A recent Experian Automotive analysis found that consumers who purchased an alternative-powered vehicle did not just go Green by cutting back on fuel; they also used more green (cash) to purchase it. The study showed that more than 18% of consumers who purchased a Green vehicle paid in cash, compared with 15.24% of those who purchased a gas-powered vehicle. Additionally, the average credit score of a consumer purchasing Green was 737, compared with 711 for traditional vehicles.
By gaining insight into the different market segments and understanding the latest consumer credit trends, lenders can adjust strategies and make more-informed decisions.
>> Infographic: A breakdown of the alternative-power-vehicle market