While praising financing companies for their underwriting prowess, TransUnion’s latest auto report — viewed one quarter in arrears to ensure all accounts are included in the data — showed notable origination growth in the subprime risk tier.

Contracts extended to subprime buyers — those consumers with a VantageScore 3.0 credit score lower than 601 — increased 6.2 percent from Q4 2013, comprising 15 percent of newly originated contracts in Q4 2014.

While being able to look at data from this year for the metric, TransUnion also highlighted subprime delinquency rates increased just slightly from 5.14 percent in Q1 2014 to 5.19 percent in Q1 2015.

“The growth in both the number and size of new loans across all risk tiers reflects Americans’ continued appetite for new cars,” said Jason Laky, senior vice president and automotive business leader for TransUnion.

“As subprime originations grow, the delinquency rates have remained relatively steady,” Laky continued. “While lenders appear to be effectively managing risk across all credit risk tiers, consumers may also be benefitting from an improved employment environment.”

TransUnion’s latest report released this week also indicated more than 71 million consumers had an auto loan in Q1 2015, an increase of 1.2 million from Q1 2014 and the largest growth since the Great Recession.

Analysts also noticed consumers below age 30 experienced the largest increase, with 8.5 percent year-over-year growth.

In Q1 2015, TransUnion noticed auto loan delinquency rates (the ratio of borrowers 60 days or more delinquent on their vehicle installment contracts) remained steady at 0.99 percent, unchanged from Q1 2014.

On a quarterly basis, the delinquency rate dropped from 1.16 percent in Q4 2014, a decline of 14.6 percent.

“Even as more consumers have access to an auto loan or lease, we’re seeing a continued low level of delinquencies on a year-over-year and quarterly basis,” Laky said.

Laky went on to mention auto loan debt per borrower rose 3.8 percent from $16,865 in Q1 2014 to $17,508 in Q1 2015. On a quarterly basis, auto loan debt increased from $17,453 in Q4 2014, marking the 16th straight quarter of increases.

Geographically, TransUnion found auto loan balances rose in every state from Q1 2014 to Q1 2015.

Among the nation’s largest cities, Atlanta (up 5.9 percent) and Houston (up 5.4 percent) experienced the largest increases in auto loan balances, according to analysts.

Laky pointed out that Dallas, an oil-rich market, experienced a 1.7 percent decline in its delinquency rate, down from 1.05 percent in Q1 2014 to 1.03 percent in Q1 2015.

“We have yet to see a negative impact on auto lending in the areas with high exposure to the oil industry,” Laky said. “Loans and balances continue to grow, while delinquencies continue to remain in check.”

TransUnion recorded 66.1 million auto loan accounts as of Q1 2015, up from 64.8 million in Q4 2014. On a year-over-year basis, auto loan accounts increased 8.4 percent from 60.9 million in Q1 2014.

Analysts added new account originations increased 8.3 percent year-over-year to 6.2 million in Q4 2014, up from 5.7 million in Q4 2013.

“Following a harsh winter that dampened economic activity in parts of the U.S., the demand for auto loans remained strong,” Laky said.

Laky also mentioned the youngest consumer group — those below age 30 — continued to experience average balance growth in Q1 2015.

The average auto loan balance for this group was $14,995, up 3.1 percent from $14,550 in Q1 2014.

The number of younger consumers with an auto loan balance also grew in Q1.

Nearly 900,000 more of these consumers had an auto loan than in Q1 2014, an 8.5 percent year-over-year increase.