Auto Sales Strong, but Georgia Among Worst in Car Loan Delinquencies
(AJC) — Shoppers returned to car lots to buy in 2010, a sign of economic optimism. That optimism has continued with sales for many brands far outpacing the growth seen last year, after a dreadful 2008 and 2009. But data released last month show not all automotive news in Georgia is good. Georgia had the fourth-highest rate of delinquency on car loans in the country in the fourth quarter of 2010, according to credit reporting agency TransUnion. Sales of new vehicles are substantially better, but even as some consumers gain confidence in their personal finances, or see now as a time to get good deals, others remain financially stressed. It’s a mixed picture that in some ways encapsulates the broader Georgia economy, said Dorsey Farr, a partner and economist with French Wolf & Farr, a Buckhead-based investment management firm.