U.S. Bank Sees 6.9% Auto Origination Growth in 2Q | Auto Finance News | Auto Finance News

U.S. Bank Sees 6.9% Auto Origination Growth in 2Q

Paper planeU.S. Bank’s average auto loans — which have a weighted average Fico of 772 — totaled $16.7 billion in the second quarter, up from $15.6 billion in the prior-year period. The 6.9% year-over-year growth was driven by high-quality originations in the indirect channel, according to the bank’s quarterly earnings released today.

The ratio of loans 30 to 89 days past due rose to 0.48% from 0.35% year over year, and 90-day delinquencies remained relatively unchanged at 0.03% for the second quarter, versus 0.02% at the same time a year prior.

 

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