While automotive loan originations grew 15 percent year over year in Q1 2014, a recent Experian Automotive study found that more consumers are continuing to drive older-model vehicles. Vehicles predating the 2001 model year comprised 28.3 percent of all vehicles on the road during Q1 2014 — the highest level on record.
As these vehicles age and consumers re-enter the market, it is important for lenders to design more successful marketing campaigns by utilizing sophisticated analytics and market intelligence.
