Delinquency Rise Impacts Consumer View on Vehicle Purchases
As delinquency rates continue to increase, consumers' perception of buying vehicles is also deteriorating.
Consumers' views of buying conditions for vehicles improved modestly but remain worse than a year ago.
Cox Automotive chief economist Jonathan Smoke noted this in his Auto Market Weekly Summary, citing the initial October reading of consumer sentiment from the University of Michigan.
- 60-day-plus delinquencies rose, according to Cox Automotive data from September.
Author's summary: Delinquency rise affects consumer vehicle purchase views.
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