Auto Balances Top $1 Trillion Again Despite Slowdown, Top 10 Players Poised for Shakeup

NEW YORK (May 15, 2017) — The auto finance industry had yet another record-breaking year in 2016, once again surpassing $1 trillion in loan and lease outstandings, according to the annual Big Wheels Auto Finance ranking of car lenders and lessors, which has been published annually since 1999, and was released today.

After seven years of stellar growth, the auto finance market has hit a speed bump. Though loan and lease outstandings among the top 100 financiers grew 7.7% in 2016 — lingering above the trillion-dollar mark — the pace of growth has slowed since the 11.6% rate of expansion recorded in 2015. The drop in overall growth rates indicates an industry slowdown.

“The market has peaked,” said Marcie D. Belles, Vice President-Auto Finance, Royal Media. “The banner years for auto finance may be over, but the industry remains strong and poised for solid originations in 2017.”

Released today, the Big Wheels Auto Finance Data Report is the nation’s only ranking of the Top 100 auto financiers in the United States by originations and outstandings. The Top 5 Companies as ranked in the 2017 report, were:

Lender 2017 Rank 2016 Rank
Toyota Financial Services 1 1
Ally Financial Inc. 2 2
Chase Auto Finance 3 3
Ford Motor Credit Co. 4 4
Wells Fargo Dealer Services Inc. 5 5

 

Toyota Financial Services maintained the top spot, ending 2016 with $89.5 billion of total loans and leases outstanding and $44.5 billion of originations.

New to the Big Wheels 2017 report is a five-year history of total outstandings at the nation’s 10 largest lenders.This new analysis offers a glimpse at which financiers are accelerating — and are poised to overtake their peers in 2017 — versus those tapping on the brakes.

“We will likely see dramatic changes among the nation’s largest financiers, with new faces breaking into the top five by yearend,” Belles said.

The 2017 Big Wheels Auto Finance Data Report is available at www.BigWheelsData.com.

About Big Wheels Report

Published annually since 1999, the Big Wheels Report tracks the loan and lease operations at banks, captive finance companies, credit unions, and independent auto lenders. Additionally, the report includes contact information for the Top 100 finance companies, as well as an origination forecast for 2017.

The Big Wheels Auto Finance report is tabulated using information provided by the finance companies, data from public documents, and calculations based on proprietary formulas.

Big Wheels Auto Finance is published by Auto Finance News, a unit of Royal Media. Since 1996, Auto Finance News has been the newsletter of record for the auto lending and leasing market.
Press copies of the report and expert commentary on the findings are available through Marcie Belles, a 20-year Auto Finance industry veteran and author of the report. She can be reached at 212-991-6733 or mdbelles@royalmedia.com.

  Like This Post

One Comment

  1. Pingback: Fed Numbers Place Ally as No. 1 Lender | Auto Finance News

Leave a Reply

Slot F