Strong consumer demand for vehicles, an expected improvement in new-vehicle inventory and a drop in used-vehicle prices should spur an uptick in U.S. auto loans in 2023, according to a TransUnion forecast.
The credit bureau said it expects roughly 28.8 million U.S. auto loans to be originated in 2023, up about 5 percent from 2022.
The projected rise would be a rebound from the estimated 6 percent drop in auto loan originations in 2022 compared with 2021.