Facebook ➤ https://www.facebook.com/profile.php?id=100077402857683 Everything else ➤ dealershipguy.com This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Shoot us a Text.We're almost through the week, and we've got Steve Greenfield back with us today to help us understand why dealers are feeling a little pessimistic about Q3. Plus we'll discuss how Japan is investing heavily in EV battery production and have a little bit of nostalgia about a historic Mustang.Show Notes with links:Franchised dealers grew more pessimistic going into Q3, with a Cox Automotive poll revealing concerns about interest rates, the economy, and election uncertainty. The Dealer Sentiment Index fell below 50 for only the third time in its seven-year history, indicating negative expectations for the near future.Dealers rated their three-month outlook at 49, down from 52 the previous quarter, signaling waning confidence.Interest rates (67%), the economy (53%), and political uncertainty (49%) were the top concerns affecting franchised dealers.Jonathan Smoke said that with the exception of interest rates, today's economy suggests that the SAAR should be 17 million given demand. However, it currently sits at 15.4MProfitability also dipped, with dealers reporting a score of 43, well below pre-pandemic levels."To say that profits are today worse than they were before, I think, is thinking beyond new-vehicle gross margins and thinking about the other expenses that dealers have that are still being impacted by inflation and higher costs and higher interest rates, which make it very expensive to hold inventory," Smoke saidJapan is investing heavily to secure its electric vehicle battery supply chain, offering up to 350 billion yen ($2.4 B) in subsidies. The funding will boost production for companies like Toyota, Nissan, Mazda, Subaru and Panasonic, aiming to increase the nation's storage battery capacity by 50%.The combined investment from the four automakers, along with Japanese government subsidies, totals over ¥944.6 billion ($6.58 billion)The goal is to increase Japan's battery production capacity from 80 GWh to 120 GWh annually.Toyota is leading Japan's EV battery push by developing next-gen solid-state and performance lithium-ion batteries, with plans to start production by 2026, Subaru and Mazda will partner with Panasonic for cylindrical lithium-ion battery production, while Nissan plans to produce lithium-iron-phosphate batteries for mini-EVs by 2028."We hope these efforts will strengthen Japan's battery industry," said Ken Saito, Minister of Economy, Trade, and Industry.Bill Ford and Jay Leno took a trip down memory lane in a classic piece of automotive history—the original pace car from the 1964 Indianapolis 500. Featured on Leno's YouTube show, the two discussed the significance of the car and its connections to the Ford family.The car was built in the first hour of Mustang production, and Bill Ford recently became its fourth owner after a friend spotted it at a showBill's uncle, Benson Ford Sr., drove the pace cHosts: Paul J Daly and Kyle MountsierGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email

Jonathan Smoke from Cox Automotive and Mike Brisson of Moody's join the crew for a discussion of inflation and autos. The team dissects this week's CPI report, which while not great, at least wasn't worse than expected. Mark argues that the Fed should be looking through the inflation data that's mixed up with the problematic measures of housing inflation and start lowering rates immediately. The team is mostly on board with this view although Mike convincingly argues that it may be better for the Fed to be “credibly wrong” than incredibly right.  Guests: Jonathan Smoke – Chief Economist, Cox Automotive, Michael Brisson – Director, Moody's AnalyticsHosts: Mark Zandi – Chief Economist, Moody's Analytics, Cris deRitis – Deputy Chief Economist, Moody's Analytics, and Marisa DiNatale – Senior Director - Head of Global Forecasting, Moody's AnalyticsFollow Mark Zandi on 'X' @MarkZandi, Cris deRitis on LinkedIn, and Marisa DiNatale on LinkedIn for additional insight. For more on Jonthan Smoke Click here Related Research: The article referenced in today's episode Lags and measurement issues with OER is available on Economic View: Real Time. The Economic View-Real Time information service is the single web-based source that covers the global economy and financial markets around the clock. The service provides real-time analysis of key economic and financial market developments along with analysis of more than 250 economic releases. Economic View enables users to easily access data, analysis of economic events, trends and risks. Read Full Analysis With A Free 14-Day Trial.   

We're firing up the new year talking about the last 2 weeks of activity, grading predictions, Chinese EV Conversations, and the Cybertruck's first accident. Steve Greenfield 2023 predictions: Reynolds & Reynolds Acquired. - Fail 2. Tekion Acquired by Salesforce.com. - Fail 3. Carvana Acquired by Amazon. - Fail 4. AutoTech Valuations Reset. - Pass 5. Dealership Valuations Drop. - Meh 6. Dealers Focus on Cost Reduction. - Meh 7. Artificial Intelligence (AI) Goes Mainstream. - Pass 8. Next Wave of AutoTech: Process Automation. - Meh 9. Consolidation of Mobility Companies. - Meh 10. Private Equity (PE) Acquires Public Companies. - Meh 11. 2023 - The Year of the EV. - PassOverall Score: BAs we have entered the new year we're seeing predictions emerge from all of the savviest corners of the Retail Auto Industry from Steve Greenfield, to Jonathan Smoke and beyond. One of the topics that keeps popping up is the question of whether or not this is the year Chinese vehicles, specifically EVs, will disrupt the marketProgress, environmental concerns, and national security are all discussion points as Western nations face a complex dilemma in balancing domestic EV supply chain protection with global competitivenessChina continues to bolster its domestic EV market with significant subsidies, potentially widening the technology gap with Western manufacturers.Recent changes to U.S. EV tax credit rules, including the exclusion of Chinese battery components, challenge the eligibility of popular models like Tesla's Model 3 and Ford's Mustang Mach-E, limiting Chinese influence over the battery supply chainFrance and the EU are following suit, with France restricting subsidies for Chinese-made EVs and the EU considering tariff increases, highlighting a broader Western skepticism towards Chinese EVs.The Biden is also considering increasing tariffs on Chinese EV's which is already at 27.5%In the first reported accident involving a Tesla Cybertruck and a Toyota Corolla, only minor injuries were recorded, providing a first look into the highly scrutinized vehicle's safety and design in real-world scenarios.A 2023 Tesla Cybertruck, involved in an accident with a 2009 Toyota Corolla in Palo Alto, California, resulted in minor injury to the Cybertruck driver, who declined medical attention.The accident, confirmed by the California Highway Patrol, occurred when the Corolla crossed into the Cybertruck's lane, highlighting the robustness of the Cybertruck's design. The weather was cloudy and wetDespite significant damage to the Corolla, the Cybertruck showed less damage, with side-curtain airbags deployed, indicating effective safety features.This incident, not involving autonomous driving, adds to the ongoing scrutiny of Tesla's vehicle design and safety in collision situations.Hosts: Paul J Daly and Kyle MountsierGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email ASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

