Moody’s: Negative Outlook for Largest Ever $1.1 Trillion Auto Loan Market
“Signs are there that we might be approaching an inflection point in the marketplace for autos,” William Black, managing director at Moody’s, said on Tuesday. No credit expansion lasts forever.
Moody’s is also forecasting a drop in used-car prices thanks to pressure from a record number of off-lease supply.
When it comes to auto loans, Moody’s said strong competition among banks, credit unions and finance companies has led to looser underwriting standards. That is “driving rising delinquencies and losses,” the report said. Here is a direct video link.
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