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Subprime Auto Securitizations Show Signs Of Cracking As Delinquencies Rise

It will come as no surprise to our readers that sales of automobiles in the U.S. have bubbled over in recent years and stood at a SAAR of 17.7mm units at the end of September. To put that number in context, a 15-year useful life would imply that's more than 1 car for every driving age person in the United States. Obviously that's likely not sustainable which is probably why Ford executives admitted on a recent conference call that U.
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