Check out the full episode located below the show notes.
CUNA Senior Economist Dawit Kebede joined us to share the latest stats in the auto lending market, focusing on credit union loan originations.
Dawit detailed three key takeaways on what’s going on out there right now:
Auto inventory/sales ratio dropped down to 0.5% in September (lowest since 1993)
In 2021, used car value has increased by 30%
In 2020, credit union auto loan growth came in at 1.3% (down from 2.5% in 2019)
He also explained what these numbers mean for credit unions rounding out 2021 and heading into 2022, as well as adding his predictions on the supply shortages/consumer demand issue the globe is experiencing right now -- which is impacting the auto industry, too.
Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.