Wolters Kluwer’s Q3 Auto Finance Digital Transformation Index shows econtracting adoption slowed along with new-vehicle sales in the third quarter but continues to advance in year-over-year and four-year trends.

“Despite facing headwinds in the sales environment, the auto finance industry has demonstrated remarkable resilience and adaptability,” Head of Auto Strategy Tim Yalich said, in part, in a release announcing the latest report. “While consumer demand softened due to economic pressures, we’ve leveraged this period to accelerate our digital transformation initiatives for auto brands. By implementing advanced workflow automation and data analytics in back-office operations, we’ve uncovered significant efficiency gains across the entire value chain.”

The Auto Finance Digital Transformation Index was created to track the adoption of digital contracts and documentation workflows among auto finance sources as well as dealers and service providers.

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