Automobile Loan Delinquency Rates, 2003 - Present

 

Here are two useful U.S. auto-loan delinquency series. They measure different things, so don’t compare their percentages directly.

Balances at least 90 days delinquent — share of outstanding auto-loan balances, quarterly and not seasonally adjusted. The New York Fed series runs from 2003; selected points show the crisis-era peak and the subsequent rise. ¹

Quarter	Delinquent balances
Q1 2003	2.33%
Q4 2007	3.05%
Q4 2010	5.27%
Q4 2012	4.03%
Q4 2015	3.37%
Q4 2019	4.94%
Q4 2021	3.98%
Q4 2023	4.17%
Q4 2024	4.83%
Q4 2025	5.21%
Q2 2026	5.49%

The 90-day rate reached 5.27% in Q4 2010; the reported Q2 2026 value is 5.49%. ¹

Balances at least 30 days past due, excluding severe derogatory loans — seasonally adjusted New York Fed/Equifax series. ²

Quarter	Delinquency rate
Q1 2000	3.27%
Q1 2009	4.57%
Q3 2012	2.72%
Q4 2017	3.03%
Q4 2019	2.99%
Q2 2020	2.35%
Q2 2021	2.22%
Q4 2022	3.24%
Q4 2023	3.62%
Q2 2024	3.81%

[1]

That 30-day rate fell sharply in 2020–21, then climbed through the latest observation in the Federal Reserve’s 2024 data. ²

These are balance-based rates—not the share of borrowers who missed a payment or the number of repossessions. For longer history and methodology, the New York Fed Consumer Credit Panel/Equifax series is the key source; the 30-day series’ published table here ends at Q2 2024, while the 90-day series runs through Q2 2026. ^{2 1}

• [2]
  https://www.federalreserve.gov/econres/notes/feds-notes/rising-auto-loan-delinquencies-and-high-monthly-payments-accessible-20240926.htm

Cars at the Crossroads: Masters and Slaves of the Technologies we use?

 

I took this photograph last evening at dusk near Tappan Square in Oberlin, Ohio. There is nothing particularly special about this photo, neither in terms of the cars nor the place. Just a few moments before I snapped the shutter, I was shocked to have a 1964 Studebaker Lark pass by. But before I could react it was gone.

Even in a small town in the Midwest technology sets a pace of life that we simply can't escape, even as the sun sets after a nice, warm day.  The automobile shapes our spaces and lights the way. To what degree does it determine our lives, and how will we respond to impersonal forces that it undoubtedly creates? When are we masters of the technology around us and when are we, their slaves?

2026 Singapore F! Grand Prix Results

 

A hard-fought Sunday in Singapore gives Kimi a podium finish and George a points finish

• Kimi Antonelli finished third at the Singapore Grand Prix on Sunday, George Russell placed ninth after a hard-fought race.
• In a race that was characterised by different strategies throughout the field, both cars had to make up positions in the closing stages.
• Kimi managed to catch up with McLaren driver Lando Norris and Ferrari driver Lewis Hamilton. He had relinquished his position during a virtual safety car period to switch to a fresh set of soft tyres – the preferred compound that evening.
• With third place, Kimi secured his 14th podium finish of the season and extended his lead in the World Championship.
• For George, this race was all about limiting the damage. He had started from 19th place due to a grid penalty for exceeding the permitted number of power unit components.
• He made good progress in his first stint on the medium compound before switching to the soft tyres to attack the cars in front of him.
• He successfully overtook Pierre Gasly's Alpine, but was unable to get ahead of Nico Hülkenberg's Audi due to the great difficulties in overtaking and had to settle for ninth place.

