At A Glance
It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.Paragraph Block- is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
Heading 2
Heading 3
Heading 4
Heading 5
- This is a list
- Item 1
- Item 2
- Sub list
- Sub list 2
- Sub list 3
- More list
- More list 2
- More list 3
- More more
- More more
This is the pull quote block Lorem Ipsumis simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s,
ExperianThis is the citation
This is the pull quote block Lorem Ipsumis simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s,
ExperianThis is the citation
| Table element | Table element | Table element |
| my table | my table | my table |
| Table element | Table element | Table element |
Media Text Block
of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum
My Small H5 Title
My first column title
Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
My second column title
Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
Security. Convenience. Personalization. Finding the balance between these three priorities is key to creating a safe and low-friction customer experience. We surveyed more than 6,500 consumers and 650 businesses worldwide about these priorities for our 2020 Global Identity and Fraud Report: Most business are focusing on personalization, specifically in relation to upselling and cross-selling. This is frustrating customers who are looking for increases in both security and convenience. It’s possible to have all three. Read Full Report
Update: After closely monitoring updates from the WHO, CDC, and other relevant sources related to COVID-19, we have decided to cancel our 2020 Vision Conference. If you had the chance to experience tomorrow, today, would you take it? What if it meant you could get a glimpse into the future technology and trends that would take your organization to the next level? If you’re looking for a competitive edge – this is it. For more than 38 years, Experian’s premier conference has connected business leaders to data-driven ideas and solutions, fueling them to target new markets, grow existing customer bases, improve response rates, reduce fraud and increase profits. What’s in it for you? Everything to gain and nothing to lose. Are you a marketer? These sessions were made to drive your conversion rates to new heights: Know your customers via omnichannel marketing: Your customers are everywhere, but can you reach them? Learn how to drive business-expansion strategy, brand affinity and customer engagement across multiple channels. Plus, gain insight into connecting with customers via one-to-one messaging. By invitation only, the future of ITA marketing: An evolving landscape means marketers face new challenges in effectively targeting consumers while staying compliant. In this session, we’ll explore how you can leverage fair lending-friendly marketing data for targeting, analysis and measurement. Want the latest in technology trends? Dive into discussions to transform your customer experience: Credit in the age of technology transformation: Machine learning and artificial intelligence are the current darlings of big data, but the platform that drives the success of any big data endeavor is crucial. This session will dive into what happens behind the curtain. Put away your plastic – next-generation identity: An industry panel of experts discusses the newest digital identity and authentication capabilities – those in use today and also exciting solutions on the horizon. How about for the self-proclaimed data geeks? Analyze these: Alternative data: Listen in on an in-depth conversation about creative and impactful examples of using emerging data assets, such as alternative and consumer-permissioned data, for improved consumer inclusion, risk assessment and verification services. The next wave in open data: Experian will share their views on the potential of advanced data and models and how they benefit the global value chain – from consumer scores to business opportunities – regardless of local regulations. And the risk masters? Join us as we kick fraud to the curb: Understanding and tackling synthetic ID fraud: Synthetic IDs present a serious challenge for our entire industry. This expert panel will explore the current landscape – what’s working and what’s not, the expected impact of the next generation SSA eCBSV service, and best practice prevention methods. You are your ID – the new reality of biometrics: Consumers are becoming increasingly comfortable with biometrics. Just as CLEAR has transformed how we use our biometric identity to move through airports, sports venues and more, financial transactions can also be made friction-free. The point is, there’s something for everyone at Vision 2020. It’s not just another conference. Trade in stuffy tradeshow halls and another tri-fold brochure for the insights and connections you need to take your career and organization to the next level. Like technology itself, Vision 2020 promises to connect us, unify us and enable us all to create a better tomorrow. Join us for unique networking opportunities, one-on-one conversations with subject-matter experts and more than 50 breakout sessions with the industry’s most sought-after thought leaders.
