This video supports what I've read/heard lately re: auto sales and credit availability. As credit is MUCH more expensive and less available today the auto companies are going to get PUMMELLED in the next few months.
Declining sales = worse capacity utilization and greater losses.
I've heard Subprime approval rates used to be 60% acceptance and now it is 20%. Prime approval rates were 80% and are now approaching 60%.
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