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OEM Sales Struggling, Experian Giving the Wrong Number, Metaverse Jobs Lost In The Metaverse

20:15
 
Jaa
 

Manage episode 336613320 series 2988189
Sisällön tarjoaa ASOTU. ASOTU tai sen podcast-alustan kumppani lataa ja toimittaa kaiken podcast-sisällön, mukaan lukien jaksot, grafiikat ja podcast-kuvaukset. Jos uskot jonkun käyttävän tekijänoikeudella suojattua teostasi ilman lupaasi, voit seurata tässä https://fi.player.fm/legal kuvattua prosessia.

We are fired up after a day of content creation and invigorating conversations! Today we dive into the OEM sales data from July, an issue with credit reporting from Experian, and a downturn in overall job listings pertaining to Metaverse roles across job boards. Time to kick it into high gear as we roll up our sleeves and get to work!

  • July US Light Vehicle sales down 11%, Toyota down 21%, Honda down 47%, Mazda down 29%
    • Toyota and Honda down for 12th straight month, Hyundai and Kia down 5 months
    • Toyota ended July with 104,790 vehicles in stock — 14,258 at dealers and 90,532 in port or transit — or a 16-day supply.
    • Hybrids and plug-in hybrids rose 12 percent at Hyundai and 86 percent at Kia
    • American Honda said the Honda and Acura brands continue to see "unprecedented high turn rates," reflecting "strong retail demand" despite supply chain and logistics constraints
    • "There are plenty of headwinds pushing against a notable recovery in sales volumes," Cox Automotive Senior Economist Charlie Chesbrough said. "Rising interest rates and low consumer sentiment are keeping many potential buyers out of the market. At the same time, higher prices for both gasoline and vehicles are making affordability an even greater challenge. Tight supply, however, continues to be the biggest obstacle over the near term, and there is little evidence of supply returning to normal."
    • Avg interest rate was 5.5%, avg loan term 71 mos
  • Experian reports inaccurate credit scores delivered for millions of customers affecting rates
    • provided inaccurate credit scores on millions of U.S. consumers seeking loans during a three-week period earlier this year, according to bank executives and others familiar with the errors.
  • Mark Begor, Equifax’s chief executive, publicly acknowledged the flub at a June investor conference, calling it a coding issue that affected “legacy applications that resulted in some scores going out that had incorrect data” “The impact is going to be quite small,” Mr. Begor said, “not something that’s meaningful to Equifax.
  • Equifax told one large auto lender that about 10% of applicants during the three-week period had inaccurate scores, according to a person familiar with the matter. Of those, several thousand saw a change of 25 points or more on their credit score, the person said. In a small number of cases, applicants went from having no credit score at all to a score in the 700s—or vice versa, the person said.
  • Metaverse job openings are down 81% between April and June
    • A report from Bloomberg highlighting Revelio Labs study showed that postings for jobs relating to the “metaverse” dropped by a whopping 81% between April and June 2022
    • Meta CEO cited “fierce headwinds” in a recent call while Apple CEO Tim Cook said the company was taking a more ‘deliberate’ approach to hiring
    • Slow adoption and low to no current revenue opportunities are driving the slowdown
    • Take away: Exploration and innovation take a backseat to survival

Get the Daily Push Back

Hosts: Paul J Daly and Kyle Mountsier
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-email

  continue reading

699 jaksoa

Artwork
iconJaa
 
Manage episode 336613320 series 2988189
Sisällön tarjoaa ASOTU. ASOTU tai sen podcast-alustan kumppani lataa ja toimittaa kaiken podcast-sisällön, mukaan lukien jaksot, grafiikat ja podcast-kuvaukset. Jos uskot jonkun käyttävän tekijänoikeudella suojattua teostasi ilman lupaasi, voit seurata tässä https://fi.player.fm/legal kuvattua prosessia.

We are fired up after a day of content creation and invigorating conversations! Today we dive into the OEM sales data from July, an issue with credit reporting from Experian, and a downturn in overall job listings pertaining to Metaverse roles across job boards. Time to kick it into high gear as we roll up our sleeves and get to work!

  • July US Light Vehicle sales down 11%, Toyota down 21%, Honda down 47%, Mazda down 29%
    • Toyota and Honda down for 12th straight month, Hyundai and Kia down 5 months
    • Toyota ended July with 104,790 vehicles in stock — 14,258 at dealers and 90,532 in port or transit — or a 16-day supply.
    • Hybrids and plug-in hybrids rose 12 percent at Hyundai and 86 percent at Kia
    • American Honda said the Honda and Acura brands continue to see "unprecedented high turn rates," reflecting "strong retail demand" despite supply chain and logistics constraints
    • "There are plenty of headwinds pushing against a notable recovery in sales volumes," Cox Automotive Senior Economist Charlie Chesbrough said. "Rising interest rates and low consumer sentiment are keeping many potential buyers out of the market. At the same time, higher prices for both gasoline and vehicles are making affordability an even greater challenge. Tight supply, however, continues to be the biggest obstacle over the near term, and there is little evidence of supply returning to normal."
    • Avg interest rate was 5.5%, avg loan term 71 mos
  • Experian reports inaccurate credit scores delivered for millions of customers affecting rates
    • provided inaccurate credit scores on millions of U.S. consumers seeking loans during a three-week period earlier this year, according to bank executives and others familiar with the errors.
  • Mark Begor, Equifax’s chief executive, publicly acknowledged the flub at a June investor conference, calling it a coding issue that affected “legacy applications that resulted in some scores going out that had incorrect data” “The impact is going to be quite small,” Mr. Begor said, “not something that’s meaningful to Equifax.
  • Equifax told one large auto lender that about 10% of applicants during the three-week period had inaccurate scores, according to a person familiar with the matter. Of those, several thousand saw a change of 25 points or more on their credit score, the person said. In a small number of cases, applicants went from having no credit score at all to a score in the 700s—or vice versa, the person said.
  • Metaverse job openings are down 81% between April and June
    • A report from Bloomberg highlighting Revelio Labs study showed that postings for jobs relating to the “metaverse” dropped by a whopping 81% between April and June 2022
    • Meta CEO cited “fierce headwinds” in a recent call while Apple CEO Tim Cook said the company was taking a more ‘deliberate’ approach to hiring
    • Slow adoption and low to no current revenue opportunities are driving the slowdown
    • Take away: Exploration and innovation take a backseat to survival

Get the Daily Push Back

Hosts: Paul J Daly and Kyle Mountsier
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-email

  continue reading

699 jaksoa

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