The automotive financing market may be under stress as several experts call for a massive wave of repossessions in early 2023, with prominent figures such as Tesla founder Elon Musk and Ark Invest’s Cathie Wood sounding the alarm about the potential effects on financial markets.
“Potentially the biggest financial crisis ever,” Musk posted on Twitter on Dec. 16 in response to a tweet by Wood and a series of tweets from the CEO of a car dealer group about the potential auto loan crisis.
