Credit union auto financing market share increased to 13.1% in
February, versus 12.9% in January, in the 29 states covered by AutoCount
USA. The overall number of financings in these states fell 10% from
January, with the number of new auto loans falling a staggering
24% as bad weather on the east coast kept potential buyers at home.
New credit union auto loans fell only 17% in February, so credit
unions boosted their new auto loan share to 11.4%, a 1.0% increase
from January. On the other hand, total used car financings jumped
3% during the month as credit unions maintained a strong share in
this market of 16.3%. Credit unions in Colorado, Montana, and Minnesota
all performed well in February, each originating over 24% of all
auto loans in their respective states.
This graph displays credit union auto financing market share in
the 29 states covered by AutoCount USA.