It is clear with the release today of the 2014 Auto Finance Big Wheels ranking of the top auto finance companies that the battle between these two companies — headquartered on opposite sides of the nation — has only intensified.
Ally, still working to shed its government shadow, came in No. 1 in auto finance outstandings for 2013, according to the report. It did so by growing its auto finance portfolio more than 10% last year to $74.1 billion.
Meanwhile, Toyota pumped up its originations by nearly 18% to take No. 1 in total loan and leases made last year, originating nearly $40.1 billion of auto finance paper in 2013.
In 2012, the story was a bit different. Ally was No. 1 in originations, and it just barely edged out Toyota for No. 1 in outstandings, too — by $71 million. That $71 million is but 0.1% of Ally’s $67.3 billion of total outstandings.
It appears as though this back-and-forth between Ally and Toyota will continue. No. 3 in outstandings is Chase Auto Finance, but Chase had $52.8 billion of auto outstandings last year, a ways off from Toyota and Ally.
See additional coverage from the 2014 Big Wheels here.