Credit Card and Auto Loan Delinquencies Surge on Back of Bidenflation
U.S. consumer spending has continued to fuel the economy at an unexpected rate over the past year. On the dark side, delinquencies on credit cards and auto loans are skyrocketing. “New delinquencies are particularly bad for both auto loans and credit cards, with transition rates exceeding pre-pandemic levels,” the New York Fed said. Said In […]
Biden tells auto workers ‘we don’t taste that good’ before facing Gaza hecklers in Michigan
President Biden told autoworkers union workers in Michigan on Thursday that Americans “don’t taste very good” in a bizarre aside, hours later jeering anti-Israel hecklers in the critical battleground state. I was blown away. “Remember when they told us we were dead? American manufacturing was over and China was going to eat our lunch?” Biden […]
Without Tariffs, China Will ‘Demolish’ American Auto Industry
Tesla CEO Elon Musk said the U.S. auto industry would be decimated if the U.S. didn't impose heavy tariffs on China. According to CNBC, Musk made the remarks during Tesla's earnings call this week, saying that without U.S. tariffs on China, Chinese automakers like BYD and Nio would “nearly wipe out” U.S. automakers. suggested. “Chinese […]
United Auto Workers endorses Biden ahead of likely rematch with Trump
The United Auto Workers (UAW) endorsed President Biden on Wednesday, boosting his campaign's focus on the November election. UAW President Sean Fein introduced Biden's speech at the conference in Washington, D.C., and expressed support for the union, citing the president's recent solidarity with strikes against major automakers. “He heard the call and got up and […]
Republican #Resistance Comes to Electric Vehicles at the D.C. Auto Show
Corporate exhibitions are usually polished but solid. Companies spend a lot of money on lighting, staging, and all sorts of beautification to make their shows polished, but also solid. A little dull. Companies don't want controversy. Angry words create unpredictable headlines and take focus away from your product. Therefore, the goal is a smooth “frictionless” […]
Auto insurance premiums rise as car thefts and false insurance claims increase
Theft, false insurance claims, and inflation all lead to higher auto insurance premiums. Auto insurance premiums continue to rise and the increase in auto theft is not helping matters.of National Insurance Crime Bureau (NICB) report The number of thefts in 2023 increased by 2% compared to the first half of 2022. More than 1 million […]
Treasury: Nearly 9,000 auto dealers have registered for electric vehicle tax credit
More than 1,000 more car dealers have signed up for the scheme since the electric vehicle tax credit became available on January 1, the Treasury confirmed Friday morning. Treasury officials told reporters that more than 8,700 dealers had registered for credit as of Friday, up from the 7,400 announced in late December. Changes to the […]