TD Auto Finance Continues Significant Market Share Gains
Experian
12.00
SCHAUMBURG, Ill. — The chart created by Experian Automotive
almost couldn't contain the year-over-year growth posted by TD Auto Finance
during the second quarter.
TD Auto Finance's share of the overall lending market shot
up by 333.6 percent to solidify its position among the Top 10 operations,
according to Experian's data released this week. The company's market share
settled at 1.93 percent, up from 1.67 percent TD Auto Finance held at the end
of the first quarter.
The company's year-over-year gains for used loans produced a
percentage increase greater than all other lenders that moved higher during the
second quarter combined. TD Auto Finance's used market share came in at 1.39
percent, again keeping it among the Top 10.
And TD Auto Finance increased its toehold in new-vehicle
lending, too, as that segment of its business moved higher by an astounding 700
percent to come in at 2.94 percent.
While TD Auto Finance's rising performance stood out most
within Experian's report, several other lenders enjoyed positive gains during
the second quarter. Among some of the highlights were:
—Santander Consumer USA's used market share moving 44.5
percent higher to 2.72 percent.
—Capital One's overall market share level increasing by 43.6
percent to 4.36 percent
—Westlake Financial's used market share jumping by 17.1
percent to 1.04 percent.
The Top 20 used lenders by market share for the second
quarter as reported by Experian were:
—Wells Fargo: 6.99 percent
—Ally Financial: 4.03 percent
—Capital One: 3.96 percent
—Chase: 3.43 percent
—Santander Consumer USA: 2.72 percent
—Toyota: 2.11 percent
—Credit Acceptance: 1.51
percent
—Bank of America: 1.47 percent
—TD Auto Finance: 1.39 percent
—CarMax: 1.31 percent
—Fifth Third: 1.15 percent
—Huntington: 1.13 percent
—Westlake Financial: 1.04 percent
—AmeriCredit: 1.03 percent
—Ford: 0.93 percent
—BMW Bank: 0.89 percent
—USAA: 0.84 percent
—Navy FCU: 0.73 percent
—Honda Finance: 0.69 percent
—SunTrust Bank: 0.68 percent
The Top
20 new lenders in the second quarter were:
—Ally
Financial: 11.59 percent
—Toyota: 10.05 percent
—Ford: 8.08 percent
—Honda Finance: 7.93 percent
—Chase: 7.55 percent
—Capital One: 5.08 percent
—Nissan/Infiniti: 5.00 percent
—Wells Fargo: 4.92 percent
—Hyundai: 3.25 percent
—TD Auto Finance: 2.94 percent
—Bank of America: 2.89 percent
—VW Credit: 2.34 percent
—US Bank: 2.09 percent
—World Omni: 2.08 percent
—Fifth Third: 1.63 percent
—Kia: 1.63 percent
—PNC Bank: 1.62 percent
—RBS Citizens: 1.56 percent
—SunTrust Bank: 1.51 percent
—BMW Bank: 1.41 percent
As a
result, Experian determined the Top 20 lenders for overall market share in Q2 were:
—Ally
Financial: 6.68 percent
—Wells Fargo: 6.27 percent
—Toyota: 4.89 percent
—Chase: 4.87 percent
—Capital One: 4.36 percent
—Ford: 3.43 percent
—Honda Finance: 3.23 percent
—Santander Consumer USA: 3.23 percent
—Nissan/Infiniti: 1.98 percent
—TD Auto Finance: 1.93 percent
—Bank of America: 1.79 percent
—Fifth Third: 1.32 percent
—Hyundai: 1.23 percent
—US Bank: 1.17 percent
—VW Credit: 1.15 percent
—Huntington: 1.14 percent
—BMW Bank: 1.07 percent
—AmeriCredit: 1.00 percent
—Credit Acceptance: 0.98 percent
—SunTrust Bank: 0.97 percent