U.S. light-vehicle sales rose 9 percent in the second quarter compared with the 2012 period.
Among all loan originations, according to the Fed report, the biggest year-over-year percentage increase was in the 621 to 660 credit score range, just below prime risk, which rose 16 percent in the second quarter to $12.1 billion. Loans to borrowers with credit scores of 620 or below increased about 11 percent from a year ago to $21.2 billion.
Borrowers with scores of 661 or above are considered prime and less of a credit risk.
"While originations to borrowers with the lowest credit scores have increased, they are just recently approaching historically normal levels and are below those that we saw during the boom years leading up to the crisis," the Fed report said.
Outstanding auto loans passed the $800 billion mark for the first time since the third quarter of 2008, the report said. That was the ninth quarter in a row that total auto loans outstanding exceeded the previous quarter, the Fed said.