For financial marketers, long gone are the days of branded coffee mugs, teddy bears and the occasional print ad. Financial marketers are charged with customizing messaging and offerings at a customer level, increasing conversion rates, and moving beyond digital while keeping an eye on traditional channels. Additionally, financial marketing teams are having to do it all with less; according to CMO Survey, marketing budgets have remained stagnant for the last 6 years. Accordingly, competing in today’s world requires transforming your organization to address rapidly increasing complexity while containing costs. Here are four tactics leading-edge firms are using to respond to changes in the market and better serve customers. More data, fewer problems Financial institutions ingest a mind-boggling variety of data, transaction details, transaction history, credit scores, customer preferences, etc. It can be difficult to know where to start or what to do with what is often terabytes of data. But the savviest teams are mining their unique data, along with bureau data, and other alternative and third-party data for rich decision making that drives differentiation. Getting analytical In financial institutions, advanced analytics has traditionally lived with lenders, underwriters, risk and fraud, departments, etc. But marketers too can find the value in the volume, velocity and variety of new data sources available to financial institutions. Using advanced analytics allows the most forward-thinking financial marketers to better target customers, personalize experiences, respond in near-real-time or even predict actions, and measure the impact of marketing investments. Customized quality time with customers Thanks to the likes of Google and Amazon, consumers have become accustomed to individualized interactions with firms they utilize. And this desire is just as present when it comes to their financial institution. But banks, credit unions and fintechs have been historically slow to respond. According to a recent Capgemini study, 70% of US consumers feel like their financial institution doesn’t understand their needs. The most dynamic financial marketing teams tailor quality experiences that increase consumer engagement and long-term relationships. All the channels, all the time The financial marketer’s job doesn’t stop at creating bespoke experiences for customers. Firms are also having to leverage an omnichannel approach to reach these clients, across an ever-growing number of channels and touchpoints. If that wasn’t enough, campaign cycles are shortening to match consumers changing demands and need for instant gratification—again, thanks Amazon. But the best teams determine which media or interaction resonates most effectively with clients, whether face-to-face, via an app, chatbot, or social media and have conversations across all of them seamlessly. It’s clear, financial firms must transform their approach to address increasing market complexity without increasing costs. Financial marketers are saddled with stagnant marketing budgets, proliferating media channels and shorter campaign cycles, with an expectation to continue delivering results. It’s a very tall order, especially if your financial institution is not leveraging data, analytics and insights as the differentiators they could be. CMOs and their marketing teams must invest in new technologies, strategies and data sources that best reflect the expectations of their customers. How is your bank or credit union responding to these financial marketing challenges? Watch our 2020 Credit Marketing Trends On-Demand Webinar
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus at nisl nunc. Sed et nunc a erat vestibulum faucibus. Sed fermentum placerat mi aliquet vulputate. In hac habitasse platea dictumst. Maecenas ante dolor, venenatis vitae neque pulvinar, gravida gravida quam. Phasellus tempor rhoncus ante, ac viverra justo scelerisque at. Sed sollicitudin elit vitae est lobortis luctus. Mauris vel ex at metus cursus vestibulum lobortis cursus quam. Donec egestas cursus ex quis molestie. Mauris vel porttitor sapien. Curabitur tempor velit nulla, in tempor enim lacinia vitae. Sed cursus nunc nec auctor aliquam. Morbi fermentum, nisl nec pulvinar dapibus, lectus justo commodo lectus, eu interdum dolor metus et risus. Vivamus bibendum dolor tellus, ut efficitur nibh porttitor nec. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Maecenas facilisis pellentesque urna, et porta risus ornare id. Morbi augue sem, finibus quis turpis vitae, lobortis malesuada erat. Nullam vehicula rutrum urna et rutrum. Mauris convallis ac quam eget ornare. Nunc pellentesque risus dapibus nibh auctor tempor. Nulla neque tortor, feugiat in aliquet eget, tempus eget justo. Praesent vehicula aliquet tellus, ac bibendum tortor ullamcorper sit amet. Pellentesque tempus lacus eget aliquet euismod. Nam quis sapien metus. Nam eu interdum orci. Sed consequat, lectus quis interdum placerat, purus leo venenatis mi, ut ullamcorper dui lorem sit amet nunc. Donec semper suscipit quam eu blandit. Sed quis maximus metus. Nullam efficitur efficitur viverra. Curabitur egestas eu arcu in cursus. H1 asdf asdf H2 H3 H4 Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vestibulum dapibus ullamcorper ex, sed congue massa. Duis at fringilla nisi. Aenean eu nibh vitae quam auctor ultrices. Donec consequat mattis viverra. Morbi sed egestas ante. Vivamus ornare nulla sapien. Integer mollis semper egestas. Cras vehicula erat eu ligula commodo vestibulum. Fusce at pulvinar urna, ut iaculis eros. Pellentesque volutpat leo non dui aliquet, sagittis auctor tellus accumsan. Curabitur nibh mauris, placerat sed pulvinar in, ullamcorper non nunc. Praesent id imperdiet lorem. H5 Curabitur id purus est. Fusce porttitor tortor ut ante volutpat egestas. Quisque imperdiet lobortis justo, ac vulputate eros imperdiet ut. Phasellus erat urna, pulvinar id turpis sit amet, aliquet dictum metus. Fusce et dapibus ipsum, at lacinia purus. Vestibulum euismod lectus quis ex porta, eget elementum elit fermentum. Sed semper convallis urna, at ultrices nibh euismod eu. Cras ultrices sem quis arcu fermentum viverra. Nullam hendrerit