It's too soon to call it a trend, but third-quarter subprime auto originations rose from the year earlier for the first time in more than two years, the Federal Reserve Bank of New York and TransUnion said in separate reports last week.
"This is more of a recovery from a pullback, as opposed to incremental growth. It's moderate growth," Kristen Bataillon, TransUnion senior manager of financial services research and consulting, told Automotive News.
According to the New York Fed's latest "Household Debt and Credit Report," auto originations for all credit scores reached $157.6 billion, up about 5 percent from a year ago. That number includes loans and leases, new and used vehicles combined.