For dealers and finance companies with business interests in the Midwest, Huntington Bank’s third annual Midwest Economic Index is offering an encouraging forecast for possible deliveries and originations.

The index showed 16 percent of consumers in the region definitely will purchase a vehicle in 2015. Huntington indicated the response represents a 10-percent increase over definite intent for vehicle purchases in 2014 and is a “clear sign of optimism” among consumers interviewed in Indiana, Michigan, Ohio, Pennsylvania and West Virginia.

“It’s still a great time to buy,” Huntington Auto Finance director Rich Porrello said. “Consumers are benefitting from low interest rates, high trade-in values and a wide range of manufacturer incentives.

“Add to that enthusiasm for an outstanding 2015 model year, falling gas prices and the ongoing economic recovery, and we’ll continue to see strong buyer demand throughout the year,” Porrello continued.

In comparison to consumers with definite plans to purchase a vehicle in 2014, the Midwest Economic Index revealed increases of 13 percent in West Virginia, 12 percent in western Pennsylvania, 11 percent in Indianapolis, 9 percent in Michigan and 8 percent in Ohio.

Referencing an IHS Automotive study based on Polk Co. registration data, Huntington pointed out the average vehicle on American roads continues to run more than 11 years old, leaving the industry poised for a sixth consecutive year of growth in the number of vehicles sold.

In line with this growth, Huntington experienced its fifth consecutive year of record loan production in 2014. With loans totaling $5.2 billion, Huntington financed more vehicle than any other time in its 60-year history serving the automotive industry.

During the year, Huntington added hundreds of dealers to its network, which now totals more than 3,700 dealers in 17 states.

Additionally, Huntington highlighted that it flourished in super-prime lending, serving dealers locally and delivering 70 percent of indirect loan decisions within 3 seconds or less.