十万火急US car loan market tio BBQ liao.

[k1976]

https://www.bloomberg.com/news/arti...r-prices-drop-as-negative-equity-slams-buyers

 

[k1976]

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Wealth

‘Underwater’ Car Loans Signal US Consumers Slammed by High Rates​

Negative equity on automobiles is at the highest level in more than three years, with higher prices and borrowing costs hitting owners.

A surge in car buying and interest rates has strained finances and fueled an uptick in automobile repossessions.
Photographer: Alex Kraus/Bloomberg
By Claire Ballentine
December 16, 2023 at 10:00 PM GMT+8
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It’s a tough time to be a car owner in the US.
Prices for new vehicles are high. Interest rate hikes have made loans more expensive. And many car owners now owe more on their loans than their vehicle is worth.

This situation — commonly called being “underwater” or having “negative equity” — occurs when the price of a car falls faster than the owner can pay down the loan for it.

 

[k1976]

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Economic and Market Report: Global and EU auto industry – First three quarters 2023​

7 December 2023

Economic and Market Report – First three quarters of 2023
ACEA’s Economic and Market Report provides current and forecast data on car sales, production, and trade in Europe and global markets.

Key insights​

Sales​

• EU car sales surged by almost 17% in the first three quarters of 2023, with 12% growth forecast for the full year
• EU car sales are expected to increase by 2.5% in 2024, albeit at a slower pace compared to 2023
• Battery-electric car sales grew by 55% in the first three quarters of 2023. The share of battery-electric models is expected to rise to 14.5% by the end of 2023
• Japanese and US car sales experienced robust growth in the first three quarters of 2023, growing by almost 18% and over 15%, respectively
• Conversely, China’s car market stalled in the first three quarters of 2023, growing nominally by 0.2%
• Globally, car sales grew by almost 9% in the first three quarters of 2023

Production​

• Over nine million cars were produced in the EU in the first three quarters of 2023, a 14% increase from the same period in 2022
• The US produced almost six million cars, growing by 11.2
• China produced 17.5 million cars in the first three quarters, growing at a slower pace of 4.7% compared to other major car-producing regions
• Japan produced 5.6 million cars in the first three quarters, an 18.5% growth

Trade​

• EU car trade recorded a €70 million trade surplus in the first three quarters of 2023, a 4.7% increase
• China was the top importer of EU-made cars both in volume and value terms, growing by an impressive 58.1%, representing 17.2% of the market
• The US and UK car import markets grew by an impressive 62.4% and 33.2%, respectively
• In the first three quarters of 2023, the export value of EU-made cars to the UK and the US increased by 28.1% and 16%, respectively – in China, the export value retracted by almost 18%

 

[k1976]

https://www.autonews.com/finance-insurance/edmunds-fewer-trade-ins-underwater-car-loan-more-owed

 

[k1976]

Under 40 and Underwater? Some Adults Are Falling Behind On Car Loans and Credit Card Debt​

https://www.investopedia.com/under-...ind-on-car-loans-and-credit-card-debt-8391691


By
DICCON HYATT

Published November 07, 2023

Eva-Katalin/Getty Images

KEY TAKEAWAYS​

• Those younger than 40 are becoming delinquent on their credit card debt at a rate last seen before the pandemic.
• Inflation, higher interest rates, lower wage increases and the resumption of student loans has put pressure on younger debt holders' budgets.
• Delinquency levels for older people and mortgages held by those of all ages also rose, but did not reach its pre-pandemic levels.

If you’re younger than 40, you’re increasingly likely to be underwater on consumer debt.

More and more people are falling behind on their credit card and car loans, especially people in their twenties and thirties, data from the Federal Reserve Bank of New York showed Tuesday.1 The portion of newly and severely delinquent credit cards held by people under 40 has been steadily rising from the record lows it hit during the pandemic and blew past pre-pandemic levels in the third quarter of 2023.

 

[syed putra]

Sinkies live with this negative equity car scenario for decades. It does not seem to Bother anyone.

 

[winners]

Sinkies to the rescue. Sinkies can even afford to pay S$130k for a piece of paper called COE, what then is negative equity?

 

[syed putra]

Sinkies to the rescue. Sinkies can even afford to pay S$130k for a piece of paper called COE, what then is negative equity?

Plus taxes the double or more car prices.