Brake For State Auto Data

State auto data shows how credit unions are performing at home.

 
 

As the nation careens down the calendar toward the holidays, a lucky few people will receive cars during this year's festivities. Now is an excellent time to take the temperature of credit unions' auto loan performance on a state level.

The first five columns of the table provide an in-depth look at state trends. Because of the economy, overall auto loan growth is down in most states. Although new auto loans continue to struggle, credit unions are gaining ground in their used auto lending due to a shift in consumer preference toward the lower priced alternative. The sixth column of the table (Total Market Share) outlines loan origination market share. Utah leads the pack with 42.5%. The national average is 15.2%.

Like houses, people will always need cars. Because of economic uncertainty, however, people are shying away from the purchase. When they do buy, they seem to prefer used vehicles.

Year-Over-Year Auto Lending Growth By State
Data as of September 30, 2010
State #CU's Total Auto Loan Growth New Auto Loan Growth Used Auto Loan Growth Auto Loans as a % of Total Loans Total Market Share
Alaska 12 7.93% 0.89% 13.12% 55.16% N/A
Alabama 127 -5.87% -27.47% 10.02% 40.25% 17.8%
Arkansas 59 2.48% -6.34% 13.03% 52.33% 9.4%
Arizona 45 -21.09% -30.02% -10.47% 41.14% 12.3%
California 443 -17.63% -27.43% -9.18% 22.30% 10.6%
Colorado 99 -14.10% -26.53% -7.45% 37.06% 31.0%
Connecticut 129 -12.65% -26.32% -4.17% 22.49% 6.4%
Dist. of Columbia 52 -12.94% -22.20% -2.80% 10.89% N/A
Delaware 26 -3.42% -10.71% 3.73% 29.88% N/A
Florida 174 -12.93% -21.79% -3.18% 31.22% 10.9%
Georgia 144 0.71% -10.91% 8.54% 40.00% 9.5%
Hawaii 84 -16.81% -23.09% -6.99% 21.94% 31.3%
Iowa 135 5.27% -10.20% 12.43% 33.51% 28.9%
Idaho 32 0.86% -9.63% 5.93% 44.54% 34.4%
Illinois 361 -3.00% -15.20% 7.30% 29.68% 12.0%
Indiana 165 -0.81% -14.63% 6.07% 34.69% 20.5%
Kansas 94 9.14% -7.88% 14.26% 56.82% 20.5%
Kentucky 85 0.03% -14.92% 7.82% 31.93% 9.3%
Louisiana 207 1.79% -6.92% 13.78% 45.28% 15.5%
Massachussetts 203 -2.75% -11.08% 2.06% 20.04% 21.5%
Maryland 89 -11.73% -20.16% -3.17% 24.99% 10.3%
Maine 62 -5.70% -17.99% 1.11% 23.94% 22.7%
Michigan 314 2.57% -12.54% 11.71% 26.87% 19.1%
Minnesota 152 -0.02% -7.01% 3.10% 27.11% 21.7%
Missouri 137 -7.28% -21.21% 0.83% 38.95% 12.7%
Mississippi 84 -3.33% -16.47% 6.69% 45.04% 10.3%
Montana 44 -0.03% -13.90% 8.65% 26.08% 24.1%
North Carolina 94 -8.88% -26.80% 2.03% 17.03% 10.3%
North Dakota 47 -1.33% -9.96% 1.07% 24.45% 19.3%
Nebraska 71 11.25% 1.88% 15.07% 41.47% 16.8%
New Hampshire 23 12.42% 3.22% 20.30% 42.37% 22.3%
New Jersey 196 -6.79% -17.97% 4.19% 13.06% 2.7%
New Mexico 50 0.11% -10.66% 10.79% 39.20% N/A
Nevada 13 -19.56% -32.91% -8.40% 32.46% 10.6%
New York 417 -3.58% -12.15% 4.83% 19.11% 12.0%
Ohio 316 -0.87% -9.82% 5.50% 36.38% 12.3%
Oklahoma 71 4.32% -7.62% 14.05% 52.60% N/A
Oregon 77 -6.32% -15.90% 7.59% 37.36% 38.7%
Pennsylvania 479 -1.75% -13.39% 6.01% 26.13% 14.0%
Rhode Island 23 -13.27% -20.78% -9.12% 12.12% N/A
South Carolina 78 -5.81% -20.08% 2.30% 34.11% 14.6%
South Dakota 50 -1.31% -12.40% 3.01% 36.83% 23.1%
Tennessee 175 -5.87% -16.36% 1.14% 33.45% 17.0%
Texas 527 0.42% -7.80% 9.86% 48.72% 16.2%
Utah 91 -5.63% -21.19% 0.55% 41.06% 42.5%
Virginia 179 -4.27% -17.25% 8.12% 20.00% 15.3%
Vermont 26 8.45% -13.81% 16.82% 21.31% 21.2%
Washington 112 -6.78% -16.05% 3.05% 30.45% 31.3%
Wisconsin 220 1.26% -14.02% 6.87% 20.41% 24.8%
West Virgina 103 -4.17% -16.40% 6.49% 41.95% 10.6%
Wyoming 31 3.49% -11.77% 11.29% 51.27% N/A

Source: Callahan & Associates' Peer-to-Peer Software

Total Market Share Source: AutoCount data from Experian Automotive; Callahan & Associates

 

 

 

 

Nov. 18, 2010


Comments

 
 
 
  • Jeanna-

    Thanks for your question. I'm sorry if the information we presented wasn't clear. Based on your feedback we've gone in and added some text to address those questions.

    All of the data presented in the chart is as of September 2010, and the growth rates shown represent the year-over-year change.

    -Nick
    Nick Connors
     
     
     
  • Is the data presented year to date growth or year over year growth? And, as of what date- Oct 31?
    Jeanna