'Auto Trends' Talks To Bloomberg Intelligence About New Vehicle Affordability And More

Bloomberg Intelligence Global Director of Automotive Research Kevin Tynan

For car buyers who have been out of the market since the pandemic, they might be somewhat alarmed when price shopping for a vehicle. The question everyone seems to be asking is when will new car prices begin to slide in reverse. This week on Auto Trends with JeffCars.com, Bloomberg Intelligence's Kevin Tynan, who is also known as a senior auto analyst, joins us to recap the first quarter sales, while discussing vehicle affordability. 

After a C-Suite Toyota executive announced in 2023 that the average price of a new vehicle would top $50,000, we'll deliberate about where average transaction prices are currently in 2024, as we examine non luxury, luxury and fully electric vehicle prices, as compared to 2021, when consumer demand outstripped inventory.

Auto Analyst Kevin Tynan Talks To 'Auto Trends' About The Current State Of The Car-Buying Market

Kevin Tynan is a senior auto analyst at Bloomberg Intelligence. (Photo Credit: BI)

This week on Auto Trends with JeffCars.com, a multicultural syndicated automotive program, we delve into both the new and used car buying markets, sharing what consumers should anticipate paying.

Kevin Tynan, a Bloomberg Intelligence senior auto analyst and a regular contributor to the program, examines everything from new vehicle leasing and its impact on the future of used car pricing to the vehicle segment consumers can expect healthy discounts, after the average transaction price (ATP) maxed out at $67,000 in 2022.

Tynan will also briefly share his perspective on the UAW strike. 

The Detroit News Discusses The Historic UAW Strike With 'Auto Trends'

Breana Noble is an automotive and business reporter for The Detroit News. (Photo Credit: Linkedin)

As the United Auto Workers enter its third weekend of striking against Ford, General Motors and Stellantis simultaneously, The Detroit News' Breana Noble joins Auto Trends with JeffCars.com, a syndicated multicultural automotive program for a wide-ranging conversation.

During the in-depth discussion, we'll cover everything from both President Biden and President Trump visits to Michigan this week to how UAW's Shawn Fain leadership style and strike strategy differs from previous leaders, since its founding in 1935, to why Ford is pausing construction of one of its EV plants in Michigan to the strikes potential impact on car transaction prices.

Noble's breadth and depth of knowledge about the Detroit-based automakers will give listeners insight, as to how all three automakers have found themselves using a variety of unconventional communication means in their frustrated attempt to negotiate with the UAW.

Bloomberg Intelligence Talks To 'Auto Trends' About Used Car Prices And More (Two Shows)

 

With the Federal Reserve constantly raising interest rates to combat inflation combined with the average new 'car mortgage' payment in October being a record $748 a month, tune in over the next two weeks as Bloomberg Intelligence senior auto analyst Kevin Tynan joins us for a two-part conversation to discuss the used car market, the state of car leasing and its impact on used car pricing, new car 

'Auto Trends' Talks Rural Black Town Vs The State As Ford Builds A Mega Electric Vehicle Campus (Two Part Show)

Photo Credit: Ford Motor Company

In September 2021, Ford Motor Company announced the creation of a mega electric vehicle campus known as Blue Oval City, which is based in Stanton, Tennessee. Stanton is located approximately 50 miles outside of Memphis, Tennessee.

Ford’s $5.6 billion dollar electric battery and manufacturing campus will be the largest in the Ford world, according to representatives from the automaker. The sleepy little Town of Mason, Tennessee, which is located just five miles away from the site of the new Mega campus, is being led by an all-black administration. 

Experian's Melinda Zabritski Talks Car Payments, Lease Payments And More On 'Auto Trends'

 

Melinda Zabritski (Photo Credit: Experian Automotive)

Tune in Friday, May 14 thru Monday, May 19 on our FM outlets too, click here.

'Auto Trends' Talks To Bloomberg Intelligence Auto Analyst Kevin Tynan (Two-Part Show)

Show 1 with Bloomberg Intelligence will air Saturday, April 23 thru Thursday, April 28

Show 2 with Bloomberg Intelligence will air Saturday, April 30 thru Thursday, May 5

To tune in via Sirius and our FM radio affiliates, click here.

 

Cox Automotive’s Kayla Reynolds Talks About The State Of The Auto Industry On 'Auto Trends'

 

Kayla Reynolds, Cox Automotive’s manager of economics and industry intelligence, joins Auto Trends with JeffCars.com to discuss the current state of the automotive industry.

During the in-depth conversation, Reynolds focuses on the key indicators that are literally ‘driving’ the economy and causing new car prices to rise upwards of $3,000, since 2019. Moreover, for cash strapped consumers, who feel as though they are being priced out of the new car market, she explores the impact Covid-19 and other factors are having on the used car market.

Car Shoppers Beware: Several Ways To Navigate The Covid-19 Price Increases

 

Its not uncommon these days to see virtually empty car lots. This is as a result of  auto manufacturing plants closing last spring, at the request of the government to combat Covid-19. Ironically, almost a year later, the auto industry is still reeling from the closures in both the new and used car markets. Thus, this has led to a historic price surge in both the new and used car markets. In some cases a market adjustment have been applied to some vehicles for dealers to literally capitalize upon the inventory imbalance.

