Generation Z has money on their minds, and as their appetite for personal finance grows, financial institutions better be ready.

In Experian’s Automotive Market Trends Review: Q2 2021, we looked at the data to better understand EV and internal combustion engine registration trends.

Dealers and agencies should use this time to evaluate advertising strategies, continue to market to consumers and plan for life after the chip shortage.

Shri Santhanam, Executive VP and GM of Experian's Global Analytics and Artificial Intelligence talks advanced analytics and AI in lending in recent podcast.

A look at how automotive manufacturers and dealers have used strategic marketing over the last few decades.

The AutoCheck FREE Flood Risk Check site has been updated with Hurricane Ida information New cars have been in short supply due to the worldwide microchip shortage, so consumers quickly turned their attention to used cars. Unfortunately, dealers continue to struggle with obtaining enough used car inventory to meet demand. To add to an already challenging year, Hurricane Ida hit the gulf coast in August resulting in an estimated 250,000 cars sustaining flood damage. It’s more important than ever that dealers be careful about obtaining pre-owned cars that could potentially have flood damage. The best way to mitigate the risk of purchasing a flood damaged vehicle is to start by running an AutoCheck Free Flood Risk Check. Visitors simply enter any vehicle's 17-digit VIN and the tool will check for flood brands and provide information if the vehicle was registered in a region impacted by a FEMA disaster declaration. Two levels of reporting available The first level of reporting determines whether the vehicle has been titled/registered 12 months prior in a county that has been identified as requiring public and individual assistance (FEMA categories A and B) for a FEMA-declared major disaster. This would yield a “Yes” result. For instance, you would get a “Yes” result if the vehicle was registered in an impacted area during the time of a FEMA-declared major disaster like Hurricane Ida. The “Yes” result should not be interpreted as confirmation of flood damage or even possible flood damage. The data is provided merely as information regarding the location of the vehicle’s registration/title history so users can be aware of risk exposure. For example, the Hurricane Ida region had thousands of damaged cars, but some cars in the region may not have been damaged by the hurricane — the owner could have driven the car when they evacuated, or a child or other family member may have been out of town with the car when the hurricane hit. The second level of reporting is based on search results from Experian data such as flood title and problem records, including flood State title brands, auction flood announcements, salvage auction flood designations, and other vehicle records determined by Experian to relate to or suggest an increased likelihood of flood damage or risk exposure. It takes time for claims and updates to vehicle title information to appear on a vehicle’s history and although the DMV requires that title brands be issued for vehicles damaged by floods, not every vehicle flood event is reported by car owners. Unreported flood events may not appear on an AutoCheck Flood Risk Check or AutoCheck Vehicle History Report. Although Experian provides flood related records from available data sources, we cannot provide assurance that an AutoCheck Flood Risk Check that does not produce any records means that the subject vehicle has not experienced flood damage. That’s why it’s important to review a full AutoCheck Vehicle History Report, which—in addition to potential flood damage—includes reported accidents, branded titles, recalls, number of owners and more. Once you run the full Vehicle History Report we recommend an independent evaluation and inspection of the vehicle to determine and confirm a vehicle’s condition prior to purchase. Try the AutoCheck Flood Risk Check today to help mitigate the risk of purchasing flood damaged vehicles. Not an AutoCheck subscriber?  Contact us to become an AutoCheck client.

Despite used vehicle prices rising, loan-to-value (LTVs) ratios are dropping. Ultimately, lower LTVs are a positive trend for consumers because it puts them into positive equity on their vehicle faster.

Experian has made the IDC 2021 Fintech Rankings Top 100, highlighting the best global providers of financial technology. Read more!

We spoke with the Head of Data Analytics at Nova Credit and Experian experts to explore the topic of DEI and how to break down financial inclusion barriers.

Incorporating artificial intelligence and machine learning into your business strategy can improve decisioning and reduce risk. Read more.

We’re excited to announce that the AutoCheck Member Website has received a facelift! AutoCheck has always been the industrial strength Vehicle History Report that automotive professionals trust to help manage risk and confidently buy and sell the right vehicles. We’ve made this great solution even greater by improving our Member Site user experience. Based on extensive research and user feedback, we’ve added many visual and workflow enhancements which make it easier for users to use the site. One noticeable change to the Member Website is the addition of Experian’s brand and color scheme. You’ll know right away that you’re accessing AutoCheck data backed by Experian, the industry experts for reliable data. The entire site is now mobile responsive—optimizing the experience for tablet and mobile users to provide even more shopping convenience. The new site will allow full functionality from a tablet or mobile device. As always, subscribers can continue to access AutoCheck reports via our mobile app or AutoCheck Fast Link℠ integration within their DMS, CRM, inventory management, online vehicle listings or many other integrated solutions. In addition, the AutoCheck Member Website is now WCAG 2.1 compliant. Web Content Accessibility Guidelines (WCAG) were developed to make web content more accessible to people with disabilities. This ‘web content’ usually refers to text, images and sounds on a webpage or web application. It also may include code that defines structure and presentation of the page of application. While a generated AutoCheck was already WCAG2.1 compliant, the entire member site now also meets the accessibility guidelines. AutoCheck Members can expect the same great functionality once they have signed into the site: Run single or multiple reports Print and email AutoCheck reports Print the Buyback Protection Certificate and the AutoCheck Score Sticker View the Track their 90-day usage Access AutoCheck brand materials including logos, videos and showroom materials Review Best Practices and Frequently Asked Questions Update account information …and much more! Below are a couple of examples which highlight the new user experience.   Already an AutoCheck Member? Contact us or call us at 1.888.409.2204 if you have any questions about navigating the redesigned website. Not an AutoCheck subscriber? Contact us to become an AutoCheck client and take advantage of all the benefits.

The importance of putting a sound data breach preparation plan in place for protecting your customers can’t be underscored enough.

Consumers continue to manage credit well and the average credit score climbed seven points since 2020 to 695, the highest point in more than 13 years.

Your local auto market changes every day. Today’s challenge is securing the inventory needed to keep new and repeat customers coming in the door. Tomorrow it might be finding the right customers for the inventory you have secured. Either way, understanding the competitive activity in your market is key to developing ongoing strategies for success. Important competitive insights include the ability to: • Gauge your performance against the competition by identifying each unit registered in your market • Discover what vehicles are popular among your consumers by make and model • Identify the key characteristics of customers in your area. In yet another benefit, Experian provides our AutoCheck Elite dealer clients with complimentary access to in-depth market reporting, including these comprehensive reports: The AutoCount Market Ranking Report Learn whether you’re getting your share of vehicle sales in your local market’s top zip codes. This report: • Lists all sales activity within a 15-mile radius of your dealership • Provides unbiased monthly information from state DMVs on new and used vehicle sales • Includes access to our web-based portal to provide instant access to a variety of customizable reports • Identifies vehicle registration by ZIP code to pinpoint marketing opportunities The AutoCount Vehicle Model Ranking Report Stock the right inventory by learning what vehicles are popular among your consumers (see example below). This report: • Provides an expanded view of the dealership’s market, which leads to more informed decisions that maximize untapped profit potential • Track the top 25 new and used vehicles within a 15-mile radius of your dealership as well as the top gainers and losers in the market • Offers an easy-to-read graphical summary of critical market information, including lender ranking • Gives an unbiased scorecard of dealership performance in the local market to determine market share and competitive insight Having access to monthly DMV reports and analysis can help deliver a competitive edge to your dealership. To become an AutoCheck member today, contact us or call 1.888.409.2204.

The automotive finance market is beginning to level out to pre-pandemic trends in Q2 2021.