Wells Fargo reported that auto loans outstanding increased at an 8.5% rate on a year-over-year basis in Q2 2013 but auto loan abs issuance has not kept pace.
The amount of auto loans outstanding has returned to precrisis levels. However auto loans funded via the term ABS market declined to 10.7% in Q2 2013 from 15.2% in 2007, the last time auto loans outstanding increased to the level seen today.
Wells Fargo said that despite the lag between auto loans outstanding and auto loan abs issuance, it still expects auto ABS issuance to represent the largest share of the market until other leding segments recover more fully.
