Our partners at Cox Automotive have released a November 2020 Industry Update. View/Download by clicking the image.
Highlights include:
- October total new vehicle sales were up 0.9% year-over-year with one more selling day compared to October 2019. With those volumes, the October seasonally adjusted annual rate (SAAR) was 16.2 million, a 4% decrease from last year’s 16.8 million and a slight decline from September’s 16.3 million.
- For the full year, an estimated 2.1 million auto loans defaulted in 2019. Through October this year, an estimated 1.35 million loans have defaulted. In October, 1.28% of auto loans were severely delinquent, which was an increase from 1.26% in September. 4.64% of subprime loans were severely delinquent, which was an increase from 4.54%. 60-day delinquencies have increased in each of the last 3 months.
