Auto Finance News
  • Home
  • News
  • Features
  • Events
    • Auto Finance Summit East
    • Equipment Finance Connect
    • Auto Finance Summit
    • PowerSports Finance Summit
  • Webinar
    • Harnessing AI & Machine Learning to Address Vehicle Affordability Issues
    • Webinar Library
  • Podcast
  • Powersports
  • Big Wheels Data

No products in the cart.

Subscribe
  • Capital & Funding
  • Compliance
  • Risk
  • Technology
  • Best Practices
  • Compliance Monitor
Log In
No Result
View All Result
Auto Finance News
  • Home
  • News
  • Features
  • Events
    • Auto Finance Summit East
    • Equipment Finance Connect
    • Auto Finance Summit
    • PowerSports Finance Summit
  • Webinar
    • Harnessing AI & Machine Learning to Address Vehicle Affordability Issues
    • Webinar Library
  • Podcast
  • Powersports
  • Big Wheels Data
BIG Wheels
Log In
No Result
View All Result
Auto Finance News
No Result
View All Result

Podcast: ‘Weekly Wrap’ on GM Financial, CAC earnings

Listen as AFN editors break down top stories from the past week

Riley WolfbauerbyRiley Wolfbauer
February 5, 2024
in Earnings
Reading Time: 4 mins read
0

Earnings season continued last week with GM Financial and Credit Acceptance Corp. reporting a rise in originations and worsened consumer credit performance. 

Lease penetration grew for GM Financial in the fourth quarter as the captive tallied a 22% year-over-year increase in lease originations to $4.3 billion. The captive’s loan originations were flat YoY at $8.3 billion. 

Credit performance on GM Financial’s portfolio declined but remained below historical levels. Accounts 30 to 60 days delinquent clocked in at 2.3%, up 20 basis points (bps) YoY, and accounts 90 days past due sat at 0.8%, up 10 bps YoY. 

Meanwhile, Credit Acceptance Corp.’s consumer loan assignments — or originations — increased 26.7% YoY on a unit volume basis to 78,652 contracts. The lender set a company record for outstandings as adjusted loan receivables increased 14.6% YoY to $7.8 billion. 

CAC is focused on its goal as a “growth company” and on tapping into the lender’s large dealer base and sales force, Chief Executive Ken Booth previously told Auto Finance News.   

In this episode of the “Weekly Wrap,” Auto Finance News Deputy Editor Amanda Harris breaks down the top stories for the week ended Feb. 2, and what’s in store for the week ahead.

Subscribe to “The Roadmap Podcast” on iTunes or Spotify, or download the episode. 

Early-bird registration is now available for the second annual Auto Finance Summit East 2024, May 1-3 in Nashville, Tenn., which gathers lenders, dealers and fintech innovators in an event designed to bring the power of technology to a cross-section of industry players. Early-bird pricing ends March 15. Visit AutoFinance.Live to learn more. 

Transcript:      

Editor’s note: This transcript has been generated by software and is being presented as is. Some transcription errors may remain.   

Amanda Harris Hello everyone, and welcome to The Roadmap from Auto Finance News, since 1996 the nation’s leading newsletter on automotive lending and leasing. It is Monday, Feb. 5, and I’m Amanda Harris. This is our weekly wrap on what happened in auto finance for the week ending Feb. 2, 2024.
In economic news, The Federal Reserve held interest rates steady for the fourth straight meeting and signaled its openness to cutting them, though not necessarily right away. The decision to leave the target range for the benchmark federal funds rate unchanged at a 22-year-high of 5.25% to 5.5% was unanimous. While officials said employment and inflation goals are moving in positive directions, rates will not be dropped until there is more confidence in inflation moving sustainably toward 2%.
In powersports, manufacturer Polaris increased promotional activity in the fourth quarter amid heavy discounting by competitors as inventory has recovered while North American sales increased. Polaris offered more promotions to compete with competitors discounting 2023 models in Q4. As a result, North American retail unit sales increased 7% year over year, driven by utility and snow units.
In auto finance, GM Financial and Credit Acceptance Corp reported fourth-quarter earnings.
GM Financial saw an improved lease penetration rate which led to increased lease originations. U.S. retail sales that were leased rose to 16.2% compared with 13.9% in Q4 2022 and Lease originations increased 22% year over year to $4.3 billion.
Loan originations clocked in at $8.3 billion, flat YoY. Total consumer originations landed at $12.6 billion in Q4, down 9% sequentially but up 6.6% YoY. Loan and lease outstandings came in at $103.3 billion, flat compared with Q3 and up 5.4% YoY.
Credit Acceptance Corp. tallied a rise in originations for the seventh consecutive quarter as compressed margins and stricter access to capital prompted other lenders to scale back auto loan production. Consumer loan assignments — or originations — came in just above 78,600 contracts in the fourth quarter, an increase of 26.7% year over year on a unit volume basis and up 21.3% on a dollar basis.
CAC’s outstandings set a record for the company during the quarter, Chief Executive Ken Booth told Auto Finance News.
The lender’s adjusted loan receivables — or outstandings — clocked in at $7.8 billion at the end of the quarter, up 3.1% sequentially and 14.6% YoY, according to the release. Group 1 Automotive kicked off retailer earnings last week with an increase in finance and insurance profits. The retailer’s finance and insurance (F&I) revenue came in at $187.1 million in Q4, increasing 8.3% year over year, according to the company’s earnings release. F&I gross profit per retail unit sold (GP PRU) remained flat YoY at $2,068.
However, finance penetration in the retailer’s US stores ticked down to 68% in 2023, down compared with 70% in 2022.
This past weekend, I also attended the National Automotive Dealers Association conference in Las Vegas. Talks spanned F&I profitability, affordability concerns, refinance and leasing upticks, digital retailing, and risk management. Stay tuned as we share coverage from the show this week. That about does it for today’s episode. Thanks for joining us on the roadmap and be sure to follow us on X, formerly known as Twitter, and LinkedIn. We will see you online at autofinance news.net and here next time.
Tags: auto originationsauto outstandingsCredit Acceptance Corp.delinquenciesGM FinancialWeekly Wrap
Previous Post