venenatis orci, id dictum leo elementum et. Sed mattis facilisis lectus ac laoreet. Nam a turpis mattis, egestas augue eu, faucibus ex. Integer pulvinar ut risus id auctor. Sed in mauris convallis, interdum mi non, sodales lorem. Praesent dignissim libero ligula, eu mattis nibh convallis a. Nunc pulvinar venenatis leo, ac rhoncus eros euismod sed. Quisque vulputate faucibus elit, vitae varius arcu congue et. Ut maximus felis quis diam accumsan suscipit. Etiam tellus erat, ultrices vitae molestie ut, bibendum id ipsum. Aenean eu dolor posuere, tincidunt libero vel, mattis mauris. Aliquam erat volutpat. Sed sit amet placerat nulla. Mauris diam leo, iaculis eget turpis a, condimentum laoreet ligula. Nunc in odio imperdiet, tincidunt velit in, lacinia urna. Aenean ultricies urna tempor, condimentum sem eget, aliquet sapien. Ut convallis cursus dictum. In hac habitasse platea dictumst. Ut eleifend eget erat vitae tempor. Nam tempus pulvinar dui, ac auctor augue pharetra nec. Sed magna augue, interdum a gravida ac, lacinia quis erat. Pellentesque fermentum in enim at tempor. Proin suscipit, odio ut lobortis semper, est dolor maximus elit, ac fringilla lorem ex eu mauris. Phasellus vitae elit et dui fermentum ornare. Vestibulum non odio nec nulla accumsan feugiat nec eu nibh. Cras tincidunt sem sed lacinia mollis. Vivamus augue justo, placerat vel euismod vitae, feugiat at sapien. Maecenas sed blandit dolor. Maecenas vel mauris arcu. Morbi id ligula congue, feugiat nisl nec, vulputate purus. Nunc nec aliquet tortor. Maecenas interdum lectus a hendrerit tristique. Ut sit amet feugiat velit. Test Yes asedtsdfd asdf asdf adsf Related Posts
With the National Automobile Dealers Association (NADA) Show set to kickoff later this week, it seemed fitting to explore how the shifting dynamics of the used vehicle market might impact dealers and buyers over the coming year. Shedding light on some of the registration and finance trends, as well as purchasing behaviors, can help dealers and manufacturers stay ahead of the curve. And just like that, the Special Report: Automotive Consumer Trends Report was born. As I was sifting through the data, one of the trends that stood out to me was the neck-and-neck race between Millennials and Gen X for supremacy in the used vehicle market. Five years ago, in 2019, Millennials were responsible for 33.3% of used retail registrations, followed by Gen X (29.5%) and Baby Boomers (26.8%). Since then, Baby Boomers have gradually fallen off, and Gen X continues to close the already minuscule gap. Through October 2024, Millennials accounted for 31.6%, while Gen X accounted for 30.4%. But trends can turn on a dime if the last year offers any indication. Over the last rolling 12 months (October 2023-October 2024), Gen X (31.4%) accounted for the majority of used vehicle registrations compared to Millennials (30.9%). Of course, the data is still close, and what 2025 holds is anyone’s guess, but understanding even the smallest changes in market share and consumer purchasing behaviors can help dealers and manufacturers adapt and navigate the road ahead. Although there are similarities between Millennials and Gen X, there are drastic differences, including motivations and preferences. Dealers and manufacturers should engage them on a generational level. What are they buying? Some of the data might not come as a surprise but it’s a good reminder that consumers are in different phases of life, meaning priorities change. Over the last rolling 12 months, Millennials over-indexed on used vans, accounting for more than one-third of registrations. Meanwhile, Gen X over-indexed on used trucks, making up nearly one-third of registrations, and Gen Z over-indexed on cars (accounting for 17.1% of used car registrations compared to 14.6% of overall used vehicle registrations). This isn’t surprising. Many Millennials have young families and may need extra space and functionality, while Gen Xers might prefer the versatility of the pickup truck—the ability to use it for work and personal use. On the other hand, Gen Zers are still early in their careers and gravitate towards the affordability and efficiency of smaller cars. Interestingly, although used electric vehicles only make up a small portion of used retail registrations (less than 1%), Millennials made up nearly 40% over the last rolling 12 months, followed by Gen X (32.2%) and Baby Boomers (15.8%). The market at a bird’s eye view Pulling back a bit on the used vehicle landscape, over the last rolling 12 months, CUVs/SUVs (38.9%) and cars (36.6%) accounted for the majority of used retail registrations. And nearly nine-in-ten used registrations were non-luxury vehicles. What’s more, ICE vehicles made up 88.5% of used retail registrations over the same period, while alternative-fuel vehicles (not including BEVs) made up 10.7% and electric vehicles made up 0.8%. At the finance level, we’re seeing the market shift ever so slightly. Since the beginning of the pandemic, one of the constant narratives in the industry has been the rising cost of owning a vehicle, both new and used. And while the average loan amount for a used non-luxury vehicle has gone up over the past five years, we’re seeing a gradual decline since 2022. In 2019, the average loan amount was $22,636 and spiked $29,983 in 2022. In 2024, the average loan amount reached $28,895. Much of the decline in average loan amounts can be attributed to the resurgence of new vehicle inventory, which has resulted in lower used values. With new leasing climbing over the past several quarters, we may see more late-model used inventory hit the market in the next few years, which will most certainly impact used financing. The used market moving forward Relying on historical data and trends can help dealers and manufacturers prepare and navigate the road ahead. Used vehicles will always fit the need for shoppers looking for their next vehicle; understanding some market trends will help ensure dealers and manufacturers can be at the forefront of helping those shoppers. For more information on the Special Report: Automotive Consumer Trends Report, visit Experian booth #627 at the NADA Show in New Orleans, January 23-26.
