American Financial Services Association - Rebuilding Auto Originations Post Pandemic
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American Financial Services Association

Rebuilding Auto Originations Post Pandemic

Rebuilding Auto Originations Post Pandemic

Rebuilding Auto Originations Post Pandemic| December 2, 2021

Auto loan originations took a severe dip during the depths of the pandemic in 2020. The industry began to recover in the second half of 2020 and into 2021 as consumer finances stabilized and demand for automobiles as an alternative to public transportation increased. Additionally, shifts and shocks in the automotive industry have changed consumer behavior and market dynamics. The evolution of modern digital retailing, impact of global supply chain crunch (e.g., chips) on inventory and pricing, growth in auto refinance, and advent of next generation underwriting are all examples of factors reshaping auto lending in 2021 and beyond.

As auto lenders focus on growing their portfolios, they need to determine what enhancements are necessary to their existing originations strategies to identify growth opportunities. Current strategies for which customer segments to target and how to reach them should be revisited in light of the changes brought on by the pandemic. In this session, we’ll share insights on specific credit characteristics of consumers with high auto originations propensity, improving wallet profiles, and similarities amongst consumers who’ve historically taken out auto loans — all of which can be used to enhance existing lending strategies.

Presenter: Satyan Merchant, Senior Vice President of Auto, TransUnion

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