Driver	Launch site	Result	Schn. Runde	Starting Tyres	Stop 1	Stop 2
Kimi Antonelli	P4	P3	1:35.589	Soft	Medium (R23)	Soft (R39)
George Russell	P19	P9	1:36.722	Medium	Soft (R39)	-

Kimi Antonelli

It was a tough race today and I'm very happy to have finished it with a podium finish. We knew that overtaking would be difficult, so we did some things a little differently in terms of strategy. Although we had to give up our position to Lando Norris in the McLaren, we knew that we would be on the better soft tyres. Our goal was to catch both him and Lewis Hamilton. I managed to capitalize on the duel between the two, overtake them both and secure third place. After a few difficult race weekends, this is a fantastic result for the team.

We've made really good progress with our update package this weekend. It has proven to be a very useful experiment and has shown us a good direction to get the maximum out of it. Of course, this was a sprint weekend, and after a difficult Friday, there was only so much we could do. So it wasn't like we had the car in the perfect window today. This gives us confidence that we can make further improvements in Austin and fully exploit the potential of the car.

George Russell

In my first stint I was able to make good progress and work my way up to the edge of the top 10. We took the opportunity to pit when the virtual safety car was called, but unfortunately we couldn't take full advantage of it as it ended just as I entered the pit lane. Unfortunately, this kind of bad luck sums up my season pretty well! We fought the soft tyres, but Nico (Hulkenberg) defended eighth place well against me.

We knew it was going to be a difficult race tonight, given our starting position and the fact that overtaking is a big challenge here. To get back into the points was a decent result, but of course it was a disappointing weekend for me here in Singapore. We will now regroup ahead of Austin and the last six races of the year. We've gathered a lot of useful data about the update package and hopefully we can build on it in the final stages of the season.

Toto Wolff, Team Principal and Managing Director

We knew it was going to be a difficult race tonight as our cars started from 4th and 19th place. Overtaking is notoriously difficult here in Singapore, and the race was therefore driven by strategic decisions. We had given both drivers the task of making overtaking manoeuvres on the track in order to make up positions in the closing stages, and fortunately they succeeded. Kimi had the pace to secure the final podium spot, overtaking both a McLaren and a Ferrari to do so, while George showed some great manoeuvres throughout the race. He fought his way up to ninth place, where his advance stalled, but it was still a good performance. Kimi's third place and George's valuable points haul is a good result in a Grand Prix that we knew was about limiting the damage.

We spent this weekend comparing the update package to the previous specification, and that was a useful experiment. Up until yesterday's qualifying, and as we saw in today's race, we managed to get the update package to work much better and we were able to see a little more of its potential. It's undoubtedly a bit trickier to find the right setup window, but the car clearly has its strengths and we need to build on that in the future.

Andrew Shovlin, Trackside Engineering Director

We leave Singapore with a podium finish for Kimi and a points finish for George. That's a solid result – especially considering the positions from which we started the race. We knew that overtaking would be difficult. Therefore, our chances were in strategy and in making the most of the performance of the tyres in the closing stages. Kimi drove a mature race, handled his tyres well and then had the pace to make the crucial manoeuvres that secured him the podium finish. George's race was a challenge from the start, as he had to start from the back. But he fought hard the whole time, showed some brilliant overtaking manoeuvres and made it back into the points.

One of the main goals this weekend was to continue evaluating the update package and deepen our understanding of how to get the most out of it. We learned a lot over the three days and, most importantly, we saw encouraging signs in both qualifying and race conditions once we were able to get closer to the right window of operation. At the end of the weekend, Kimi's package was clearly the faster one, which gives us confidence that we are on the right track from a development perspective. There is still some work to be done, but the data collected will help us a lot in preparing for Austin. We now have a clearer idea of where the performance is and what we need to focus on in order to exploit the potential of the package even better in the final races of the season.

Preview, Mercedes-Benz F1 Singapore, 2026

 

Toto Talks Singapore

Malaysia was obviously a very difficult weekend for us. We have spent the days since then working hard to understand why our performance was not where it should have been. We have identified several areas we need to investigate further, but F1 doesn't offer simple answers and we need more evidence before drawing firm conclusions.

