Bank of America floorplan outstandings drop 13% as commitments increase

Photographer: Michael Short/Bloomberg

Bank of America is the latest auto lender to report decreased floorplan balances as constrained inventory continues to plague the industry. Floorplan balances dropped 36.3% year over year to $9.3 billion. That’s down 13.8% from last quarter’s balance of $10.8 billion, according to the bank’s Q3 earnings report. Still, the bank increased its commitment on […]

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