We know you're making the most out of the final few days of the year! Today we're sharing an Economic Outlook panel from Year End Extravaganza featuring Jonathan Smoke, Dr. Alex Yurchenko, and David Spisak.Show Notes with links:For a look back on 2023 and insights into 2024, watch the 3rd Annual ASOTU Year End Extravaganza on YouTube at asotu.beHosts: Paul J Daly and Kyle MountsierGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email ASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

Inventory is up, but so are interest rates. Consumers were happy over the summer...but will that joy continue? On the heels of the release of Cox Automotive's Q3 Dealer Sentiment Index (more dealers view the market as weak) yet also strong quarterly sales over the summer, we sit down with Cox chief economist Jonathan Smoke for a look at what's in store for dealers in Virginia and nationwide.  Links to stuff we talk about: Cox's Q3 sales insights Cox's Q3 Dealer Sentiment Index and Q3 Sales/Insights call DJ Smoke's fall playlist on Spotify

This episode is brought to you by: ⁠KEYper Systems⁠ - Key Management Simplified. Interested in advertising with CarDealershipGuy? Drop us a line here Interested in being considered as a guest on the podcast? Add your name here Today, I'm speaking with Jonathan Smoke, Chief Economist at Cox Automotive. 00:00 - Intro 02:00 - DJ Smokey Smoke returns 05:55 - The general state of the market 15:25 - Interest rates and how they affect the industry 18:03 - Supply & demand, inventory issues, price improvements 26:55 - Winners & losers in the EV space 34:00 - Used car market update 38:30 - Will UAW strike? 48:00 - Best deals for consumers right now 52:25 - The state of auto lending 1:03:10 - Wrapping up Follow Jonathan: @SmokeonCars on X. Jonathan's LinkedIn. Smoke on Cars insights at Cox Automotive. Check out ⁠⁠⁠⁠⁠the website⁠⁠⁠⁠⁠ for more and follow me on X ⁠⁠⁠@GuyDealership⁠⁠⁠! This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

The looming UAW strike is top of mind, and no one better to talk to about how it may play out and what it means for the economy than Jonathan Smoke of COX Automotive and our own vehicle industry expert, Mike Brisson.  Bernard Yaros also joins the podcast to talk about the consumer inflation report.  Mark and Cris agree that while the current economic numbers look good, there's plenty to worry about.For more from Jonathan Smoke, click hereFollow Mark Zandi @MarkZandi, Cris deRitis @MiddleWayEcon, and Marisa DiNatale on LinkedIn for additional insight.

June 27, 2023 | Lordstown Motors files for bankruptcy; Cox Automotive's Jonathan Smoke by Automotive News

In this episode, I'm speaking with Jonathan Smoke, Chief Economist at Cox Automotive. (00:00) Intro (00:51) Our unique market environment (04:12) Jonathan's background (08:45) The Great Digitization (11:46) That time CDG bought 50 Chevys at auction (13:40) Are we in a K-shaped recovery? (18:45) Domestic vs International supply constraints (26:00) When do we get back to 2019 price levels? (33:45) Forecasting new vs used car prices (38:19) Advising a new car buyer (41:42) Jonathan's take on EVs (47:38) DJ Smoke's recommended listening You can find Jonathan here: Twitter @SmokeonCars Smoke on Cars insights at Cox Automotive This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Check out dealershipguy.com for more and follow me on Twitter @GuyDealership! Interested in advertising with CarDealershipGuy? Join the sponsor waitlist here.

Welcome to another great week in Retail Auto, folks. Today we're getting started by talking about  a hard fought milestone for at least three of the big publics. We're also reviewing a conversation with COX Chief Economist, Jonathan Smoke, as well as giving props to some of the best guerilla marketing we've seen in a while. For the first time in over two years, at least three of the major public vehicle retailers reported a 30 plus day supply in new car inventory. Asbury hit 30 days, up from 10 a year earlier, 26 in Q4Sonic hit 31 days, up from 15 a year earlier, and 24 in Q4Lithia hit 52 days, up from 27 a year earlier and, 47 in Q4There is still a lot of disparity between manufacturersThomas King, president of J.D. Power data and analytics, said in a statement Thursday "As we look to May, the asymmetrical market positions of each manufacturer could become more apparent. Brands with higher inventory levels may participate in the tradition of Memorial Day promotions and discounts to generate sales, while other brands that are still struggling with production will have to decide whether or not to compete on price."Our friend Jonathan Smoke, Chief Economist at COX, broke down Q1 trends regarding the movement in new and used car sales as the markets begin to moderate and some new car buyers who were forced into the used market are beginning to move back. Smoke said “The retail vehicle market is showing clear changes in momentum in March,” as new vehicle sales were up 9% YoY and used declined 6%Smoke specifically noted that there are more, lower cost new car options on the market that weren't there a year ago. Regarding the used market, Smoke says, “The traditional used-car market buyers are left, and they are the most challenged in terms of credit conditions and affordability.”He also noted that used supply is still down and wholesale prices will continue to be highIn one of the best guerilla marketing tactics we've seen in a while, both Big Lots and The Container Store, will be accepting all of those 20% off coupons floating around from the now bankrupt Bed Bath and Beyond. Late last week Big Lots said they would apply any of those coupons to purchases over $50 through May 7th. “Our mission is to help people live big and save lots, which means we're always thinking of ways to step up and deliver even more value to consumers,” Bruce Thorn, president & CEO of Big Lots, said in a statement.The Container Store is getting even more aggressive accepting the coupons through May 31stAlthough both stores aren't an exact match to Bed Bath and Beyond's product mix, there is more than enough overlap to woo some new customers through their doorsGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email ASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

Jonathan Smoke, chief economist of Cox Automotive and colleague Mike Brisson join Mark and Cris to discuss what's going on in the vehicle market. After a rundown on this week's inflation stats we discuss prospects for vehicle prices, sales, production, and the implications of tighter underwriting and weaker credit quality in the auto loan market. We also take up the tough new emission standards and what they mean for EV adoption.For more on Jonathan Smoke,  click here.Follow Mark Zandi @MarkZandi, Cris deRitis @MiddleWayEcon, and Marisa DiNatale on LinkedIn for additional insight.

