Experian: The Percentage of EV Financing Doubled Year-Over-Year
Alternative fuel vehicles now represent nearly 16% of new vehicle financing; banks originated more than 55% of new alternative fuel vehicle loans.
February 24, 2022
Alternative fuel vehicles now represent nearly 16% of new vehicle financing; banks originated more than 55% of new alternative fuel vehicle loans.
February 24, 2022
Tesla’s Model Y could overtake BMW as the top-selling luxury model when its plant opens in Texas.
February 15, 2022
Overall, the data shows encouraging signs for the automotive finance market.
October 12, 2021
Inventory shortages continue to push average loan amounts and monthly payments for used vehicles higher.
August 23, 2021
New Experian services support employers, human resources, corporate tax and payroll professionals while improving experiences for consumers and lenders.
May 25, 2021
Overall, the automotive finance market has remained resilient, despite the pandemic. Staying close to the data will help lenders ensure they have the right options available to fit consumers’ needs and budgets.
April 20, 2021
Incorporating vehicle history reports into the lending decisions can help uncover hidden issues with the vehicle and adjust loan terms accordingly.
March 18, 2021
As we look at the market in Q3, there were a number of notable statistics that can help lenders identify trends and inform strategy.
January 20, 2021
Despite smaller percentage of financed vehicles, outstanding loan balances grew 2.8% year-over-year to more than $1.2 trillion.
December 3, 2020
The average loan amount for a new vehicle jumps $4,000; however, the average monthly payment remains steady.
September 3, 2020
April data sheds light into how the industry was impacted during the early stages of COVID-19.
June 9, 2020
Experian analysts say buyers of pre-owned vehicles accounted for 55.15% of all U.S. auto loan originations in the third quarter, a 2.4% year-over-year increase.
December 6, 2019
The Experian Automotive Intelligence Engine was designed to offer auto dealers new data and analytical capabilities designed to find in-market car buyers within a 15-mile radius.
October 3, 2019
Experian’s Q2 auto finance report consumers continue to uncover ways to manage monthly payments. For a record percentage of prime borrowers, that meant passing on a $32,000-plus new-vehicle loan in favor of a pre-owned unit.
September 5, 2019
Experian’s Ascend platform now includes a loan portfolio modeling tool built in collaboration with Oliver Wyman and designed to help finance sources comply with new current expected credit loss standards.
August 7, 2019
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