This article originally appeared on Prodigal's blog. It's reposted here with permission.

Measured by revenue, the market size of the U.S. auto finance industry was $151 billion in September 2022. By year end, the auto finance industry is projected to have grown by 8.2% – more than two and half times higher than the industry’s 2.9% average growth rate between 2017 and 2022.

While these numbers paint an optimistic picture, in reality, this is an uncertain time for auto lending. Overall economic growth is slowing, customer expectations are on the rise, and the demand for digital auto lending is increasing. Any one of these unique factors makes predicting how the auto finance industry will fair in 2023 and beyond is difficult to determine.

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