Termites start low and work their way up. By the time you notice them, it’s often already too late to save the place. All you can do is rebuild, start over.
This analogy may be useful in terms of understanding what’s going on in the car business… on the lower end of that business. And what that could portend for the rest of the business – ostensibly “doing gangbusters,” according to mainstream media accounts.
You know … like the housing market was “doing gangbusters” a few years back.
Until, of course, it wasn’t.
Well, check this:
The number of “subprime” car loans being sold is increasing – and so is the number ofdelinquencies on those loans. They are up to 5.16 percent, the highest level in 20 years.
Consider what this means.
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