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Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
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SEARCHMENUSEARCHMost financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
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Now in week three of February, we continue to see the wholesale market improving.
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TransUnion report shows pandemic-caused drop from 31% to 17%.
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Consumers financed more than 91,000 used electric vehicles (EVs) in 2022, up 45% from 2021, according to Experian data.
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According to EV-Volumes data, from Jose Pontes, five OEMs handled more than half of all EV sales.
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Hits 2 ½-year low. Subprime, negative-equity shares fall.
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Volkswagen AG reported its cash flow fell short of expectations as supply chain snags led to higher unsold inventory at year’s end.
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The reduction in weekly depreciation that started a couple of weeks ago continued again last week, with the market reporting the lowest overall depreciation we have seen since the end of June 2022.
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Dealers report elevated prices, a lack of affordable vehicle models, and higher interest rates are pricing many consumers out of new cars.
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Integrations between Gubagoo Virtual Retailing and KBB ICO now live for dealers seeking to harness the combination.
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Auto lenders, securitization providers continue adoption of digital assets, workflows, but industry headwinds could slow progress.
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