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
Experian’s "State of the Automotive Finance Market: Q3 2021" report finds delinquencies remain lower than pre-pandemic levels.
December 2, 2021
Affordability remains a concern despite finance sources continuing to tighten underwriting standards, according to the firm. Consumers, however, seem unfazed, with outstanding balances climbing to a new record high.
August 30, 2018
The dream of owning a new vehicle is becoming more elusive for the average American consumer, with the average amount financed and monthly payment for a new vehicle climbing to record highs of $31,455 and $523, respectively.
May 31, 2018
Subprime financing fell to its lowest point since 2012, while prime grabbed the lion’s share of the auto finance space in the third quarter. Even the used-vehicle market has gone prime, with buyers outside of prime accounting for just a third of the market.
December 7, 2017
Sentiment speaks to recent auto finance data showing prime and superprime car buyers shifting toward used, where the average monthly payment was $139 less than the record $504 average monthly payment for new in the second quarter.
September 22, 2017
The firm today reported that average amounts financed for new and used reached record highs of $30,621 and $19,329, respectively. Total balances also reached a record high, although Experian observed a slowing in year-over-year growth.
March 2, 2017
The information services firm announced that John DeMarco has joined the company as senior vice president of automotive sales. He brings 27 years of leadership experience, having held a number of senior leadership roles at firms like CDK Global and Ford Motor Co.
January 30, 2017
Representatives from the three major credit bureaus opened the 21st annual Vehicle Finance Conference and Exposition by confirming that there is no forming subprime bubble. They explained why and how millennials are contributing to a healthy auto finance market.
January 24, 2017
Leasing isn’t slowing down. In fact, it’s spreading to the pre-owned market. Dealership expert breaks down the keys to making leasing a viable option for showroom customers.
December 5, 2016
Lease balances also skyrocketed in 2016's opening quarter, while subprime loan volumes showed double-digit growth. Delinquencies, however, remained in check, the firm reported.
May 19, 2016
The amount of cars being leased has grown by 76% since 2008, according to an Experian Automotive study. By the end of 2016, 1.8 million off-lease vehicles will return to the market, the firm says.
April 5, 2016
With new-vehicle loan amounts and monthly payments rising to record highs during the fourth quarter, leasing’s share of the market grew to record levels. Data from Experian Automotive also showed that more consumers turned to the used-vehicle market in the end-of-year period.
March 3, 2016
Outstanding auto loan balances totaled $987 billion in the fourth quarter 2015, up 11.5% from the year-ago period and the highest level since Experian Automotive began publicly tracking the data in 2006.
February 9, 2016
Between October 2014 and September 2015, consumers returned to Subaru and Ford more than any other OEM brand, according Experian Automotive.
January 5, 2016
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