Subprime Auto Loans

Here's a quick note from Friday's Wall Street Journal

'There are now more auto loans (in number) than mortgages'

A somewhat distant family friend works for Credit Acceptance Corp - CACC - a sub prime auto lender.  I remember this only because he kept bringing up the concept of management wanting to 'get the stock price to 1000'  You can imagine how this is going to end.

I'd lost track of the stock, but clearly shares are suggesting turbulence(at least).  The relative weakness is really standing out.  Add this to your list of signs of a weakening consumer.

Thanks for reading!