US Automobile: Sales, Financing and Used Vehicle Insights
[Pages:36]US Automobile: Sales, Financing and Used Vehicle Insights
Mike Buckingham Senior Director Auto Finance JD Power Data & Analytics
Agenda
? JD Power "PIN" Data; Background/Source ? New Vehicle Data; Auto Sales, Trends, Incentives and Outlook ? Used Vehicle Data; Prices, Supply, Forecast and Outlook ? Automobile Financing; Financing Type, Lender Segment Share, Credit
Mix, Term Mix, LTV's and Pricing and Outlook
JD Power "PIN" Data Background/Source
? "PIN" is an acronym for the "Power Information Network."
? We receive daily transactional data containing approximately 45% of all Vehicle Sales records from the Franchised New Car Dealers in the US.
? Data is sourced from the dealers "DMS" (dealer management system). ? Retail Sales data is published in PIN, Fleet/Commercial is excluded.
? Credit Score Data referenced is derived from Trans Union, FICO Auto `08.
Source: Power Information Network ? PIN, a business division of J.D. Power and Associates The credit scores provided within this application have been provided by FICO? Risk Score, Auto 08 FICO? is a registered trademark of Fair Isaac Corporation in the United States and other countries
New Vehicle Data;
Auto Sales, Trends, Incentives and Outlook
New Retail Sales
2017 Slightly Down, Again We forecast a modest drop of 200K units from 2017.
Industry Retail Sales (Millions)
14.2 14.1 14.0 13.8
13.6
14 15 16 17 18F
5
New Vehicle Transaction Prices
Still breaking records. Transaction Prices are at Record Highs. Forecasted to climb even higher in 2018.
Selling Price, Net of Incentives (Thousands)
$32.6 $31.0 $30.6 $29.8 $28.9
14 15 16 17 18F
6
Challenge: Passenger Car Sales Mix
Passenger Car Slump Continues;
- Mix down to 32% in 2018
- Major Challenge for the Industry
Car % of Retail Sales (Mar YTD) 47% 43% 41% 37% 32%
14 15 16 17 18
7
New Vehicle Incentives
Rising (but more Slowly) so far in 2018 Year End 2017 had a record level of $4,400 per unit. December 2017 incentives were 11% of MSRP, - 13.3% per car, 9.5% per Truck
Incentives/Unit (Thousands)
$4.0
18 17
16 15
14
Jan Mar
?
Jun Sep
$4.4 $4.0 $3.5 $3.3
Dec
8
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