The surge in Starts is the best month since January 2018
The plunge in Permits is the worst month since Feb 2017
|Overall It Appears Auto Sales Have Topped|
Ford's plan to eliminate selling most of its cars in North America except for two models will allow the company to focus on their “winning portfolio” in the United States, Canada, and Mexico. The Detroit automaker plans to continue manufacturing the Ford Mustang and a new Focus crossover that the company plans to release next year. That vehicle will be assembled in China and imported to the United States. Dropping other models will allow the company to devote more resources to SUVs and trucks which have surged in popularity while consumers lost interest in passenger cars, which no longer have a monopoly on good gas mileage, also their new marketing direction will allow Ford to expand into more electric vehicles bringing 16 battery-powered vehicles to market by 2022.
Circling back around to the intended focus of this article, it is likely jobs will be lost in both these important sectors of the economy in coming months. This will in itself create an economic headwind that affects overall growth. Many trends are expected to feed into the coming slowdown such as smaller housing units and self-driving cars as well as a slew of new car sharing programs. As the auto sector moves into the future we will see a reduction in the number of cars produced in and for America and as most production lines are retooled for new vehicles it is likely more automation and robots will be used. None of this bodes well for those predicting the economy will continue humming along.
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Footnote; Below is the link to a recent article about housing