Black Book reports auction inventory up and sales results down, again
It’s normal for wholesale prices to decline this time of year, but this decline is in excess of normal. In addition, in Black Book’s October 4th Market Insights report, they reported that sales rates, the percentage of vehicles sold decreased, declined while retail inventories rose. Blame some of it on Hurricane Ian, but overall, auction results are not looking good. If repossession volumes are indeed on the increase, this could spell for large losses to lenders everywhere.
Wholesale auto market declines for 10th straight week – Repossession – Credit Union Collections – Credit Union Collectors
More Stories
Stupid Stuff Fraudsters Buy: The $250 Million Pool Shark
Ally Keeps Growing as Auto Loan Delinquencies and Losses Edge Higher
When a Car Is Obtained Through Fraud, Is It Counted as Stolen?
Credit Union Employee Accused of Stealing from the Dead
Credit Union Promoted Employee Despite Fraud Warnings — Then Collapsed Under $3.5 Million in Losses
The New Normal? Auto Loan Delinquencies May Have Found Their Floor