Auto Industry Growth Led by New Lease Activity
Are you responsible for auto financing at your company? The latest statistics from creditforecast.com are out for March 2012, and the auto industry is seeing significant growth in new auto lease activity.
Total U.S. auto lease balances increased 9.0% in March compared with a year ago, more than twice the increase in auto loan balances which grew by 4.2% over the same period. Lease balances originated by auto finance companies in particular rose 11% in March versus a year ago. CreditForecast.com forecasts auto lease balances to grow at an 8% average annual rate through the end of 2017, while auto loan balances are expected to grow between 2% and 3% annually over the same period.
You can check out the full summary on Equifax.com.
This post was contributed by: Amy Crews Cutts.
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