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Automotive Industry:United States: Difference between revisions
→Auto Loan Performance
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== Auto Loan Performance == | == Auto Loan Performance == | ||
=== June 2024 === | |||
Auto loan performance deteriorated in June, as delinquencies and defaults increased.<ref>https://www.coxautoinc.com/market-insights/auto-market-weekly-summary-07-15-24/</ref> | |||
* In June, 1.81% of auto loans were severely delinquent, an increase from 1.80% in May, but not back to the higher levels we saw in March and February. | |||
* Defaults increased 3.6% in total in June and were up 12.6% year over year. | |||
* The June annualized default rate was 2.92%, 10 basis points (BPs) higher than May and higher than the 2.49% annualized default rate in 2019. | |||
* The year-to-date default rate is 3.07%, which is 17 BPs higher than the default rate in 2019. | |||
=== March 2024 === | === March 2024 === | ||