Failure of auto loans to provide the expected push to consumer credit has led to vehicle sales falling to the lowest it has fallen in the past seven years. The total fall in the value of auto loans and other such loans obtained by the consumer fell by more than five and a half billion dollars. The primary reason for fall in demand for auto loan and the subsequent decline in auto sales is that the consumer is beginning to feel the pinch of uncontrolled borrowings. The demand for auto loans is not expected to rise soon.
December 29, 2005
Auto loans figures plummet due to low demand