What can auto lenders and dealers expect this year? Join us as Jonathan Smoke, chief economist for Cox Automotive, discusses the current slump in used retail vehicle sales and auto loan performance, his predictions for this year's vehicle sales, as well as the industry's bright spot, EVs. But first, we start this episode with a 3-minute economic update from David Fieldhouse, director of Consumer Credit Analytics at Moody's Analytics. Highlights: :30 – Economic update from David Fieldhouse, director of Consumer Credit Analytics at Moody's Analytics3:35 – Jonathan Smoke reveals what the auto market has in common with Michael Jackson's hit Beat It from the 1980's6:17 – Why this year's outlook is “not bullish”10:18 – U.S. supply chain and production is performing better than other regions in the world12:10 – Biggest challenge for lenders and dealers this year14:41 – How affordability is affecting the auto market19:10 - Implications for subprime consumers23:40 - Will the emphasis on online shopping continue?27:15 - The EV market is the positive part of the market32:30 - What is the industry missing or not thinking about that they should?  Resources: Learn more about Cox Automotive and check out Jonathan Smoke's column, Smoke on Cars Register for Market Pulse webinars to get relevant economic and credit insights to help your business make more confident decisions Learn more about our Market Pulse podcast, and contact us at marketpulsepodcast@equifax.com

January 30, 2023 | Cox Chief Economist Jonathan Smoke; Nissan, Renault's plan to rebalance alliance by Automotive News

We're on the final approach for 2022 and talking about how the auto industry has helped communities weather the recent (literal) storms. We also review Cox's top 10 prediction list for 2023Let's talk about Buffalo NY for a moment. In case you missed it, it's been cold outside. Like, really, really cold. A 27-hour power outage at the Vive Shelter in Buffalo, NY, was resolved by our friends at West Herr Auto Group and a payloader they found. They used the sizable tractor-type machine and succeeded where pickups and other 4-wheel drives failed. They dragged generators and fuel for 4 hours through 15 miles of blizzard to get power back to the shelter.By Monday, main power was restored for the shelter's 150 residents and additional families who found refuge in the building during the worst of the storm.A Ford F-150 Lightning electric pickup truck owner was able to power his home in Ontario, Canada for 44 hours during a winter storm that left thousands without electricity…and still had 65% of battery left overRapsFanLJ posted a picture of his EV pickup on Reddit, saying, “this baby saved us.” as he used the Pro Power Onboard system to power lights, a refrigerator, wifi, TV, and other items for almost 2 days until power was restoredThe truck has 11 outlets and one 240v port in the backKumar Galhotra, president of Ford Blue, explains: We're not here to make an electric truck for the few – Ford is committed to building one that solves real problems for real people.provides full-home power for up to three days or as long as ten days,” depending on energy usage.COX Automotives Top 10 predictions for 2023 are out1. A slow-growing economy will place pressure on the automotive market.2. New-vehicle inventory levels will continue to increase.3. Total retail vehicle sales will fall in 2023 as new-vehicle sales grow and used sales decline.4. Sales of electric vehicles in the U.S. will surpass 1 million units for the first time.5. Used-vehicle values will see above-normal depreciation for a second straight year.6. Vehicle affordability will be the greatest challenge facing vehicle buyers.7. All-cash deals will increase to levels not seen in decades.8. Dealership service operations volume and revenue climb.9. Half of vehicle buyers will engage with digital retailing tools.10. Federal incentives will encourage more fleet buyers to consider electrified solutions.Jonathan Smoke gave his team a B-minus for their predictions from the previous year. One missed predGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email Share your positive dealer stories: https://www.asotu.com/positivity ASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

October 20, 2022 | Musk says Tesla has no demand problem; Cox Automotive's Jonathan Smoke by Automotive News

It's Friday and we're wrapping up this week's news talking about an unanticipated challenge with waterlogged EVs. We're also talking about why Amazon is pulling the plug on its autonomous delivery robot program, as well as what we should be looking for in today's jobs report. Waterlogged EVs are beginning to ‘explode' according to Florida's Chief Fire Marshal"There's a ton of EVs disabled from Ian. As those batteries corrode, fires start," Patronis tweeted Thursday. "That's a new challenge that our firefighters haven't faced before. At least on this kind of scale."Crews are using hundreds of gallons of water attempting to put these fires outAt NAMAD, Mark Bland of S&P Global mentioned that only 50% of fire stations nationwide are equipped with the training and resources to fight these EV firesAmazon has pulled the plug on its ‘Scout' autonomous delivery robot program after three years citing the program was not meeting customer expectationsCooler sized robots on 6 wheels would carry packages directly to consumers homes and open its side hatch to allow the packages to be receivedThe program was about 3 years old and began autonomous deliveries in sidewalks communities in Seattle before expanding the program to Southern CaliforniaAbout 400 amazon employees were assigned to the project and will be offered jobs in other areas of the companyThis is a sign that CEO Andy Jassey is reprioritizing funds as sales growth begins to slow from record levelsGood news could be bad news when it comes to the job report releasing todayDuring his talk at NAMAD, Jonathan Smoke, Chief Economist at Cox Automotive, mentioned that historically low unemployment reports would continue to push the fed to raise interest rates at their aggressive pace.Economists surveyed by Dow Jones expect the report, due out Friday at 8:30 a.m. ET, will show that payrolls increased 275,000 in September, while the unemployment rate held at 3.7%. At least as important, estimates are for average hourly earnings to increase 0.3% month over month and 5.1% from a year ago.One major concern is that both job growth and wage growth are outpacing inflation, leading to supply side recession. The hope is that if jobless claims rise, less aggressive spending would hit the market.“I don't think the Fed is going to pivot or pause or anything of that nature before the end of the year, certainly not because of jobs data,” said Shannon Saccocia, Chief Investment Officer at SVB Private Bank.Get the Daily Push Back email at https://www.asotu.com/JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/Read our most recent email at: https://www.asotu.com/media/push-back-emailASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

AUTO BUSINESS PROFESSIONALS SEEKING BETTER FORECASTING DATA TO HELP NAVIGATE TOUGH DECISIONS THROUGH THE REST OF 2022 WILL FIND SOUND ADVICE IN THIS PANEL DISCUSSION WITH JONATHAN SMOKE, ALEX YURCHENKO, AND JOHN COLES. This is Tuesday Nights Live on ATI.