The automotive industry is constantly changing. Shifting consumer demands and preferences, as well as dynamic economic factors, make the need for data-driven insights more important than ever. As we head into the National Automobile Dealers Association (NADA) Show this week, we wanted to explore some of the trends in the used vehicle market in our Special Report: State of the Automotive Finance Market Report. Packed with valuable insights and the latest trends, we’ll take a deep dive into the multi-faceted used vehicle market and better understand how consumers are financing used vehicles. 9+ model years grow Although late-model vehicles tend to represent much of the used vehicle finance market, we were surprised by the gradual growth of 9+ model year (MY) vehicles. In 2019, 9+MY vehicles accounted for 26.6% of the used vehicle sales. Since then, we’ve seen year-over-year growth, culminating with 9+MY vehicles making up a little more than 30% of used vehicle sales in 2024. Perhaps more interesting though, is who is financing these vehicles. Five years ago, prime and super prime borrowers represented 42.5% of 9+MY vehicles, however, in 2024, those consumers accounted for nearly 54% of 9+MY originations. Among the more popular 9+MY segments, CUVs and SUVs comprised 36.9% of sales in 2024, up from 35.2% in 2023, while cars went from 44.3% to 42.9% year-over-year and pickup trucks decreased from 15.9% to 15.6%. 2024 highlights by used vehicle age group To get a better sense of the overall used market, the segments were broken down into three age groups—9+MY, 4-8MY, and current +3MY—and to no surprise, the finance attributes vary widely. While we’ve seen the return of new vehicle inventory drive used vehicle values lower, it could be a sign that consumers are continuing to seek out affordable options that fit their lifestyle. In fact, the average loan amount for a 9+MY vehicle was $19,376 in 2024, compared to $24,198 for a vehicle between 4-8 years old and $32,381 for +3MY vehicle. Plus, more than 55% of 9+MY vehicles have monthly payments under $400. That’s not an insignificant number for people shopping with the monthly payment in mind. In 2024, the average monthly payment for a used vehicle that falls under current+3MY was $608. Meanwhile, 4-8MY vehicles came in at an average monthly payment of $498, and 9+MY vehicles had a $431 monthly payment. Taking a deeper dive into average loan amounts based on specific vehicle types—as of 2024, current +3MY cars came in at $28,721, followed by CUVs/SUVs ($31,589) and pickup trucks ($40,618). As for 4-8MY vehicles, cars came in with a loan amount of $22,013, CUVs/SUVs were at $23,133, and pickup trucks at $31,114. Used 9+MY cars had a loan amount of $19,506, CUVs/SUVs came in at $17,350, and pickup trucks at $22,369. With interest rates remaining top of mind for most consumers as we’ve seen them increase in recent years, understanding the growth from 2019-2024 can give a holistic picture of how the market has shifted over time. For instance, the average interest rate for a used current+3MY vehicle was 8.0% in 2019 and grew to 10.2% in 2024, the average rate for a 4-8MY vehicle went from 10.3% to 12.9%, and the average rate for a 9+MY vehicle increased from 11.4% to 13.8% in the same time frame. Looking ahead to the used vehicle market It’s important for automotive professionals to understand and leverage the data of the used market as it can provide valuable insights into trending consumer behavior and pricing patterns. While we don’t exactly know where the market will stand in a few years—adapting strategies based on historical data and anticipating shifts can help professionals better prepare for both challenges and opportunities in the future. As used vehicles remain a staple piece of the automotive industry, making informed decisions and optimizing inventory management will ensure agility as the market continues to shift. For more information, visit us at the Experian booth (#627) during the NADA Show in New Orleans from January 23-26.
In this article…
typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.