And more contagion....

Discussion in 'Wall St. News' started by Comanche, Sep 17, 2007.

  1. 03:40 PM CDT on Monday, September 17, 2007

    By Rucks Russell / 11 News

    Car sales may be crumbling beneath the weight of the nation’s credit crunch.

    The toll this is taking on consumers and how some are finding help
    11 News has learned the industry is the latest victim in a crisis that has already devastated the housing market.

    According to figures released this week by the National Automotive Finance Association, sub prime lenders are experiencing a surge in the numbers of delinquent car loans.

    In Houston, some car dealers tell 11 News they’re having a tough time securing financing for customers.

    “It’s really slowing our sales down”, according to one salesman at a lot on North Shephard Drive.