Source: Experian
Credit unions had been steadily increasing their market share in the automotive financing space for years, but the Q1 2019 data showcased a surprise: That trend has taken a hiatus.
There was a slight dip in market share for credit unions in Q1 2019, based on Experian's most recent "State of the Automotive Finance Market" report. Credit unions saw their total automotive market share drop 6.6% to 19.9% in the first quarter, but the decline in market share doesn't necessarily mean credit unions are in for a gloomy 2019. The current trends in the automotive finance market present a prime opportunity for credit unions.
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