Hyundai Capital America Seeks to Double Dealer Floorplan Volume, CEO Says | Auto Finance News Hyundai Capital America Seeks to Double Dealer Floorplan Volume, CEO Says | Auto Finance News
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Hyundai Capital America Seeks to Double Dealer Floorplan Volume, CEO Says

Nicole Casperson by Nicole Casperson
October 26, 2018
in Uncategorized
Reading Time: 1min read

LAS VEGAS — Hyundai Capital America, which has $2 billion of dealer floorplan loans outstanding, is looking to double that business, HCA President and Chief Executive Ross Williams said during the 18th Annual Auto Finance Summit today.

“Not by next year, it will likely take a few years to reach that goal,” he said. In addition to doubling the size of its floorplan business, HCA aims to boost its internal efficiencies by reducing employee headcount and looking for opportunities to outsource functions.

As for top priorities going forward, Williams said: “I want a healthy portfolio, I want to support the Genesis brand. And [I want to] become more efficient.”

The three main initiatives include recapitalizing the business by increasing the portion of equity relative to debt, shifting incremental funding from secured debt to unsecured debt, and bolstering the captive’s overall liquidity profile.

Williams said HCA is also keeping an eye on changing market conditions and on innovation, such as subscription services. He also looks to certified preowned business as an opportunity in 2019. 

Tags: Auto Finance Summitdealer loansgenesisHyundai Capital Americaross williams
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