Within the auto lending sector, a mixed bag of strong and weak outcomes was seen in the first quarter.
Overall, open portfolios are still strong with a slight increase of $3 billion or 0.5% over last year, according to Experian's State of the Automotive Finance Market for the first quarter.
The firm also noted improvement in both 30- and 60-day delinquencies as credit continues to loosen on originations. Meanwhile, all of subprime is up 11.1% on new auto loans and 3.6% on used. There has been a slight shift in used financing toward older model vehicles. For both new and used cars, Experian has seen a decrease in auto rates.
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