Figures suggest that more and more Americans are becoming unable to pay for the cars that they continue to drive. Among 18-29-year-olds, the ninety-day past-due delinquencies are at the highest level since 2008 during the awful financial recession. However, the delinquency figures are extremely high across nearly ever any group.
Economists may take the number of car sales at face value and suggest that America’s economy is slowly recovering. Yet, a deeper analysis shows that these purchases are merely indicative of an America in which citizens are unable to afford the possessions they want.
Industry leaders are warning that there could soon be a slowing down in sales as a variety of factors spread and affect the rate in which consumers purchase cars. For example, the fake-diesel-testing of 2018 has caused many consumers to reject purchasing new diesel models. Plus, with the rise in prevalence of a caution surrounding human’s effects on the earth, many are waiting for more eco-friendly models to be released. Similarly, the popularity of ride-sharing apps like Uber may further encourage Americans to forego purchasing a car.
