The Current State of the Car Market

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The car market has long been the canary in the coalmine for the direction of the overall economy.
For a growing number of people who have been permanently priced out of the housing market, a car will be the most expensive purchase they ever make and the WAY they are making those purchases is revealing a lot about the direction of our economy.
Big debts, big defaults and big shakeups have become commonplace and a unique combination of circumstances have pushed the entire industry between a rock and a hard place.
People's finances are clearly being stretched, a record number of loans are now delinquent and a lot of people simply can’t squeeze their finances to get into a new car even with all of the (borderline) predatory financing options that have become available.
Car companies have responded to this clear trend… by offering even more expensive cars packed with features that a lot of customers are actually trying to avoid.
The absolute state of the car market would almost be comical, if it wasn’t such an alarming indication of other problems under the proverbial hood.