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Despite the expected volume decline, the firm put September’s seasonally adjusted annual sales rate at a healthy 17.1 million, down from last September’s 18.1 million SAAR. The company said higher interest rates and talks of tariffs may be having some pull-ahead impact in the market.
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Despite three automakers reporting sales gains and the world’s largest retail association predicting that December will see the biggest increase in spending since 2006, the Conference Board reported that consumer confidence dipped in the year-end month for the first time in two months.
Read More →The national unemployment rate was unchanged in December at 10 percent, but was 2.6 percentage points higher than the year-ago period, according to the U.S. Bureau of Labor Statistics.
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The U.S auto loan ABS sector has performed relatively well in 2009 compared to other ABS asset classes despite the increase in unemployment, bankruptcies of GM and Chrysler and the volatility in the used-car market, according to ratings firm DBRS.
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Understanding why the performance of auto loan-based portfolios is improving even as the economy is contracting is the key to knowing when to package and sell your retail installment contracts.
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