Delinquency on the Rise, Consumer View on Vehicle Buying Deteriorates
As delinquency continues to rise, consumers' view on buying vehicles also deteriorates.
Cox Automotive chief economist Jonathan Smoke noted that the initial October reading of consumer sentiment from the University of Michigan showed a modest improvement in consumers' views of buying conditions for vehicles, but it remains worse than a year ago.
Consumers' views of buying conditions for vehicles improved modestly but remain worse than a year ago.
According to Cox Automotive data from September, 60-day-plus delinquencies rose, indicating a concerning trend in the auto loan market.
- 60-day-plus delinquencies increased.
Author's summary: Delinquency rises, affecting consumer vehicle buying views.