Data, Ford, and Musk

Some Data From Cox

Auto Credit Availability Tightens (Again)

Auto credit availability has been tightening for four consecutive months, creating challenges for dealers as customers find it increasingly difficult to secure loans, especially for used vehicles.

• Credit Availability Index: Dropped to 92.9 in July, down 1.0% from June and 1.5% year-over-year.

• Biggest Impact: Used car loans through franchised dealers are seeing the most significant tightening.

• Lenders Pulling Back: Banks are leading the way in tightening credit, marking the fifth consecutive month of stricter lending.

Customer Challenges

Although auto loan rates dipped slightly in July, the spread between these rates and other investments has widened, making loans less appealing to customers. Additionally, more buyers are dealing with negative equity, where they owe more on their old car than it's worth, adding further risk for lenders.

Consumer Confidence: Mixed Signals Affecting the Market

Consumer sentiment is sending mixed signals—while there's some optimism about the future, concerns over the current economic situation, including high vehicle prices and interest rates, could dampen buyers' willingness to purchase.

Ford's Texas Power Play: Free EV Charging for Off-Peak Texans

Ford and TXU Energy will offer Texas residents with select Ford EVs free home charging during off-peak hours (7:00 PM to 1:00 PM).

Qualifying vehicles include the F-150 Lightning and Mustang Mach-E. Participants get a $100 reward card from Ford and $250 from TXU annually. The program runs through 2026. 

Musk Vs Tesla?

In a recent interview with Trump, Elon Musk defended the oil and gas industry, suggesting there's ample time (50-100 years) to transition to sustainable energy, a stance that contradicts his usual climate advocacy.

Could these mixed messages impact Tesla's stock, especially as investors weigh the company's long-term commitment to clean energy?

We aren’t totally sure Elon knows who buys Teslas.