First-quarter earnings kicked off last week with banks reporting a decline in auto originations. Chase Auto and Wells Fargo Auto’s origination volume decreased year over year in Q1, while outstandings were mixed. Meanwhile, auto credit availability improved across all lender types in March.

Used-vehicle values declined again in March while car sales improved as the industry shifts toward a buyers’ market. 

The return of higher supply levels is contributing to an uptick in incentives and increased new-vehicle sales projections. Meanwhile, the powersports market is feeling the ramifications of higher interest rates.