Welcome to Wednesday as we cover the potential developments around the Fed's meeting on interest rates, the 2023 NADA Show opening up tickets and all the fanfare, as well as Instagram CEO's response to millions of disgruntled users. Many are calling today “Fed Day” in anticipation of interest rate conversationsThe Fed is expected to raise interest rates 75 basis points todayFollowing positive 2nd quarter earnings calls, there is more optimism in the market, despite continued high inflationSome economists are warning that the fed is having to rely on lagging indicators in the economy to make interest rate decisions, causing potential un-due change on turning markets.Though inflation is high, the job market remained strong in June and looks to be on pace for the same in July, though reports will not surface until next week.Take Away: Allow us to introduce you to Jonathan Smoke. Keeping a level head and remaining cautiously optimistic in automotive right now is key.NADA Show opens ticketing, room blocks, and announces key speakersYou won't want to miss this fun and festive welcome reception, featuring trick ropers, line dancing, a honky-tonk band, mariachi music, flamenco dancing, mechanical bulls, armadillo races, western blackjack and so much more.Prices go up Sept. 16th and we hear hotel rooms are going fast!The push for industry partner tech updates is squeezed into 9 months this yearWith education (incl. Our very own Paul J Daly) pushed out 6 months, where do you perceive the conversation will be centered around?Take Away: The industry vibing together is a necessary part of our success. Have we told you about ASOTU CON!?Instagram changes spark backlash from its largest users and many moreThe platform has changed its primary feed to feature reels and feel much more like TikTokThe Kardashians who have over 685M followers posted comments and a change.org petition started by another user to ‘Save Instagram' specifically asking the platform to: BRING BACK CHRONOLOGICAL TIMELINES!, STOP TRYING TO BE TIKTOK!, AN ALGORITHM THAT FAVORS PHOTOS!, AN ALGORITHM THAT FAVORS PHOTOS! This prompted a public response from Insta CEO Adam Mosseri: “We're experimenting with a number of different changes to the app, and so we're hearing a lot of concerns from all of you…I want to be clear, it's not yet good. And we're going to have to get it to a good place if we're going to ship it to the rest of the Instagram community…“I want to be clear: We're going to continue to support photos. It's part of our heritage, That said, I need to be honest: I do believe that more and more of Instagram is going to become video over time. We see this even if we change nothing. We see this even if you just look at chronological feed.”Take Away: Someone always gets displaced during change and innovationGet the Daily Push Back email at https://www.asotu.com/Rock with us LIVE at ASOTU CON! Tickets: https://www.asotucon.comJOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/Read our most recent email at: https://www.asotu.com/media/push-back-emailShare your positive dealer stories: https://www.asotu.com/positivityASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

As the Virginia Auto Dealers Association annual meeting kicks off in Asheville, NC, we're talking about who Dealers are focusing on in their efforts to move forward. We also cover continually rising new car pricing, as well as how to get creative with the business you already have. New vehicle prices keep going up, buyers keep showing upAvg new car cost (55,821) is approaching the average income in the USCOX Automotive Chief Economist, Jonathan Smoke reports that it has never been higher, but isn't hearing Dealers talk about affordability issues at allPaul Walser former NADA Chair and  to Mike Manley of Auto Nation say people are begging for new carsOne of the few remaining relief levers is financing termsSmoke says the days of a sub 30k new car are goneTake Away: Managing the balance between new and used businesses to serve all of your customers is vital. Remember when new cars were reported as a loss on your P&L?Beer Halls get inventive with morning joeOwners Sarah and Clay Davies say they had always planned on using coffee as an ingredient in Biggerstaff's beer and some marinades for smoked and braised meats. They also realized they could cater to customers who might come in at 8 a.m. in no mood for an IPA. “If you're paying rent, why not have something in-house that makes money during the day, not just at night like most brewpubs?” Ms. Davies says.Owners are dealing with rising costs for the products they purchase and the workers they employ. As a result, many have chosen to go outside their original expertise hoping for more business. Owners are finding similar communities in beer and coffee drinking.Take Away: How can you find revenue sources within your current retail space that both curate and craft community?Get the Daily Push Back email at https://www.asotu.com/Listen to other episodes: https://www.asotu.com/media/podcastsRead our most recent email at: https://www.asotu.com/media/push-back-emailShare your positive dealer stories: https://www.asotu.com/positivity----Rock w/ us on social:Insta: https://www.instagram.com/automotivestateoftheunion/ Twitter: https://twitter.com/asotu_ Tik Tok: https://www.tiktok.com/@ASOTU FB: https://www.facebook.com/automotivestateoftheunion Pinterest: https://www.pinterest.com/automotivestateoftheunion/_created/ 

For the second year in a row, Cherokee Media Group's Nick Zulovich tracked down Cox Automotive chief economist Jonathan Smoke after appearing at the Non-Prime Auto Financing Conference hosted by the National Automotive Finance Association. The conversation covered auto financing, used-vehicle prices, inflation and, of course, some musical references, too.

Mark and Cris welcome Jonathan Smoke, Chief Economist of Cox Automotive and colleague Mike Brisson, Senior Economist at Moody's Analytics, to discuss the outlook in the vehicle market. For more from Jonathan Smoke, follow him on Twitter @SmokeonCarsFollow Mark Zandi @MarkZandi, Ryan Sweet @RealTime_Econ and Cris deRitis on LinkedIn for additional insight. 

Welcome to the first week of what we are dubbing “events season.” Ok, maybe someone else called it that first. However, we can't wait to see you soon at one or multiple of them. We also are doing some R&D on a new show and would love your help to curate the name of it. Launching into Monday like djsmokeysmoke (Jonathan Smoke) on a Spotify playlist!Events Season is Fired upAuto Intel SummitDigital DealerVeeConDMSCKain Clients and FriendsDealers Partner With College AthletesThe National College Athletic Association decided in June 2021 to allow college athletes to profit from their name, image, and likeness. Multiple dealerships have since partnered with college athletes, exchanging advertising for vehicles or pay. The future of retail last mileGet the ASOTU Daily Push Back email at https://www.asotu.com/Listen to other episodes: https://www.asotu.com/media/podcastsRead the most recent Daily Push Back email at: https://www.asotu.com/media/push-back-emailShare positive dealer stories: https://www.asotu.com/positivity------------------------------------------------------------------ For all Things ASOTU Check out our Socials Website: https://www.asotu.com/ Instagram: https://www.instagram.com/automotivestateoftheunion/ Twitter: https://twitter.com/asotu_ Tik Tok: https://www.tiktok.com/@ASOTU FaceBook: https://www.facebook.com/automotivestateoftheunion Pinterest: https://www.pinterest.com/automotivestateoftheunion/_created/ Linkedin: https://www.linkedin.com/company/asotu/ ------------------------------------------------------------------

WHEN YOU'RE ABLE TO SPEND TIME WITH INTERESTING PEOPLE LIKE JONATHAN SMOKE (CHIEF ECONOMIST, COX AUTOMOTIVE), DON BRADY (VP, DEALER SUCCESS, SHIP YOUR CAR NOW), AND ARIA TACTAQUIN (AVP, RCG LOGISTICS), YOU KNOW YOU'RE NETWORKING AT AN AMAZING TRADE SHOW.

