Everything is fine! 🐸
“Loan defaults declined 13.5% from November but were up 16.9% from a year ago. The annualized auto loan default rate in December was 2.56%, which was lower than the 2.98% rate in December 2019. The default rate in 2022 was 2.28%, up from a low of 1.98% last year but still lower than the 2.90% rate in 2019.”
https://t.co/uUkbLsHXNH
“Loan defaults declined 13.5% from November but were up 16.9% from a year ago. The annualized auto loan default rate in December was 2.56%, which was lower than the 2.98% rate in December 2019. The default rate in 2022 was 2.28%, up from a low of 1.98% last year but still lower than the 2.90% rate in 2019.”
https://t.co/uUkbLsHXNH
ZeroHedge
Auto Crisis Worsens As Rate Of Severely Delinquent Loans Hits 2009 Levels
"People are not paying their car loans."