Singapore gives us an immediate opportunity to continue that work. The characteristics of the circuit are very different and that will help us build a clearer picture of where we are. That is why we will evaluate both the latest update package and our previous specification across the weekend to ensure we fully understand the direction we need to take.

George has the added challenge of a power unit penalty, which will mean starting from the back of the grid on Sunday, following the engine failure in Malaysia. That is particularly frustrating given the way he drove last weekend and the result he deserved to be fighting for. Unfortunately, these things are part of the sport and our focus now is on giving him the best possible car and opportunities to fight back through the field. We need to maximize this final Sprint weekend of the year, keep learning, and score the strongest result we can with both cars. Singapore will be an important test of our understanding and our resilience as a team.

Third Driver Insight

Singapore is one of those circuits that really makes you feel alive as a driver. In qualifying, you have to put absolutely everything on the line. It's a place that has produced some incredible laps over the years, laps where a driver was able to make a genuine difference. 

That's something you don't often see in F1. George's victory there in 2025 was one of the standout moments of the season because it's such a difficult track to master and getting everything right across a race weekend is a huge challenge.

The circuit demands total concentration and patience, similar to tracks like Monaco and Baku. You're constantly moving from left to right between the walls, and even the smallest mistake can end your race. At the same time, that's exactly what drivers love about it. You're always trying to find that extra bit of performance and push the limits as far as you can, which makes it one of the most exciting challenges on the calendar.

Physically, it's also one of the toughest races of the year. Racing at night, dealing with the heat and humidity, and completing so many laps around such a demanding circuit takes a lot out of you. Safety Cars can make the race feel even longer, so if you're leading, it can sometimes feel like it will never end. It's a real test of both physical and mental endurance.

Did you know?

• For the first time, the Singapore Grand Prix will host an F1 Sprint weekend. 
• The Singapore Grand Prix first appeared on the F1 calendar in 2008 and is known as the original "F1 night race".
• The Singapore Grand prix is one of the most physically demanding races of the season. The intense humidity, warm temperatures, combined with the stop/start nature of the track, make it very challenging.
• Due to these factors, drivers can lose up to 5kg of weight during the race through sweating alone.
• Last year's Singapore Grand Prix saw George Russell score his first win in the streets of Marina Bay. This marked the fifth win of the team in Singapore ('14, '16, '17, '18, '25).
• With 5 victories, Mercedes is the most successful team at this track.

2026 Bahrain F1 Grand Prix in Malaysia - Sunday Results -- Mercedes-Benz

Formula One - Mercedes-AMG PETRONAS F1 Team, 2026 Bahrain GP in Malaysia. Kimi Antonelli

 Toughest Sunday of the Season in Malaysia 

• Kimi Antonelli came home second with George Russell unfortunately failing to finish after a suspected power unit issue in Sunday’s Bahrain Grand Prix in Malaysia.  
• After a delayed start due to heavy rain, and then a subsequent aborted start sequence as several cars faced issues on the formation lap, the race finally got underway in mixed conditions.
• Both Kimi and George started on the Intermediate tyre, whilst several other cars opted for a slick tyre start.
• The Inter proved the correct choice and after both our drivers made lightning starts, they vaulted into first and second.
• After a lap 9 Safety Car afforded both cars the chance to take the Medium compound as the track dried, it became clear that we didn’t have the pace to challenge the Red Bull of Max Verstappen for victory.
• Despite that, Kimi and George ran relatively untroubled in P2 and P3 and looked on course to secure a double podium.
• However, George suffered a suspected power unit issue which forced his retirement just five laps from the end.
• Kimi held on to P2 at the flag after a tough weekend for the team.
• Our lead in the Constructors’ Championship has been trimmed to 151 points as we head to Singapore and the final race in this triple-header 

Driver	Grid	Result	Fastest Lap	Start Tyre	Stop One	Stop Two	Stop Three
Kimi Antonelli	P3	P2	1:38.589	Intermediate	Medium (L9)	Soft (L33)	Soft (L44)
George Russell	P7	DNF	1:40.715	Intermediate	Medium (L9)	Soft (L32)	Soft (L44)

Kimi Antonelli

Overall, given our struggles this weekend, I think P2 was the maximum we could have achieved today. The conditions were really challenging, both with the difficult call on which tyre to start on, when to stop to take the slicks, and then when to stop and what compound to take to ensure we held on to second. The team did a good job with those calls, and I am pleased we were able to score solid points. 

