US Bank’s auto outstandings increase for sixth consecutive quarter, up 26% YOY

Strong used-vehicle values contributed to the bank’s low net charge-off rates

Photographer: Luke Sharrett/Bloomberg

Auto loan production in the fourth quarter pushed up U.S. Bank’s retail loan growth as the lender prepares for more “moderate” auto lending in the year ahead. U.S. Bank’s auto outstandings climbed for the sixth consecutive quarter in Q4, reaching $24.9 billion, a 6% sequential increase and 26.4% year-over-year increase. Increases in auto offset declines […]

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