Estimating Automobile-Based Lending Growth In 2012
Sober Look | Jan 01, 2013 11:50PM ET
Several readers have asked about the auto loan component of the US consumer credit growth (SIFMA . It is the total auto ABS (securitized auto loans) outstanding reported on a quarterly basis.
The data also shows an increase in auto loans during the first three quarters of 2012 on the order of $24bn in ABS securitization alone.
Even if the exact amount is difficult to estimate at this stage, it is clear from the above three measures that the US experienced a decent size expansion in auto loans during 2012 (although it is still a fraction of corporate lending taking place last year). And that credit expansion in turn helped drive brisk auto sales that exceeded the Cash For Clunkers program in 2009.
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