Subprime is the mother lode of profits – until it isn’t.
By Wolf Richter for WOLF STREET.
Subprime is re-getting into trouble, after having somewhat gotten out of trouble during the free-money pandemic, when folks used some of the free money to catch up with past-dues.
In the auto industry, subprime is largely confined to older used vehicles. Less than 5% of new vehicle sales are financed with loans or leases to subprime-rated customers (more in a moment). The…
Comments are closed