Business Partner Webinar | How to Retain Market Share Amid Declining Auto Originations
October 19, 2023 at 2:00pm EST
U.S. auto originations are largely trending down – 9.4% YoY decline – according to the TransUnion Q2 Credit Industry Insights Report. The rejection rate for auto loans rose to 14.2% in June 2023 from 9.1% in February of this year according to Federal Reserve.
The problem is being fueled by multiple market developments including vehicle affordability decline, increasing cost of funds, and lenders being cautious amid one of the most aggressive Fed rate hiking cycles.
Doing business with a smaller pool of customers amid rising interest rates puts a spotlight on risk assessment, competitive pricing strategies, profitability, and market share. Do auto lenders need to make strategic and/or technological shifts to adjust to the unpredictable market conditions or simply wait it out?
If you, like many other auto lenders find yourself in this predicament, this webinar is for you. Join Will Ely, Solutions Architect and Sean Johnson, Customer Success Lead, from Earnix – a global leader in pricing analytics and digital decisioning – will share keys to success and answer questions like:
• Is it possible to grow (or stabilize) originations amid rising cost of funds?
• How can lenders retain market share in a highly competitive market?
• Is it feasible to grow loan profitability while maintaining volume?
• What is the best way to manage declining customer loan affordability without exposing yourself to unnecessary risk?
• What tactical and tech stack shifts will offer quick wins?
October 13th, 2023
