According to The Kobeissi Letter, US auto repossessions have increased by 16% in 2024, reaching 1.73 million, the highest since 2009. Over the past three years, vehicle seizures surged by 600,000 or 53%. This trend correlates with a sharp rise in consumer auto delinquencies, impacting the auto loan market significantly.

According to The Kobeissi Letter, US auto repossessions increased by 16% in 2024, reaching 1.73 million, marking the highest level since 2009. Over the past three years, vehicle seizures have jumped by 600,000 or 53%, coinciding with a sharp rise in auto loan delinquencies. This trend could impact the market dynamics for auto-related financial instruments and requires close attention from traders.