Excluding auto and gas, sales rose 7.9%. While that’s a slowdown from 7.7% YoY growth in January (or 9.0% YoY after excluding auto and gas), it shows that consumers continued to spend even with inflation at 6.0% in February. Notably, retail sales in the first two months of 2023 increased 6.8% YoY, or 8.8% YoY after excluding auto and gas.
Article
| Mar 15, 2023
With a new universe to promote, Mattel has released a line of Barbie The Movie dolls, featuring dolls, outfits, toy cars, and a replica of the Barbie Dreamhouse from the movie. Last year, Barbie generated $1.49 billion in worldwide gross billings (Mattel’s metric for comparing its businesses), nearly a quarter of the company’s total. That number was down 11% from 2021.
Article
| Jul 12, 2023
Qualcomm’s CEO Cristiano Amon wants to transform the company into a broader provider of semiconductors serving automotive, IoT, and the PC and server market. According to a new report from Bloomberg, Nuvia's original goal of building server chips will be allowed to continue under Qualcomm’s supervision.
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| Aug 23, 2022
Leading P&C insurers faced a significant rise in auto claims in 2021 as driving returned to pre-pandemic levels. Geico, Progressive, and Allstate all reported worsening claims severity within their personal auto businesses for the first nine months of 2021.
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| Feb 3, 2022
While media businesses were jolted by the changes that swept the world in early 2020, they were not as affected as industries more dependent on people visiting physical sites, like travel, automotive, and entertainment.
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| Nov 16, 2021
If it does, Goldman could tether the card to a car-based wallet to attract spending as in-car payments become more common. It could also explore tie-ups with digital fuel and parking payment upstarts—or build financing relationships as US car purchases rise in 2022.
Article
| Jan 12, 2022
We’re starting to see cracks in Tesla’s tech-focused approach to car design and development. These safety issues are multiplying as the company hyper scales to meet demand. Unlike traditional carmakers, which develop models around driver and passenger safety standards, Tesla’s focus on performance and luxury often comes at the cost of compromised passenger security.
Article
| Feb 14, 2022
In 2021, the fintech acquired four companies, including credit and financing provider Bcredi, and auto insurance firm Minuto Seguros. Creditas also operates Creditas Auto, a car marketplace; Creditas Store, an ecommerce platform with a payroll-deductible buy now, pay later (BPNL) model; and Voltz Motor, which offers electric motorcycles.
Article
| Jul 12, 2022
Demand in 2022 will be driven by investments in “AI, cloud and data center expansion, health care, and growing automotive applications,” per Duncan Stewart, Deloitte’s director for technology, media, and telecommunications. "Every end market for semiconductors is growing, and growing as fast or faster than ever before," Stewart said.
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| Jan 11, 2022
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| Sep 27, 2023
Source: Deloitte; American Marketing Association (AMA); Duke University's Fuqua School of Business
According to Kelly Blue Book’s February 2022 sales, the average electric vehicle sold for $64,685 compared with $46,085 for the average consumer car, although some of the difference can be attributed to a more luxury mix of electric cars. This premium for electric trucks will likely fade soon, thanks to tax incentives, geopolitical turmoil in oil-producing areas, and improving technology.
Report
| Apr 6, 2022
Rising interest rates are hurting sales for used cars, which is impacting Carvana’s ability to offload the inventory it amassed when used car prices were at their peak. The company lost $508 million in Q3 alone, and will likely face a restructuring next year to address a potential liquidity crunch.
Article
| Dec 21, 2022
What this means: We’re already seeing the Ukraine conflict’s effect on gas prices, and now everything from food to materials for chip and automotive production could be disrupted, per Bloomberg. Various multinational companies have shuttered their factories and offices in Ukraine, halting the production and shipment of goods and components.
Article
| Feb 28, 2022
Excluding gas and autos, retail sales last year rose 8.5% YoY, roughly in line with our forecast’s projected 8.7% growth rate.
Article
| Jan 18, 2023
Smartphone-based voice assistants can also be used to access a variety of other devices, like cars and smart home tech. For example, it is more common for users to access connected car services through phone-connected platforms like Apple’s CarPlay than the embedded systems that come in vehicles.
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| Sep 13, 2022
Yeah, and cars, as we all know, it's not like you buy a car every year. So I think there's a lot of moving parts for Carvana. The interesting question I think is, how did they get to being an online player? Sara Lebow:. I don't have the answer to that. Do you, Blake? Blake Droesch:. They were always online, though. Sara Lebow:. No, I mean, who buys cars online?
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| May 23, 2023
While issues like cord-cutting might make it easier for these companies to justify cuts, they’re not a driving factor the way they are for the auto industry, especially since Geico and other insurers are heavy spenders across various advertising channels, and all of it is getting cut.
Article
| Mar 27, 2023
Ford, which is in the middle of an EV pivot, is laying off 3,800 employees in engineering and administration, signifying more possible layoffs in automotive and EV sectors. Meta is reportedly considering a fresh round of layoffs in March as a continuation of its “year of efficiency,” per TechCrunch.
Article
| Feb 15, 2023
Cars are the next battleground for AR. Automakers are adding head-up displays to project information onto windshields that can be seen while a vehicle is driven. Acura, Audi, BMW, Chevrolet, Hyundai Motor Co., and Toyota Motor Co. added this feature to their 2021 model year cars. 5G makes advanced immersive experiences possible.
Report
| Apr 4, 2022
The Echo Auto, enabling Alexa capabilities for vehicles. An Echo Dot Kids device with child-focused content governed by parental controls. The Alexa Together, a service that helps families monitor loved ones.
Article
| Oct 3, 2022
The bank relies a lot on its auto finance segment—its roots go back to 1919 when it was founded for this purpose as a unit of General Motors. Overall, auto finance made up almost 91% of its Q3 2021 pre-tax income from continuing operations. Meanwhile, Ally’s other revenue sources are mortgage finance, corporate finance, and insurance.
Article
| Oct 25, 2021
Increases in travel ad spending are close to levels last seen in the 2020 first quarter, with the major categories–airlines, lodging providers, rental car companies, and tourism boards–all coming back, per a MediaRadar report. As travel marketing resumes, it’s likely that a fair share of those funds will go to creator partnerships, increasing total influencer marketing spending.
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| Sep 30, 2022
For example, Lemonade recently acquired Metromile and added auto insurance to its growing offerings, while earlier this year Metromile and Hippo partnered to offer consumers a bundled auto and homeowners insurance product. Predictions. The fintech funding wave will reach a new peak next year as global volumes pass the $150 billion mark, following a record-breaking 2021.
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| Dec 6, 2021
Vehicles and auto parts rose 5.7%. Spending at restaurants and bars fell about 1%, which is likely the result of the omicron variant keeping more people at home. Inflation’s impact: Inflation played a role in the spending totals as prices rose 0.6% in January.
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| Feb 16, 2022
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| Sep 27, 2023
Source: Forrester Consulting; Smartly.io