"YESTERDAY WAS THE BEST DAY TO SELL YOUR CAR." You know when Jonathan Smoke (Cox Automotive), Alex Yurchenko (Black Book), & John Coles (ACV Auctions) get together for a live discussion, you're going to want to listen. This is Tuesday Nights Live on ATI.

Cox Automotive chief economist Jonathan Smoke is back on the show to help us make sense of the mixed signals that wholesale vehicle prices have shown at the start of 2022. Plus, we talk about the growth in what Cox Automotive has dubbed "New Form Online Retailers" and all things used cars.

A few moments after his keynote presentation at the 25th Non-Prime Auto Financing Conference hosted by the National Automotive Finance Association, Cox Automotive chief economist Jonathan Smoke sat down with senior editor Nick Zulovich for a wide-ranging conversation. Smoke recapped the highlights of his presentation, including a popular song from the 1980s to summarize what's happening in the finance, retail and wholesale markets.

Segment 1: Ted Rossman, Bankrate.com Senior industry analyst, joins guest host Ilyce Glink to talk about a new survey that shows how remote work had a positive effect on many people’s finances. Segment 2: Jonathan Smoke, Chief Economist, Cox Automotive, joins Ilyce to talk about the supply chain issues that have impacted the automotive industry, what is […]

Jonathan Smoke, Chief Economist at Cox Automotive, joins Joel to talk about the current state of the auto market, including how some data suggest the recovery might not be as 'K-shaped' as previously thought, how an uptick in defaults in 2021 doesn't necessarily spell disaster, and what consumer metrics may indicate a bullish future. Check out Cox Automotive's regularly updated reports here.ConsumerFi is presented by Nortridge Software: Loan Software That Accelerates Change.And special thanks to The National Automotive Finance Association: The only trade association exclusively serving the nonprime auto finance industry.

A prior economist at Realtor.com and currently serving as the Chief Economist at Cox Automotive, Jonathan Smoke shares some valuable macro trends that we can follow as a result of the booming housing market. Tune in to hear about the democratization of car ownership versus home ownership, credit worthiness, interest rates and inflation, and the latest index developed by Jonathan’s team, the Vehicle Affordability Index. About Jonathan Smoke leads Cox Automotive’s economic industry insights office. This office is tasked with leveraging data to expand Cox Automotive’s deep expertise in all aspects of the automotive industry. His focus is to connect the data from all of the company’s businesses and platforms and relate to economic, industry and demographic trends. Prior to joining Cox Automotive, Smoke served as Realtor.com’s chief economist. Before that, he was the chief economist for Hanley Wood, a media and market intelligence company, and also served in a variety of roles at Beazer Homes, including senior vice president of strategy and innovation. Smoke was named one of “the 21 most interesting people in real estate” by Inman News and was the only economist to make the list in 2016. He is quoted in national news outlets and has published more than 150 original articles. Smoke blogs regularly and tweets using Twitter handle @SmokeonCars to share his industry insights. Smoke holds a bachelor’s degree in economics and religious studies from Rhodes College and a master’s degree in business from The University of Texas at Austin. Related Episodes Cash is King, or Cash for Clunkers The ETF Horserace John Kett of IAA, Inc. Home Is Where You Park It (Vanlife Mini Series) Notes | Resources Jonathan Smoke | Twitter | Spotify Cox Automotive | Vehicle Affordability Index Intro song | Casey Parnell | Web ***** Wisco Weekly ***** Founder and Host, Dennis Wisco, takes his Business Class listeners through the culture and society of automotive business. Subscribe and follow the money to know where you can #maketheinvestment. ✌(-‿-)✌

A prior economist at Realtor.com and currently serving as the Chief Economist at Cox Automotive, Jonathan Smoke shares some valuable macro trends that we can follow as a result of the booming housing market. Tune in to hear about the democratization of car ownership versus home ownership, credit worthiness, interest rates and inflation, and the latest index developed by Jonathan’s team, the Vehicle Affordability Index. About Jonathan Smoke leads Cox Automotive’s economic industry insights office. This office is tasked with leveraging data to expand Cox Automotive’s deep expertise in all aspects of the automotive industry. His focus is to connect the data from all of the company’s businesses and platforms and relate to economic, industry and demographic trends. Prior to joining Cox Automotive, Smoke served as Realtor.com’s chief economist. Before that, he was the chief economist for Hanley Wood, a media and market intelligence company, and also served in a variety of roles at Beazer Homes, including senior vice president of strategy and innovation. Smoke was named one of “the 21 most interesting people in real estate” by Inman News and was the only economist to make the list in 2016. He is quoted in national news outlets and has published more than 150 original articles. Smoke blogs regularly and tweets using Twitter handle @SmokeonCars to share his industry insights. Smoke holds a bachelor’s degree in economics and religious studies from Rhodes College and a master’s degree in business from The University of Texas at Austin. Related Episodes Cash is King, or Cash for Clunkers The ETF Horserace John Kett of IAA, Inc. Home Is Where You Park It (Vanlife Mini Series) Notes | Resources Jonathan Smoke | Twitter | Spotify Cox Automotive | Vehicle Affordability Index Intro song | Casey Parnell | Web ***** Wisco Weekly ***** Founder and Host, Dennis Wisco, takes his Business Class listeners through the culture and society of automotive business. Subscribe and follow the money to know where you can #maketheinvestment. ✌(-‿-)✌

After a rapid industry recovery, “the next 3-6 months could see some reversing trends as COVID-19 cases grow and threaten the industry.”Our interview with Jonathan Smoke, Chief Economist for Cox Automotive, contains amazing insights on factors that led to record setting sales in May and June, along with reasons to be cautious as the industry’s recent gains are likely to recede in the coming months.Episode Highlights:What are “the 4 C’s” that led to unprecedented gains in May and June?How should dealerships act now that the 4 C’s (and the car market) are declining again?This presidential election may be the most volatile in our lifetimes. How will it affect the auto industry?--------------Episode Sponsor:DCG Capital - DCG Capital’s lender relationships can provide new car dealers with working capital loans, floor plan financing, mortgage loans, and other reduced interest rate financing at historically low rates. Contact DCG Capital Today.

