Default Rates Increased in August
Default rates inched up in August across multiple consumer credit categories, including auto loans and mortgages, according to data released by S&P Dow Jones Indices and Experian.
Default rates inched up in August across multiple consumer credit categories, including auto loans and mortgages, according to data released by S&P Dow Jones Indices and Experian.
Because of the timing of Labor Day, August new-vehicle sales will not get the boost they got last year from the holiday sales weekend. But KBB analysts still expect August sales to 'remain robust.'
In August, prices were down on a year-over-year basis for the first time since the beginning of 2014, part of a softening trend in wholesale prices.
August sales rose 5.5% from a year ago to 1.6 million units sold, according to Autodata Corp. The firm put the August SAAR at 17.53 million units, up from 15.94 million one year ago.
CNW Research says ‘fishy’ math was behind the 20 percent sales increase in August. The firm put the real increase at around 15.25 percent.
Mercedes-Benz USA followed suit with many other top OEMs, reporting solid sales gains for August.
Minus Mercedes-Benz, automakers issued their sales reports for August. Big winners include Chrysler, Honda, Toyota and Nissan.
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