More Signs Of The “Strong US Consumer” Emerge As Auto Repossessions Soar
by Tyler Durden
ZeroHedge.com
Nov 3, 2016
A quick glance at recent U.S. auto sales would imply that all is well in autoworld. Sure, sales have stagnated for about a year but they’re still near all-time highs, right?
That said, a look just beneath the surface reveals a slightly different take on the U.S. auto industry. As the Financial Times recently pointed out, auto repossessions in the US are soaring and, with the exception of the “great recession” in 2008 and 2009, stand at the highest levels recorded in 20 years.
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