On today’s show, we’re pleased to welcome back Jonathan Smoke, Chief Economist for Cox Automotive. In this segment, Jim and Jonathan discuss the Cox Automotive Mid-Year Review, the current view of new and used retail sales, and the road to recovery for retail automotive. Click here, to register for the Mid-Year Review presentation today. https://www.cbtnews.com/cox-automotive-chief-economist-jonathan-smoke-reviews-industry-recovery-efforts/

As part of our ongoing coverage of the Coronavirus, we’re pleased to welcome three of Cox Automotive’s top industry economists and analysts including Jonathan Smoke, Charlie Chesbrough, and Zo Rahim. In this segment, the panel discusses how things have progressed over the past month, what consumer sentiment looks like right now, and the current view of new and used retail sales. Stay tuned for more COVID-19 coverage right here on the CBT Automotive Network. https://www.cbtnews.com/are-auto-sales-on-the-road-to-recovery-cox-automotives-industry-analysts-weigh-in/

Originally posted on CBTNews.com: https://www.cbtnews.com/cox-automotive-chief-economist-jonathan-smoke-discusses-vehicle-affordability-evs-and-much-more/ Year-end sales data has been released for the auto retail industry, and there is a lot to break down. If you want to find out what 2019’s trends could indicate about the headwinds and tailwinds for the rest of this year, then you’ll want to tune in to what our next guest has to say. Here to talk in-depth about what dealers can expect from industry trends and developments moving forward in 2020 is Jonathan Smoke, chief economist for Cox Automotive. -------------- CBT Automotive Network is a multi-media platform for retail automotive professionals. With digital channels including a daily show, informative website, daily eNewsletters, monthly magazine, webinars and 9 network shows hosted by the industry's top trainers and thought leaders. CBT is your dealership's "go to" source from the showroom to the service drive. https://www.cbtnews.com/ CONNECT WITH US! Contact us: info@cbtnews.com Subscribe: https://www.cbtnews.com/freesubscription Facebook: https://www.facebook.com/CarBizTodayNews Twitter: @CarBizToday Instagram: https://www.instagram.com/carbiztoday/

In the fourth of six panel discussions recorded at Used Car Week 2018, Joe Overby moderates a panel discussion with some of the leading economists in the used-car industry: Jonathan Smoke of Cox Automotive, Tom Kontos of KAR Auction Services and Tony Hughes of Moody's Analytics.

Carol is joined by Erik Gordon, Professor at University of Michigan, and Nabila Ahmed, Bloomberg News Media M&A Reporter, to discuss Comcast dropping its bid for Fox assets, leaving the door open for a Disney deal. Reg Gale, Bloomberg News Deputy Managing Editor of Commodities, breaks down commodities approaching correction territory, under pressure in the face of the resurgent dollar and lingering global trade tensions. Bloomberg Economics Latin America Economist Felipe Hernandez and Jonathan Smoke, Chief Economist for Cox Automotive, discuss the impact of U.S. tariffs on imported cars and auto parts. Karl Scheer CIO at the University of Cincinnati, and Janet Lorin, Bloomberg News Endowments Reporter, talk about preparing for possible inflation. And we Drive to the Close with Alan Lancz, Research Director at LanczGlobal.com. 

Carol is joined by Erik Gordon, Professor at University of Michigan, and Nabila Ahmed, Bloomberg News Media M&A Reporter, to discuss Comcast dropping its bid for Fox assets, leaving the door open for a Disney deal. Reg Gale, Bloomberg News Deputy Managing Editor of Commodities, breaks down commodities approaching correction territory, under pressure in the face of the resurgent dollar and lingering global trade tensions. Bloomberg Economics Latin America Economist Felipe Hernandez and Jonathan Smoke, Chief Economist for Cox Automotive, discuss the impact of U.S. tariffs on imported cars and auto parts. Karl Scheer CIO at the University of Cincinnati, and Janet Lorin, Bloomberg News Endowments Reporter, talk about preparing for possible inflation. And we Drive to the Close with Alan Lancz, Research Director at LanczGlobal.com.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Jonathan Smoke, chief economist of Cox Automotive, talks to Senior Editor Bill Koenig about what's happening in the auto industry going into 2018. Smoke describes an industry that is still running strong but faces more "headwinds" than in the past few years. The interview took place at the North American International Auto Show in Detroit.

We're back in Atlanta to talk with Cox Automotive chief economist Jonathan about everything used cars. Plus, Jonathan explains why the auto industry is like the song "Feel It Still" by Portugal. The Man.

.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; height: auto; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; } Today, I’ll cover three things that you need to know about our current real estate market: price appreciation, pending sales, and inventory.Buying a home? Click here to perform a full home searchSelling a home? Click here for a FREE Home Price EvaluationThere are three main things happening in our real estate market that I want to focus on today: price appreciation, pending home sales, and our inventory levels. However, I want to point out that in 2016, 15,616 houses sold every single day. That number is going up this year! Homes are selling at a faster clip than they have in years. Now, home prices are up across all price points. Lower priced homes appreciated by 10%, lower-to-middle priced homes appreciated by 8.3%, middle to moderately priced homes appreciated by 7.3%, and higher priced homes appreciated by 5.5%. Homes in higher price points won’t see as much appreciation as others because once you cross the $500,000 mark, there is more inventory and less demand. Pending home sales are the leading indicator of future performance. According to CoreLogic, last month’s index reading is 2.6% above last year’s. The number of pending sales is the highest it’s been since last April, and the second highest since May of 2006, when we were at the peak of the market. Inventory levels are frighteningly low. The most troubling factor in our current market is the low inventory. According to Jonathan Smoke, the chief economist at Realtor.com, the biggest challenge for buyers this spring will be finding homes. My team and I can vouch for that; there is no inventory out there. Our nine buyer’s agents have to go knocking on doors to see if anyone is interested in selling their house. Even as inventory drops, demand keeps getting stronger and stronger. Check out the video to see one of the scariest home inventory charts that I’ve seen in awhile. While those are the three main factors to pay attention to in our current market, I did want to quickly mention interest rates. Rates are creeping back up again and recently leveled off around 4.5%. It is yet to be determined how those rising rates will impact the market. If you have any questions about our current market or if you are even thinking of selling your home, give us a call or send us an email. My team and I would be happy to help you!

