Cathie Wood Issues "Serious Losses" in Automobile Debt Warning

After figures revealed a decline in US used car prices in September, Cathie Wood warned of the possibility of "severe losses" in the trillion-dollar auto debt industry.

According to a tweet that referenced information released by Manheim Auctions.

he world's largest seller of used cars, the founder and chief executive officer of Ark Investment Management LLC cited a shift in consumer preference toward electric cars.

The US Used Vehicle Value Index published by that group showed a 3% decrease from August.

Wood's message comes after a warning about growing dangers for US car debt in a tweet from last month.

According to newly revealed quarterly data, vehicle loans reached a record high of about $1.4 trillion as of June 30.


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