Huntington Doubles Market Share in Several States
COLUMBUS, Ohio — Huntington executives revealed Tuesday they've doubled their market share since this time last year in four of the six states that encompass their auto lending footprint, including Ohio, Indiana, Kentucky, Michigan and Pennsylvania.
Furthermore, the company also announced it has become the top dealer lender in both Ohio and Kentucky for the second quarter of this year.
Executives shared more specific data about their growth. As of the second quarter of 2010, Huntington's market share in Ohio was 11.8 percent as compared to 5.4 percent in 2009. The company's share in Indiana climbed to 8.5 percent from 4.3 percent. Its percentage in Kentucky moved up to 12.9 percent from 6 percent
"We have a deep understanding of the auto lending market and have stayed consistent in our underwriting, pricing and funding policies," insisted Nick Stanutz, Huntington's senior executive vice president and head of the auto finance and dealer services group.
"As a result of these practices, dealers across our footprint have come to rely on our best-in-class service and have responded favorably," Stanutz continued.
Huntington pointed out that a customer satisfaction study performed by a leading global marketing information services company ranked the lender this year as one of the top 10 in the country for automobile dealer financing services and No. 1 above other banks featured.
"Since the early 1950s, Huntington has provided new and used automobile financing and dealer services business, as well as other comprehensive banking services for many dealers," executives concluded.