We’re creeping up on the second quarter of 2017, which means that interest rates are rising and many home sellers are about to enter the market. Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation Call me at 215-576-8666 for a FREE home buying or selling consultation Welcome to my latest market report! Today I’m coming to you live from Hawaii, so let’s jump right into the news. Right now, research shows that people are very confident in the economy, the job market, and what’s taking place in real estate. In fact, a recent Gallup poll states that Americans view the economy more positively since the election in November than they did in the previous nine years. Now I have a question for you: When do you think most listings come on the market? The answer is the second quarter of each year, which is coming up. This means if you’re thinking about selling your home but waiting until April, May, or June to put it on market—don’t! That’s when everyone else puts their homes on the market. We know that buyers are out there right now and we can get your house sold quickly. Let’s put it on the market now before the rest of the competition—including some new construction in many markets—hits the market too. “IF YOU’RE THINKING ABOUT SELLING YOUR HOME, DON’T WAIT UNTIL SPRING.” I’m not the only one saying this. Jonathan Smoke, the chief economist at realtor.com, stated in his latest article that “In most markets most years, the optimal time to list is in the spring so that the maximum number of potential buyers view the home. This year, the conventional wisdom of buying and selling may need to change. Inventory levels at the beginning of 2017 are at multi-year lows. Sellers now face very little competition.” If you’re a move-up buyer or just want to buy another home, pay very close attention to interest rates. The 30-year fixed rate skyrocketed at the end of 2016 and then came down a little bit, but now it looks like it’s bouncing around. I don’t think this will have a major impact on how many people will buy houses. Also, in a recent survey of loan officers that asked them how they thought rising rates will impact demand for purchase mortgages, 16.7% said it would have no impact because there is not enough supply to fulfill current demand. Another 16.7% said rising rates will weaken demand. I agree with that assertion. The vast majority of people moving on—they’re just going to have to pay more. If you’re a first-time buyer or a seller who’s thinking about buying, you have to take into consideration that if you wait until later in the year, you will have to spend more money. The Mortgage Bankers Association, Fannie Mae, and the NAR are all projecting that interest rates will continue to rise throughout the year. As you can see in the slide in the video above, if we average out the mortgage rate projections of the next three quarters, interest rates are going to be almost a half a point higher this time next year than they are right now. Why would anybody wait until the end of the year when they know they’ll pay more on an interest rate? Some people assume that because interest rates are going up, prices will decrease. That’s not what the experts think. In the past month, home prices have risen 1.1%, and it’s likely going to rise even further. As the CoreLogic Chief Economist Frank Nothaft said, “Very low mortgage rates sparked demand, and with inventories low, the result has been a pickup in home-price growth.” If you want to sell your home fast in 26 days, we have two Home Selling Shark Seminars coming up this month. The first is a breakfast seminar on March 25th from 8:30 a.m and 9:30 a.m. The second is an evening seminar on March 28th. They will both be held at the Hilton Garden Inn in Ft Washington, PA. To sign up, just go to www.HomeSharkSeminar.com. We are also having Homebuyer Workshop on March 23rd at 6 p.m. at the Abington Township Library. For more details on that, just visit www.CardanoBuyerWorkshop.com. If you have any questions about our market or are thinking about buying or selling a home, please don’t hesitate to reach out to me. In the meantime, be on the lookout for my next video where I’ll discuss different parts of the staging process in the home sale.

We’ve got two different market updates for you today. One is for the national market; the other is for the Corpus Christi market.Selling your Corpus Christi home? Get a free home value reportBuying a Corpus Christi home? Search all homes for sale We’ve got an update for you today about both the local and national real estate market. Jonathan Smoke, Chief Economist at Realtor.com, says: "Overall, the fundamental trends we have been seeing all year remain solidly in place as we enter the traditionally slower sales season, and pent-up demand remains substantial as buyers seek to get a home under contract while rates remain so low.”While we’ve been enjoying historically low interest rates for quite some time, Freddie Mac, Fannie Mae, MBA, and the NAR are all predicting that interest rates will rise in the next year. If you're thinking about buying, it’s important to lock in those rates while you can. When rates go up, so does your monthly payment. If you’re a seller, buyers may no longer qualify to buy your home when rates go up. According to First American Chief Economist Mark Fleming:“Extremely limited supply is stopping the market from reaching its full potential, counteracting positive increases in market fundamentals, such as employment and wages.”Due to lack of inventory and continued steady foot traffic, the measure of months of inventory is low. With consistent foot traffic, that gives us a pretty good outlook for the next year.“Anything under $200,000 is moving quickly in Corpus Christi.” Now let’s talk about the Corpus Christi market itself. According to the Corpus Christi Housing Report, here’s what happened in our market in the last year:The median home price went up 7% to $190,000.Active listings are up 21.2%.The average days on market is up by 11 to give us an average of 66 days on market. Inventory is slightly up, from 4.7 months to 5.4 months.There are currently 389 homes under contract, giving us a 24.9% pending ratio.The $150,000 to $200,000 price range has a relatively large number of pending sales.The $200,000 to $250,000 price range has a relatively large inventory of 241 listings.Today’s absorption rate is 4.2.As you can see, anything under $200,000 is moving extremely well. As you increase in price, absorption rate goes up as well. The absorption rate shows what the supply is compared to the demand.If you have any questions for us or want a more in-depth local market update, give us a call or send us an email. We would be glad to send you a copy of our Corpus Christi Market Watch Report for free- just let us know. We look forward to hearing from you.

Wouldn’t you like to know the MAIN HOT BUTTONS that cause homeowners to become motivated sellers? I’ve got that information (and how to use it) in today’s episode. I’m Carole Ellis. This is Episode 68. So, wouldn’t you like to know what types of things to look for that are most likely to turn a happy homeowner into a motivated seller, fast? Well, fortunately for you, there is a handy dandy survey going around wherein homeowners flat out tell you exactly what motivates them to move! Realtor.com researchers conducted the survey, and you may be surprised at the top reasons that people finally start to want to sell. I’ll tell you all about it in just a moment, but first I have to give you an interesting update on the sale of a marquis Trump property that just might be nearer in the future than most of us imagined. This past weekend, Donald Trump suggested on Fox and Friends Weekend that he would RATHER sell a building than jump in bed with the Republican “elite” donor class. “They want to have control over me,” he said, adding that he doesn’t want people telling him what to do because they donated money to his campaign. Now, you’ve been hearing a lot about Trump lately (and let’s face it, he’s a huge force not just in politics, but also in real estate, so his actions affect us, and you’re going to hear more), but if you want the political aspects of today’s real estate news on a regular, weekly basis regardless of whether or not the guy has done something headline-snatching in the past five days, then you’re going to want to sign up for REI Today’s Trump Tracker. Join up and get all the latest on Trump’s high jinks, headline grabs, and Hilary bashing and, most importantly, what it means for YOU as a real estate investor and an American citizen by signing up for the Trump Tracker right now at www.rei.today/trumptracker (one word). This is NOT political propaganda or a Trump rallying newsletter. It’s what he’s doing, the truth about what he’s saying, and why it should matter to YOUR investing business and how it affects your bottom line. Period. Stay informed on the race that has more to do with real estate investors and their success than any other presidential race in history with REI Today’s Trump Tracker at www.rei.today/trumptracker. You’ll know more than anyone else following the race, and you’ll be the first to be warned if things are about to get seriously hairy (hahahaha). Now, back to what makes happy homeowners into motivated sellers (and this isn’t your typical “Oh, their house burned down or they died or got divorced list” by the way, this stuff is universally applicable). According to realtor.com’s latest study, nearly half of homeowners move for the simple reason that they don’t like the neighborhood anymore. Households where the head of household is between 35 and 44 or older than 65 are particularly motivated by this need because they tend to be in stages of transition. 65 and older are often retiring, while 35-44 are often growing their families. A great way to target these homeowners is to appeal directly to the cause of the desire to move – often safety, better school systems, or general walkability even – and provide them with a good buying alternative and a beneficial way out of their home (perhaps they’ll be open to creative financing with you, for example, or even taking a big price cut because you’ve got a property that fits their needs). The second most common reason that owners turn into sellers is that they need different features in their homes, and this is often a particular issue for older homeowners looking at retirement. They often also have more equity in their properties and may be willing to make a deal with you if you can help them pull out some of that equity and also move fast. The third most common reason (one in five homeowners cite this) that people move is simple: they want or need more room. That’s great news for investors, because the inventory at the lower end of the market is what’s in big, big demand in most areas of the country. Furthermore, realtor.com’s chief economist Jonathan Smoke noted thnat there are several things that actually are PREVENTING motivated sellers (seriously, the guys that will take discounted offers on their properties, folks) from actually making the move to list their homes, and that is truly exciting for an investor who knows how to attract those potential sellers’ attention (by appealing to what is making them want to move) and then is able to remove those stumbling blocks. Get all the details on THIS exciting angle by reviewing the show notes for today’s episode in REI Today Vault at www.rei.today/vault. Not yet a member? No worries! text REITODAY no spaces no periods to 33444 and I’ll immediately send you the information you need to get that access and ALSO provide you with fast, immediate access to all sorts of great trainings, news coverage, interviews, and lot more timely information that will help make your investing safer, faster, and more profitable. And remember, when you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country. Text REITODAY no spaces no periods to 33444 or head over to www.rei.today/vault right now. REI Nation, thanks for listening in and always remember this: Your best investment is your own education. See acast.com/privacy for privacy and opt-out information.

