Changes in US Vehicles in Operation: Q1 2019

From shifting consumer preferences to aging vehicles reshaping service demand, data from the second quarter of 2025 revealed a dynamic landscape where new and used vehicle registrations grow, and the aftermarket “Sweet Spot” becomes a rich source for service providers. Experian’s Automotive Market Trends Report: Q2 2025 found that light-duty vehicles reached 293.5 million, up from 291.1 million through Q2 2024. This growth can be attributed to the 16.3 million new vehicle registrations and 39.5 million used vehicle ownership changes, demonstrating a healthy turnover in the market. Taking a closer look at the registration trends, new vehicle registrations saw a 7.7% year-over-year increase, reaching 4.2 million through Q2 2025. Meanwhile, used vehicle registrations also slightly increased by 2% from last year, rising to 10.2 million this quarter, as buyers continued to seek pre-owned options amid conversations around affordability. Leveraging aftermarket trends for service opportunities As vehicles age and warranties expire, there is a natural shift to aftermarket services, and the continuous growth in the aftermarket sweet spot shows that consumers are willing to keep their vehicles for longer periods of time, as long as they’re still functional. The aftermarket sweet spot is made up of vehicles aged 6-to-12-years old and are typically out of manufacturer warranty, making them prime candidates for aftermarket services. For instance, 35.5% of all light-duty vehicles on the road fell into this category through Q2 2025, signaling an opportunity for service providers and parts manufacturers. With total vehicle registrations on the rise and more vehicles entering the aftermarket sweet spot, it gives automotive professionals in all stages of the buying journey an opportunity to capitalize on these positive trends and meet consumers where they are needed the most. To learn more about vehicle market trends, view the full Automotive Market Trends Report: Q2 2025 presentation on demand.

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Executive Summary The July 2025 housing market reveals a landscape of shifting consumer behaviors, evolving lender strategies, and continued strength in borrower performance—especially within home equity. Origination volumes have dipped slightly, but direct marketing, particularly through Invitation to Apply (ITA) campaigns, is accelerating. As key players exit the space, gaps are opening across both marketing and origination, creating clear opportunities for agile institutions. This phase signals both caution and potential. The winners will be those who refine their marketing, sharpen segmentation, and deploy smarter risk monitoring in real time. TL;DR Risk Profile: Mortgage and HELOC delinquencies remain low. Slight increases in 90+ DPD are not yet cause for concern. Mortgage Originations: Modestly down, but marketing remains aggressive. Invitation to Apply (ITA) volumes outpacing prescreen. Home Equity Originations: Stable originations, competitive marketing volumes. ITA volumes outpacing prescreen similar to mortgage. Opportunity: Targeted direct mail and refined segmentation are growth levers in both mortgage and home equity. Risk Environment: Resilient Yet Watchful Experian’s July data shows both mortgage and home equity delinquencies hovering at historically low levels. Early-stage delinquencies dropped in June, while late-stage (90+ days past due) nudged upward—still below thresholds signaling broader distress. HELOCs followed a similar path. Early-stage movement was slightly elevated but well within acceptable ranges, reinforcing borrower stability even in a high-rate, high-tariff environment. Takeaway: Creditworthiness remains strong, especially for real estate–backed portfolios, but sustained monitoring of 90+ DPD trends is smart risk management. Home Equity: Volume Holds, Competition Resets Home equity lending is undergoing a major strategic reshuffle. With a key market participant exiting the space, a significant share of both marketing and originations is now in flux. What’s happening: Direct mail volumes in home equity nearly match those in first mortgages—despite the latter holding larger balances. ITA volumes alone topped 8 million in May 2025. Total tappable home equity stands near $29.5 trillion, underscoring a massive opportunity.(source: Experian property data.) Lenders willing to recalibrate quickly can unlock high-intent borrowers—especially as more consumers seek cash flow flexibility without refinancing into higher rates.   Direct Mail and Offer Channel Trends The continued surge in ITA campaigns illustrates a broader market pivot. Lenders are favoring: Controlled timing and messaging Multichannel alignment Improved compliance flexibility May 2025 Mail Volumes: Offer Type Mortgage Home Equity ITA 29.2M 25.8M Prescreen 15.6M 19.0M Strategic Insights for Lenders 1. Invest in Personalized Offers Drive better response rates with prescreen or ITA campaigns. Leverage data assets like Experian ConsumerView for ITA’s for robust behavioral and lifestyle segmentation. For prescreen, achieve pinpoint-personalization with offers built on propensity models, property attributes, and credit characteristics. 2. Seize the Home Equity Opening Use urgency-based messaging to attract consumers searching for fast access to equity—without the complexity of a full refi. Additionally, as mentioned above, leverage propensity, credit, and property (i.e. equity) data to optimize your marketing spend. 3. Strengthen Risk Controls Even in a low-delinquency environment, vigilance matters. Account Review campaigns, custom scorecards, and real-time monitoring help stay ahead of rising 90+ DPD segments. 4. Benchmark Smarter Competitive intelligence is key. Evaluate offer volumes, audience segmentation, and marketing timing to refine your next campaign. FAQ Q: What does the exit of a major home equity player mean? A: It leaves a significant gap in both marketing activity and borrower targeting. Lenders able to act quickly can capture outsized share in a category rich with equity and demand. Q: How should lenders respond to the evolving risk profile? A: Continue to monitor performance closely, but focus on forward-looking indicators like trended data, income verification, and alternative credit signals. Conclusion The housing market in July 2025 presents a clear message: the fundamentals are sound, but the strategies are shifting. Those ready to optimize outreach by making smarter use of data will seize a disproportionate share in both mortgage and home equity. Want to stay ahead? Connect with Experian Mortgage Solutions for the insights, tools, and strategies to grow in today’s evolving lending environment.