State of the Auto Finance Market - Experian
[Pages:27]State of the Automotive Finance Market
Presented by: Melinda Zabritski Q2 2019
1 ? Experian
Session overview
Market Overview
? Outstanding balances ? Total risk distributions ? Delinquency
Originations
? New and Used financing ? Lender and transaction types ? Loan & lease characteristics
2 ? Experian
Experian Public State of the Automotive Finance Market Q2 2019
Overall Automotive Finance Market
A review of all open automotive loans & leases
3 ? Experian
Experian Public State of the Automotive Finance Market Q2 2019
Loan balances reach another record high
Billions Billions
Total open automotive loan balance
$1,220 $1,200
$1,197
$1,180
4.20%
$1,160 $1,140
$1,149
$1,120 $1,100 $1,080
$1,100 7.13%
4.42%
$1,060
$1,040
2017 Q2
2018 Q2
2019 Q2
4 ? Experian
Experian Public State of the Automotive Finance Market Q2 2019
Total open automotive loan balance
$1,400
$1,200 $1,000
$186.7
$192.4
$212.9
$800
$295.2
$600
$252.5
$400
$329.4 $259.8
$351.8 $261.1
$200
$365.7
$0
2017 Q2
Banks Captive
$367.0
2018 Q2 Credit Union
$371.0
2019 Q2 Finance
Source: Experian-Oliver Wyman Market Intelligence Reports
Loan balance distribution stable: percentage of all subprime balances remains under 19%
Loan balance risk distribution
Year-over-year balance change
19.62%
20.01%
20.18%
41.97%
42.66%
42.62%
18.73%
18.53%
18.26%
15.97% 3.71% 2017 Q2
Deep Subprime
15.49% 3.32% 2018 Q2
Subprime Nonprime
15.44% 3.50% 2019 Q2
Prime Super Prime
5 ? Experian
Experian Public State of the Automotive Finance Market Q2 2019
9.90%
3.92%
2.67%
4.10%
5.09%
Deep
Subprime Nonprime
subprime
Prime Super prime
30 day delinquency decreases for most lenders
% of loans & leases 30 dpd
6.0%
2018 Q2 2019 Q2
4.0%
3.67% 3.85%
1.88% 1.84%
2.0%
2.15% 2.07%
1.19% 1.14%
0.0%
Bank
Captive
Credit Union
Finance
% of loan balances 30 dpd
6.0%
2018 Q2 2019 Q2
4.0%
2.0%
1.75% 1.69%
2.63% 2.45%
1.03% 0.98%
4.18% 4.39%
0.0%
Bank
Captive
Credit Union
Finance
2.12% 2.11% Total
2.15% 2.13% Total
6 ? Experian
Experian Public State of the Automotive Finance Market Q2 2019
Source: Experian-Oliver Wyman Market Intelligence Reports
Percentage of loan balances 30 dpd
AK = 1.61% HI = 1.74%
7 ? Experian
Experian Public State of the Automotive Finance Market Q2 2019
60 day delinquency remains flat
1.5%
2018 Q2 2019 Q2
% of loans & leases 60 dpd
1.32% 1.40%
1.0%
0.64% 0.64%
0.5%
0.52% 0.50%
0.26% 0.25%
0.0%
Banks
Captive
Credit Union
Finance
2.0%
2018 Q2 2019 Q2
1.5%
% of loan balances 60 dpd
1.49% 1.58%
1.0%
0.58% 0.59%
0.5%
0.0%
Bank
0.60% 0.58% Captive
0.21% 0.20% Credit Union
Finance
0.64% 0.65% Total
0.63% 0.65% Total
8 ? Experian
Experian Public State of the Automotive Finance Market Q2 2019
Source: Experian-Oliver Wyman Market Intelligence Reports
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