A lot of bad news for months now with respect to auto sales in the US and all over the globe as well as record subprime auto loan defaults and massive piling up of used car inventories. Back in February 2019, the NY Fed put out a research report that the auto-loan delinquency rate was at highest level since 2012 and that the number of auto loans that are at least 90 days late surpassed 7M at the end of last year, the highest amount in the 19 years that the NY Fed has been keeping track of this data!
And things have gotten worse since February! The global auto sales in China, India and the US have continued to fall rapidly.
Articles About the US, Indian & China Auto Sales Continuing To Fall & Worse Problems In the Subprime Auto Loan Market:
1) "The Collapse Is Here": Initial U.S. Auto Sales For September Paints An Ugly Picture
2) Subprime Auto Loans Are Defaulting At Fastest Rate Since 2008
3) Used-Car Price Tumble Spells Trouble for the U.S. Auto Market
4) Rising old used car prices help push poor Americans over the edge
5) Tesla Discloses US Revenues Collapsed 39%. Americans Sour on its Cars, Pent-Up Demand Exhausted
6) India Auto Sales Take Record Fall in 10th Straight Month of Declines
7) China Auto Sales Fall 6% In October As Global Auto Recession Shows No Signs Of Slowing
8) China Considers Cutting Electric Vehicle Subsidies Again
9) Musk-Einhorn Twitter War Erupts After Greenlight Responds To Tesla CEO's Taunts
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