Why The US Auto Boom Is Now In The Rearview Mirror

I agree with the Bloomberg writers’ arguments, but I also wanted to point out that U.S. auto sales have been bolstered by a bubble in auto loans, which is a byproduct of the ultra-low interest rate environment of the past decade. Since 2010, total outstanding U.S. auto loans increased by $445 billion or 64% to over $1.1 trillion.