The lending CUSO reports sales will hit a record 17.4 million in 2015 but just 17.6 million in 2016.
Demand for new cars and light trucks pushed auto loan originations to $69.6 billion in January and February, most since 2009.
Interest rates may not be as important as response to potential borrower. (Check out the graphic at the bottom!)
Vehicle loan portfolio expansion continues to be the driving force behind credit union loan growth, CUNA Mutual Group says.
Three months after Hurricane Sandy’s destruction slammed several states, the storm may have contributed to a jump in loans for new cars at credit unions.
Analysis from CUNA Mutual Group’s October Credit Union Trends Report reveals factors that contributed to 4.1% annual new vehicle growth as of August.
A sustained demand for new cars has helped Autoland Inc. post positive earnings through August, the auto buying CUSO said.
Just a year ago, credit unions were in the midst of a 2.3% contraction within their auto loan portfolios. Not anymore.
Continuing a year-long trend, sales of new cars and trucks showed a strong rebound in August.
The sharks are circling as banks eye boosting their share of car loans. Get the story in this preview from next week's print edition.