Is the economy shifting? What is the state of today's real estate market? We're joined by Jonathan Smoke to discuss the current state of real estate, as well as gather his predictions on where things are going. Schedule A Free Coaching CallVisit Tim & Julie Harris OnlineListen on iTunesListen on Stitcher

Buying a home? Click here to perform a full home searchSelling a home? Click here for a FREE Home Value ReportI was reading an article recently by Jonathan Smoke about how renters are feeling trapped with all the rent hikes that have been happening lately. He warns that low rental vacancies and a lack of new rental construction are pushing rents up. He says we can expect rents to outpace home price appreciation in the coming year.Some stats says that 49% of rental households spend more than 30% of their income on housing. These households struggle to save for a rainy day and pay other bills, such as food and healthcare. The author goes on to say that housing is central to health and well-being of our country and local communities. In addition, this rental affordability crisis threatens the future of owned housing, as rent will trap more aspiring homeowners into a vicious financial cycle in which they cannot save and build a solid credit score.In more than 75% of the counties across the country it is actually more affordable to purchase a home than to rent. It's not that potential home buyers don't qualify in terms of their credit scores or in how much they have saved for their down payment, it's that they think they're not qualified. Bottom line: don't get caught in the trap so many renters are currently in.If you're ready and willing to buy a home, find out if you're able to! Give us a call or shoot us a call today and we'll put you in touch with a professional who can tell you whether you're ready to get a mortgage. We look forward to hearing you soon.

We’re joined by Jonathan Smoke from Move.Com to discuss current trends in today’s real estate marketplace as we enter into the fall 2015 selling season. Smoke is a 20-year veteran of the real estate industry, the chief economist for Realtor.com, and a regular guest on Real Estate Coaching Radio, and has established himself in the real estate industry as a highly respected economist & strategic thinker. Schedule A Free Coaching CallVisit Tim & Julie Harris OnlineListen on iTunesListen on Stitcher

We're joined today by Jonathan Smoke, the Chief Economist for Realtor.com, who joins us LIVE from the Inman Connect Conference in New York City. Jonathan joins us today to discuss December 2014 Monthly Housing Inventory Data and the Realtor.com® 2015 Housing Forecast, and he's also going to give us some insights into how the Inman event is going, and what the mood of the agents, brokers, and industry representatives in attendance is. Schedule A Free Coaching CallVisit Tim & Julie Harris OnlineListen on iTunesListen on Stitcher

We’re joined today by Jonathan Smoke, the chief economist for Realtor.com®, the official site of the National Association of REALTORS®.   Since our last interview with Jonathan, Realtor.com has released the 2015 Housing Forecast, setting the stage for the return of first-time homebuyers. Jonathan joins us today to discuss this report, as well as the topline market expectations, the key trends, and some of his favorite market picks. Read the Realtor.com 2015 Housing Forecast here.Schedule A Free Coaching CallVisit Tim & Julie Harris OnlineListen on iTunesListen on Stitcher

Today we welcome back Jonathan Smoke to discuss housing market trends in the autumn 2014 real estate housing market, and to discuss what those trends mean to agents & brokers - and what they say about the direction of real estate in general. Jonathan Smoke is the chief economist for Realtor.com®, the official site of the National Association of REALTORS®. The trends we'll be discussing in today's show are outlined in greater detail in October National Housing Trend Report, released on November 13th by Realtor.Com®. Schedule A Free Coaching CallVisit Tim & Julie Harris OnlineListen on iTunesListen on Stitcher 

Today we welcome back Jonathan Smoke to discuss housing market trends in the autumn 2014 real estate housing market, and to discuss what those trends mean to agents & brokers - and what they say about the direction of real estate in general. Jonathan Smoke is the chief economist for Realtor.com®, the official site of the National Association of REALTORS®. The trends we'll be discussing in today's show are outlined in greater detail in August National Housing Trend Report and the September National Housing Trend Report, released on October 20th by Realtor.Com®, and based on September 2014 Real Estate Market Data & Statistics from Realtor.Com. Schedule A Free Coaching CallVisit Tim & Julie Harris OnlineListen on iTunesListen on Stitcher

Today we're joined by Jonathan Smoke from Move.Com to discuss the July housing report and Realtor.Com’s back-to-school study.Smoke is the 20-year veteran of the real estate industry, and recently became the first chief economist for Realtor.com. "Jonathan is a highly respected housing economist and has proven himself as a leader and a strategic thinker in creating innovative data and analytics related to housing," said National Association of REALTORS® Chief Economist, Lawrence Yun. Listen today to hear what Smoke has to say on where today's market is going!  Take Action: Schedule a Free 1-on-1 Coaching Call or Visit Tim & Julie Harris® Real Estate Coaching