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
Experian’s latest report also highlights geographic trends in automotive finance.
May 27, 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
The new platform gives users of Pearl’s VehicleXchange incentive-based marketing solution the ability to know which consumers are new or pre-owned buyers, and can target by propensity, APR, payment amount, term and credit score, and more.
October 31, 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
String’s marketing intelligence platform will be matched with Experian’s own data-driven insights. The combination will direct dealers on how to spend marketing dollars and where to target their conquesting efforts, officials said.
May 25, 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
An Experian analysis found that out of all auto brands that sell in the United States, Jeep had the highest percentage of vehicles built domestically. According to the analysis, 96.7% of Jeeps on U.S. roads were assembled in the country.
June 28, 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
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