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Credit unions achieve some automotive finance market share gains and have opportunities for more growth.
The overwhelming majority of vehicle transactions still fall into the used category – a sweet spot for credit unions.
The key to growth lies in digging into the data and trends, and leveraging them to expand market share and encourage growth.
With sales rebounding and fewer incentives being offered, now is the time for CUs to recapture market share.
The decline doesn't necessarily mean CUs are in for a gloomy 2019 - the current trends present a prime opportunity.
While CU auto loan growth continues, total automotive loan balances reach another record high in Q4 2018, Experian finds.
Credit unions continued to experience higher growth in the automotive finance market than all other lender types in Q3 2018.
In Q2 2018, credit unions garner higher growth than all other lender types combined.
An Experian report shows credit unions are ahead of the pack when it comes to auto lending.
An Experian expert analyzes the latest statistics on auto lending.