Moreover, throughout the pandemic, the government has doled out billions in financial incentives to stimulate the economy to business owners, gig workers, parents with young kids under 18 and to most taxpayers, in order to steer clear of another Great Recession. While there is a segment of the population that has been impacted by the hardest hit areas of the economy: travel, hospitality and the restaurant industry, there is a segment of society, who hasn’t missed a beat, in terms of their income, with the ability to work from home all while taking care of their kids. With this being the case, according to J.D. Power Insights, the sales of new vehicles in the U.S. priced above $80,000 more than doubled in the first five month of 2021, when compared to the same period in 2019.

Cox Automotive Talks Average Transaction Prices And More On 'Auto Trends'

 

2022 Jeep Grand Wagoneer

We go one on one with Mark Schimer, who is a Detroit-based director at Cox Automotive, talking about the day supply and the average transaction price consumers should expect to pay for many of today's vehicles. 

To tune in to SiriusXM and our FM radio outlets, click here.

'Auto Trends' Talks Sales Trends with IHS' Minority Auto Analyst Marc Bland

Are automakers ads, marketing, etc. reflective of today's multicultural car buyers and their spending power? Find out this year's car-buying trends and more, as IHS's analyst Marc Bland joins us to recap this year's sales.

To hear the show on one of our FM affiliates this weekend, click here.

An Industry I Have Given My Life To Has Gone Silent Like A Hybrid

This is the paint job of NASCAR's only Black fulltime driver Bubba Wallace, Jr., official Black Lives Matter car, after the sport agreed to ban the Confederate flag.

Dear Automotive Community,

Over the past few weeks, America has been dealt a triple whammy. Our country has had to manage COVID-19, the recession and the recent racial injustices that can no longer be ignored. As Americans, we are no longer in a position to lecture other countries about their human rights injustices, when this country has literally turned a blind eye to the Black community, more specifically Black men who look like me.

The industry, which I have invested my life in, has literally switched into hybrid mode - being as silent as a mouse. Unlike with COVID-19, almost every automaker wanted to show the world how they were committed to fight the virus. Most automakers adjusted their advertising to reflect the mood of America, while others offered 'Car Mortgages' and deferred payments to let Americans know, as many were sheltered in place, and unable to work, sending the message we are here for you. Some car companies converted segments of their manufacturing plant to build ventilators, while others lent out vehicles to essential workers. The automotive community showed their compassionate side, as well as their financial commitments.

'Auto Trends' Talks About The Corona Era And The State Of The Auto Industry - Past, Present And Future (A Two-Part Show)

Since the last recession, the auto industry has literally been on a roll, as automakers battle between building more trucks and crossovers, while being pushed to focus on the future with electric cars and self driving vehicles. However, with the Coronavirus era in full effect, the game has now changed in the industry. Auto analysts from Detroit's LMC Automotive and New York's Bloomberg Intelligence join Auto Trends with JeffCars.com for a wide-ranging, two-part conversation, as we examine the state of the car industry, while looking in reverse and forward.

Airing Friday, October 19 On SiriusXM Channel 141

With the average vehicle transaction price in September rising to $35,700, a $700 increase over the previous year, and the Federal Reserve enacting several interest rate hikes over the past 17 months, LMC Automotive's Katelyn Drake and Bloomberg Intelligence's Kevin Tynan joins us over the next two weeks to share their automotive insights on a variety of factors that are driving up car prices. More importantly they'll steer us toward where to find the best auto deals.

Rewind Interview: The Brother That Put Chrysler Back in the Black (Part One of Two)

Photo Credit: JeffCars.com

Our one-on-one interview with Ralph Gilles, the brother behind Chrysler's 300, first ran on Tom Joyner’s website, BlackAmericaweb.com, on June 25, 2006. In case you missed it, here's an opportunity to see what was on the mind of Chrysler's current Group vice president of design.

When every auto critic questioned whether American consumers would buy the bold, in-your-face, rear-wheel-drive Chrysler 300, especially in snowy climates such as the Midwest and the Northeast, Chrysler executives ignored the critics and continued on their path to build such a vehicle.

Fortunately for Ralph Gilles, the 36-year-old, one-time college dropout and lead designer of the ultra-popular 300 for the Chrysler Group, the American buying public stood in line to snatch-up all of the vehicles that were available and ignored the critics too. Prior to the launch of this vehicle, Chrysler was bleeding red, with a $637 million loss in 2003. Gilles’ design influence helped put the company back in the black. The company posted a $1.9 billion profit in 2004 while many of their domestic competitors have been struggling since to improve their designs and profitability.

Auto Affordability, Best Since 2009

According to Comerica Bank latest Auto Affordability Index Study, the average priced new-vehicle took 23.1 weeks of median family income during the last quarter of 2011, the best affordability reading since the third quarter of 2009.

Consumers on average spent $1,050 less, a decrease of 4 percent on new vehicles in the fourth quarter. This is a sign that the economy is headed in the right direction, since new vehicle purchases are a primary indicator of the health of the economy. The rising gas prices are the only item that we haven't factored in that could possibly send car sales into a tailspin.