Driving Sales

By Econ70 | 04/10/2013

Last week automakers reported sales of 15.3 million, up from a low of 9.0 million in February 2009. The rise is due in part to ultra-low interest rates, but also to both a rapidly aging fleet and longer loan terms. The average age of a car is now 11.2 years, up from 8.4 in 1995,…

Read More

Motor Money

By Econ70 | 01/31/2012

One reason car sales hit an annualized rate of 13.5 million units in December, the best showing in years, is lenders are chasing borrowers who are behind on their mortgages! From Q1 throughQ3 ’11 205K loans were made to buyers who were late on their mortgage or experienced a foreclosure, up from 60K during the…

Read More