The Auto Finance Roadmap Auto Finance News

First-quarter earnings continued to bring mixed results as vehicle sales slowed in April.  

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. 

Auto lenders have been active in the past week in funding initiatives, while competition has ramped up across the market.

Powersports lenders project mixed origination volume in 2024 as credit unions and regional banks pull back in the space and consumer application quality declines. In this episode of the “Weekly Wrap,” Auto Finance News Deputy Editor Amanda Harris and Senior Associate Editor Riley Wolfbauer discuss the top trends during the week ended March 15.