Despite that, we leave Malaysia frustrated. Our pace hasn’t been where we wanted it to be and we weren’t able to fight for victory. It was also extremely disappointing to see George retire when we were so close to such a good result for the team, and a double podium at what is one of the most significant races in our season. We will work hard ahead of Singapore to understand how we can improve and make sure we perform more strongly next weekend.

George Russell

That was another tough and disappointing day for me amongst several we have had this season. It is pure bad luck, but it still hurts. It is particularly tough as we were on for a podium and a great result for the team. I made a great start on the Intermediate but struggled a little once we moved to the Medium tyre. I felt much better once we were on the Soft compound and, whilst we were never in the fight for the win, our pace was good.

It’s such a shame to retire from the race when we were looking comfortable in P3. It would have been important points in the Constructors’ for the team and a double podium would have been a lovely reward for our Title and Technical Partner PETRONAS as their home race. 

It’s not been an easy weekend, but our race pace was better than our qualifying performance on Saturday. That is encouraging but we will work hard as a team to understand why we have underperformed overall here in Malaysia and how we can make sure we are stronger in Singapore. It has been a tough season on my side of the garage, but we will keep fighting. 

Toto Wolff, Team Principal & CEO

This has been our worst weekend of the season. It hurts, and I feel incredibly sorry for George and everyone in the team. George drove an outstanding race and was on course for a very strong result, but we let him down. The reality is that has happened too often this year, and that is not acceptable.

We were not quick enough, and we were not reliable enough in Malaysia. That is the truth. Both drivers kept fighting, stayed focused, and got everything out of the car that was possible though. Whilst George lost out through no fault of his own, Kimi did a very good job and deserved his podium.

Now we need to understand exactly what happened this weekend. We underperformed compared to our nearest competitors and our form in recent races. We will do so with our usual focus, by working diligently and being led by the data. We don't have many days before we are on track again, but we are determined to put on a better showing next week in Singapore.

Andrew Shovlin, Trackside Engineering Director

Today was a difficult race to manage, particularly in the opening stages when we had to make several important decisions around tyre choice and crossover points as the conditions evolved. The team made good calls throughout the afternoon and we were able to maximise Kimi's race, bringing home a well-deserved podium. He drove a mature and controlled race and extracted everything that was available to him.

For George, it's incredibly frustrating. He was driving a strong race, managing the conditions well, and looked on course for a comfortable podium before his retirement. Losing a result like that at any race is painful, but especially when he has suffered so much bad luck so far this season.

Whilst there are positives we can take from today's race execution, we weren’t quick enough to fight for the win. We have a lot of data to review and very little time before we are back on track in Singapore. Our focus now is on understanding the factors that have contributed to this weekend's performance and identifying where we can improve. Singapore presents a very different challenge, and our job over the next few days is to make sure we arrive there better prepared and in a position to be more competitive.
 

Tomorrow’s 2026 Bahrain Grand Prix in Malaysia. Update from Mercedes-Benz

 

Toughest Qualifying of the Season in Malaysia

• Kimi Antonelli qualified fourth, and will start third, with team-mate George Russell eighth and starting seventh, for tomorrow’s Bahrain Grand Prix in Malaysia.
• After a Friday where it was tricky to get a true performance read, the team ended practice on the front foot this morning with Kimi topping the times in FP3 with George in P4.
• Despite facing relatively similar conditions come qualifying, the team couldn’t match that performance when it mattered later in the day though.
• Whilst finding themselves in the picture near the front, neither Kimi nor George threatened to take pole position with the Red Bull’s being particularly fast.
• Kimi was forced to use an extra set of Soft tires in Q2 after a track limits violation saw his initial time deleted; his one and only effort in Q3 put him P4 which will become P3 by virtue of Isack Hadjar’s engine penalty.
• George meanwhile used two sets of Soft tyre in Q3 and his final effort put him P8; he gains one starting position due to the Red Bull’s penalty.

