new car facing horizon on road Source: Shutterstock

With the onset of the chip shortage, captive lenders began to recede from the heavy incentives that kept sales going in the early days of the pandemic. When coupled with rising vehicle prices and interest rates, this created a unique opportunity for credit unions to achieve their highest market share in history, as they remain one of the few lenders still offering lower interest rates.

According to Experian’s “State of the Automotive Finance Market Report: Q2 2022,” credit unions’ market share increased to 25.81%, from 18.32% in Q2 2021. In comparison, captives decreased to 22.64% this quarter, from 28.47% the previous year.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.