Wall Street eyes auto industry earnings for signs of ‘demand destruction’


A sign advertises to purchase cars at a used car dealership in Arlington, Virginia, February 15, 2022.

Saul Loeb | AFP | Getty Images

DETROIT – Since the start of the pandemic in early 2020, U.S. automakers and dealers have seen record profits as demand outpaced supplies of new cars amid supply chain problems.

But with interest rates rising, inflation at record highs and recession fears looming, Wall Street is closely watching third-quarter earnings results and guidance for any signs consumer demand might be weakening.

“Auto sentiment is very poor. We get it. Higher rates, still high prices, low consumer confidence, a potential recession and European energy risk does not make autos a…


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