...take note, auto macros are worsening in US and will only get worse.
....Watch what the auto and lithium industry players have been doing, Tesla insiders selling out of their stock in a hurry.
BREAKING: Auto loan serious delinquency rates surged to 2.8% in Q1 2024, the highest level since 2010.
90+ day delinquencies have been rising a pace last seen during the 2008 financial crisis.
Auto loans held by US households jumped by $9 billion in Q1 to $1.62 trillion, an all time high.
This means $45 BILLION of consumers' auto loans are on the brink of default.
Meanwhile, car insurance inflation jumped to 22.6% in April, the largest one-year increase since the 1970s’.
US households are missing loan payments as if a recession is here.