Driver	FP3	Q1		Q2		Q3
Kimi Antonelli	P1	3 Laps	P6	6 Laps	P2	3 Laps	P4
		1:37.041	Soft	1:35.959	Soft, Soft	1:35.631	Soft
George Russell	P4	3 Laps	P11	3 Laps	P8	6 Laps	P8
		1:37.264	Soft	1:36.245	Soft	1:35.871	Soft, Soft

Kimi Antonelli

We were strong in FP3, so it was a shame that we dropped back in terms of competitiveness come qualifying. It is a unique circuit here with a very aggressive tarmac and in incredibly hot conditions; that makes it difficult to deliver the same performance consistently. We will go around the loop tonight to see what we could have done differently and to make sure we understand exactly where we went wrong. 

I put myself under quite a lot of pressure with only one new set of Soft tires in Q3 but I did what I could. If we had a second set, I think we could have fought for the front-row, but I don’t think we could have challenged Max (Verstappen) for pole. He has looked like the quickest car all weekend and so it proved today. 

P3 is not a bad place to be starting from all things considered. The tire degradation is likely to be very high and, in all probability, it will be a multi-stop race. That will hopefully open up opportunities for us if we have good race pace. There is still the possibility of rain too which could make things even more exciting so I’m looking forward to tomorrow.

George Russell

We’ve struggled today and that is reflected by what was our toughest Saturday of the year. It is so hot here and the tarmac is very aggressive, with the low grip making lap times several seconds slower than when we last raced here in 2017. That may have impacted our performance comparatively to what we have seen at other circuits, but it is true to say that we have clearly suffered more than our closest competitors this weekend. We didn’t expect to struggle this much here in Malaysia, and we will work hard to understand why.

Whilst we are frustrated by our performance today, tomorrow will be a very different challenge. The race is likely to be dominated by high tire degradation and keeping the tyres in good shape across a full stint will be the key to a good Grand Prix. Whilst we have ground to make up, we know it should be possible to overtake if you have the speed so we will be giving it our all to make up ground.

Toto Wolff, CEO & Team Principal

That was our toughest Saturday of the season, and we need to dig deep to understand exactly why that was. We have plenty to analyze from the two days of running here in Sepang to get to the heart of why we have struggled so much. There are many factors we will need to take into consideration, and we can’t rule anything out at this stage. 

Tomorrow is another day. With the levels of degradation we saw in practice, we are heading a little bit into the unknown in terms of both race pace and strategy. It will likely be a Grand Prix where we see multiple stops for each car and that could provide opportunities. Equally, we know that our race pace on Friday wasn’t the strongest, so we hope the changes we have made to the car since then have helped with that, even if they didn’t benefit us on our single laps today.

Andrew Shovlin, Trackside Engineering Director

Today was clearly a disappointing result relative to our expectations coming into the weekend. We showed encouraging pace in FP3, but couldn’t extract the same performance when we needed come qualifying. We will spend time this evening, and in the coming days, analysing the data to understand why we fell away compared to our competitors and what lessons we can take forward. 

The focus now turns to tomorrow. This circuit is placing huge demands on the tires and degradation is expected to be very high, which means strategy, tire management and operational execution will all be critical. Whilst we would have preferred to be starting further forward, both drivers are in positions where they can fight for solid results. With a race that looks likely to feature multiple pit stops and plenty of strategic variation, there will be opportunities to make progress if we have decent pace.