Wells Fargo Auto originations jump 70% YoY in Q3, set new record

The quarter also brought strong credit performance and a decline in commercial auto finance

Bloomberg

Wells Fargo Auto again posted record origination volume with third-quarter originations jumping 70.4% year over year to $9.2 billion. Origination volume also increased in Q2 by 48% YoY to $8.3 billion. “Despite strong consumer demand for autos, inventory shortages are putting downward pressure on industry sales and driving higher prices,” Wells Fargo Chief Financial Officer […]

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