Auto Loan & Lease Portfolio Data & Trends from Equifax Show Only Some Concern About Slowly Rising Delinquencies; No Stress or Duress

SITUATION:
Delinquency rates in both loan & Lease Portfolio are increasing at slow rate.
Little concern about auto lending & consumer leasing portfolio trends.
 

SIGNIFICANCE: [of Auto LENDING Portfolio Data]
Severe delinquency rate (share of balances 60+ DPD) is 0.89%, a 2.4% decrease from previous week & down 34 bps from Feb 2020.
Overall, delinquency rates have been rising slowly in past 9 years (since 2011) with regular seasonal variations.
Relative to historical values delinquencies are still low, less than rates seen in the first quarter of 2010.
The recession peak delinquency rate was 1.58% in February 2009.

STATS [For Auto Lending]
Per Auto LOAN Portfolio Data from Equifax [July Portfolio Observations}
The number of outstanding auto loan accounts is 79.19 M, up 1.6% from last week.
Total outstanding balances on auto loans have increased 0.8% from February 2020 month end to $1.266 trillion and are also up 1.6% from last week.

SIGNIFICANCE [Of Auto LEASE Portfolio Overall}
The severe delinquency rate (share of balances 60+ DPD) is 0.32%, up from .30% the previous week.
Decrease of 5 bps from February 2020 month end numbers.
Overall, lease delinquency rates went up slowly from mid-2012 to early 2017 and declined slowly over past 3 years.
Relative to historical values, delinquencies are still low.

STATS [for Auto LEASE Portfolio Observations from Equifax]
Number of outstanding auto lease accounts is 10.65 million
A 2.2% decrease from February 2020 month end.
The outstanding balances on auto leases is $93.7 billion.
Slight increase of .7% week over week
4.8% decrease from February 2020 month end.

SOURCE:
Auto Loan and Lease Portfolio Data & Trends from Equifax
Press Release – Craig Sims, Vice President Equifax Automotive Services.  craig.sims@equifax.com:
Media Contact: John Sternal, Merit Mile. 954-592-1201

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