But auto sales had already dropped three years in a row — before Covid.
The “bare bones” petition is a sign that “something was about to happen.” Pressure piles on the used-vehicle wholesale market.
Here come the “bankruptcy-remote special-purpose subsidiaries” and $14.5 billion in rental-vehicle-backed securities. The stock market – other than Carl Icahn – smelled a rat for years.
Now at least, price discovery can take place amid a more ample flow of vehicles. But the entire industry dreads a Hertz bankruptcy could cause lenders to liquidate its fleet.
With 30 Million Unemployed, Even Prime Loans Will Get Messy
No one has ever seen a mess like this before.
When the unemployment crisis exploded onto the scene three weeks ago, sales totally collapsed. What’s in store for the industry?
You’ve got to admire Musk for snookering true believers into buying $2 billion of new shares a month ago that are now down 52%.
The coronavirus is just the latest in a long series of issues successfully brushed off as irrelevant because all that mattered was that stocks went up.
Market share of EVs reaches 5.3%. The registrations data is out in all its glorious detail.