By on April 5, 2017

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The auto industry has really turned a corner over the last decade, but this year has been underlined by an unsettling lack of interest in new vehicles — potentially hinting at the return of a industry-wide crisis. The good news is that abnormally high used car prices are sinking like a stone. The flip-side of that coin, however, means that we could be approaching darker days as more consumers shy away from the new vehicle market.

Most carmakers spent last year enjoying record sales but seemed keenly aware that the market was about to plateau. However, 2017 sales have stagnated more than predicted, with rising interest rates and deflated prices seen on second-hand automobiles. It all looks very pre-recessionish and some analysts are beginning to make fearful noises.  (Read More…)

By on March 29, 2017

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A third of all subprime car loans are now being categorized into the ominous-sounding “deep subprime” group. The designation has become progressively more inclusive since America clawed its way out of the recession and now accounts for 32.5 percent of all high-risk loans — up from just 5.1 percent in 2010.

While consumers have fallen behind on most subprime auto loans, the deep classification is responsible for the most serious cases of nonpayment. Delinquencies surpassing 60-day periods have tripled since 2012 and indicate little sign of stabilizing.  (Read More…)

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