Volume nears $1.4 trillion despite origination slowdown
Though the auto finance market closed in on a record $1.4 trillion last year, 37 of the top 100 financiers recorded portfolio declines, according to the annual
Big Wheels Auto Finance ranking of car lenders and lessors. Year-over-year outstandings grew 3.7%, compared with a 0.6% dip in 2022.
Originations, meanwhile, declined 1.4%. The nation’s top 100 financiers closed out 2023 with $598.5 billion of originations, down from $606.9 billion in the year prior.
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