AUTOMOTIVE INDUSTRY INSIGHTS Finance Market Report
AUTOMOTIVE INDUSTRY INSIGHTSFinance Market ReportQ4 2020Presented byMelinda Zabritski 2020 Experian Information Solutions, Inc. All rights reserved. Experian and the Experian marks used herein aretrademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company namesmentioned herein are the trademarks of their respective owners. No part of this copyrighted work may be reproduced,or distributed in any form or manner without the prior written permission of Experian.1modified, ExperianExperian Public.
Today’s speakerMelinda ZabritskiSr. Director of Automotive Financial SolutionsExperianThroughout her career with Experian, Zabritski has overseenthe product strategy for Experian Automotive’s lendingchannel and creation of the automotive credit vertical. Afterover 18 years in product management, she transitioned intosales and consulting. Zabritski also serves as Experian’sprimary analyst and spokesperson regarding key automotivefinance trends.2 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Session overview Overall origination trends Quarterly spotlight Origination trends on New loans & leases Origination trends on Used financing Portfolio balances & delinquency3 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Q4 2020OriginationsTrends in automotive loan andlease originations4 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Automotive financing1Snapshot of how and what consumers are financing215Financing either a loan or lease is present on the title; 2 All loan, lease or cash ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Captives continue to increase market share6 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Average scores increase 4 points for new and 8 for usedvehicles7 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Subprime segments reach record lows1Total8financing loan and lease transactions on both new and used vehicles ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Deep subprime loans hit another record low1Total9financing loan transactions on both new and used vehicles ExperianExperian Public. State of the Automotive Finance Market Q4 2020
QuarterlySpotlightA look at financing for alternative fuelvehicles10 Experian
Electric & hybrid now make up 6.7% of new financing11 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Toyota leads with the greatest share of the electric &hybrid market while the Model Y is the most popular model12 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Electric vehicles have the highest credit scores with BMWand the Model Y generating the highest by Make & Model13 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Avg monthly payment trend & top 10 models14 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
New financingA look at new lease & loan trends15 Experian
Captives show large share increase for new financing16 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
New financing maintains steady increase in scores17 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Subprime leasing continues it’s decline while prime stilllease over a third of the timeDeep subprime 0.20%(down 52%)18 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Michigan and the Northeast have the greatest share ofnew state financing as lease19 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Honda maintains it’s lead as the most leased make20 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Finance type among top 20 leased new makes21 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Mix of car, truck and CUV make up the top 10 most leasedvehicles with average payment difference of 11622 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Subprime new originations reach recession levelsDeep subprime 0.36%(down 54%)23 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
What are consumers financing? Over 55% of new vehiclesfinanced are SUVs24 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
New loan attribute summary: payments reach record high25 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Leasing payments and terms increase YOY26 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Payments and loan amounts climb27 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Vehicle values and LTV increase28 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Terms rise across most risk tiers while rates fall for all tiers29 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
72-month loans dominate the quarter30 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Used financingA look at used automotive loan trends31 Experian
Franchise dealers source the majority of transactions32 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Over 88% of current 8MY vehicles have financing(69% not including 2021MY)33 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Most lender types experience slight decreases in usedloan share while captives increase34 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Tennessee leads with the largest percentage of loans forused cars; Maine has the lowest35 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Deep subprime & subprime used loans fall to record lows36 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
2020 disrupted the shift of prime borrowers toused vehicles37 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Used loan attribute summary: used loan amounts & term hitrecord highs while payments surpass 400 for the first time38 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Used loan amounts and payments rise39 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Used values increase while LTV drops40 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Terms increase while rates drop for all but deep subprime41 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
73 month terms grow along with average credit scores forlonger terms42 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
MarketOverviewAll open auto loans & leases43 Experian
Overall loan balances (in billions) grew 3.5% YOY with banksexperiencing a slight decrease44 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Percentage of loans & leases that are delinquentdecreased as some accounts remain in deferment45 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Delinquent loan balances decrease year-over-year assome accounts remain in deferment46 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Percentage of loan balances 30 dpd per state47 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Percentage of loan balances 60 dpd per state48 ExperianExperian Public. State of the Automotive Finance Market Q4 2020
Q4 Summary Leasing remains low yet, financing overall hasdecreased Subprime continues to reach record lows for automotivefinancing Loan amounts, vehicle values and terms continue togrow while LTVs remain in check Used payments surpassed 400 for first time Overall balances climb and delinquencies remain low4949 ExperianExperianExperian Public. State of the Automotive Finance Market Q4 2020
channel and creation of the automotive credit vertical. After over 18 years in product management, she transitioned into sales and consulting. Zabritski also serves as Experian's primary analyst and spokesperson regarding key automotive finance trends. Melinda Zabritski Sr. Director of Automotive Financial Solutions Experian Experian Public.
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