Delinquency Rates on the Rise, Affecting Consumer Sentiment
As delinquency continues to rise, consumers' view on buying vehicles 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.
- 60-day-plus delinquencies rose, according to Cox Automotive data from September.
Author's summary: Delinquency rates rise, affecting consumer sentiment on vehicle purchases.