Under the Hood: Low-income borrowers face payment struggle

Next Post

CULA’s Chandler puts leasing at 40% by 2025 

Related Posts

vroom app
Earnings

UACC originations rise 16% 

May 16, 2025
(From left: Fimanco President and Chief Executive Bruce Newmark, CPS VP of Risk Robert DeJarnette, Tricolor Holdings Chief Customer Officer Eduardo Perez, FinBe Chief Executive Scot Seagrave and Arivo Acceptance Chief Technical Officer Charles King.)
Earnings

CPS taps ‘resilient’ customers as originations rise 30.3%

May 14, 2025
Carvana
Earnings

Carvana originations rise 44.1% 

May 8, 2025
Next Post
close up new cars on lot

CULA’s Chandler puts leasing at 40% by 2025 

Stay Informed with Our Newsletters

PowerSports Finance

The Roadmap Podcast

ABOUT US

HELP CENTER

ADVERTISE

PRIVACY TERMS

ADA COMPLIANCE

CODE OF JOURNALISM ETHICS

Manage Cookie Consent

EXECUTIVES OF THE YEAR

AUTO FINANCE EXCELLENCE AWARDS

MAGAZINE ARCHIVE

INDUSTRY GLOSSARY

facebook linkedin twitter podcast podcast
© 2025 Royal Media
No Result
View All Result
  • Home
  • News
    • All News
    • Capital & Funding
    • EVs
    • Technology
    • Management
    • Powersports Finance News
    • Risk Management
    • Sales & Marketing
  • Events
    • Auto Finance Summit East
    • Equipment Finance Connect
    • Auto Finance Summit
    • PowerSports Finance Summit
  • Features
    • Latest Issue
    • Features
    • New Tracks
    • Car Culture
    • Staffing Shuffles
    • Under The Hood
    • Spotlight
    • Issue Archive
  • Webinar
  • Podcast
  • Big Wheels Data
  • SUBSCRIBE
  • Log In / Account

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • All News
    • Capital & Funding
    • EVs
    • Technology
    • Management
    • Powersports Finance News
    • Risk Management
    • Sales & Marketing
  • Events
    • Auto Finance Summit East
    • Equipment Finance Connect
    • Auto Finance Summit
    • PowerSports Finance Summit
  • Features
    • Latest Issue
    • Features
    • New Tracks
    • Car Culture
    • Staffing Shuffles
    • Under The Hood
    • Spotlight
    • Issue Archive
  • Webinar
  • Podcast
  • Big Wheels Data
  • SUBSCRIBE
  • Log In / Account

THIS WEBSITE USES COOKIES

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I CONSENT”, you consent to the use of ALL the cookies.

Cookie settingsI CONSENT

Review our Cookie Policies
.
Manage Cookie Consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
34f6831605sessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
a64cedc0bfsessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
CookieConsentPolicy1 yearUsed to apply end-user cookie consent preferences set by our client-side utility.
cookielawinfo-checkbox-advertisement1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
crmcsrsessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
JSESSIONIDsessionThe JSESSIONID cookie is used by New Relic to store a session identifier so that New Relic can monitor session counts for an application.
LS_CSRF_TOKENsessionCloudflare sets this cookie to track users’ activities across multiple websites. It expires once the browser is closed.
LSKey-c$CookieConsentPolicy1 yearUsed to apply end-user cookie consent preferences set by our client-side utility.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
CookieDurationDescription
__cf_bm30 minutesThis cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
_zcsr_tmpsessionZoho sets this cookie for the login function on the website.
663a60c55dsessionThis cookie is related to Zoho (Customer Service) Chatbox
e188bc05fesessionThis cookie is set in relation to Zoho Campaigns
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
CookieDurationDescription
_ga2 yearsThe _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_gid1 dayInstalled by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
CONSENT2 yearsYouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.
vuid2 yearsVimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
CookieDurationDescription
__Host-GAPS2 yearsThis cookie allows the website to identify a user and provide enhanced functionality and personalisation.
_dc_gtm_UA-1038974-31 minuteUsed to help identify the visitors by either age, gender, or interests by DoubleClick - Google Tag Manager.
_fbp3 monthsThis cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website.
fr3 monthsFacebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin.
test_cookie15 minutesThe test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE5 months 27 daysA cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface.
YSCsessionYSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages.
yt-remote-connected-devicesneverYouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt-remote-device-idneverYouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt.innertube::nextIdneverThis cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requestsneverThis cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
CookieDurationDescription
caf_ipaddrsessionNo description available.
citysessionNo description available.
countrysessionNo description available.
gnt_eidsessionNo description available.
gnt_eu6 hoursNo description
iamcsrsessionZoho (Customer Support) sets this cookie and is used for tracking visitors (for performance purposes)
systemsessionNo description available.
traffic_targetsessionNo description available.
Save & Accept
Powered by CookieYes Logo