A robust recovery of vehicle sales may not been seen anytime soon as long as unemployment remains high.
A 27-year member of the Eagle Community CU in Lake Forest, Calif., won the keys to a 2011 Nissan Sentra from among entries from more than 270 credit unions.
CU Solution Group’s auto lending alliance with Invest in America and General Motors has yielded 130,098 loans from nearly 300,000 members.
The latest forecasts for new auto loan originations at credit unions appear to be positive but with some caveats.
Total vehicle sales started 2011 off the same way 2010 ended: in a slow but steady upward trend, according to NAFCU.
CU Xpress Lease Inc. is on a record-setting pace in auto leasing activity with 2010 up 100% on year-over-year numbers from 2009.
Total vehicle sales were down from May to June, continuing their bumpy ride through 2010.
The latest NAFCU Macro Data Flash Report on vehicle sales showed that while sales continued on an upward trend through the end of 2009 the auto industry still faces a long battle to return to prerecession numbers.