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Jim Henry

Emerging Debate: Incentives and Discounting Too High?

Blockbuster yearend sales were “more push versus  pull,” said Mike Jackson, chairman of the nation’s largest auto retailer, AutoNation Inc. Jackson warned investors in a note last week that AutoNation expects “significant margin declines” for the fourth quarter. He said the group would take “necessary steps” in 2016 “to align our costs, inventory, and pricing strategy.” […]

Auto Finance and U.S. Economy Look Good for 2016, Economist Says

The 2016 forecast is set for smooth sailing for the U.S. economy in general and for auto finance in particular, said Emily Kolinski Morris, Ford Motor Co. chief economist, in a conference call on Tuesday. Many of the “favorable factors” that produced record sales in 2015 — such as low fuel prices, a rebounding labor market, improved housing […]

Dueling Press Releases: Hedge Fund Parries Ally Statement

Hedge fund Lion Point Capital has responded to a press release issued earlier this week by Ally Financial, in which Ally complained Lion Point was trying to get the bank to form a “strategic alternatives committee” for Ally to consider selling itself. New York-based Lion Point responded on Wednesday that a potential sale is only one […]

Auto Loan Risk Worries U.S. Comptroller

Easier credit standards and a high concentration of auto loans at banks have the Office of the Comptroller of the Currency increasing its “focus” on auto finance in 2016 as a potential source of risk to the financial system overall. “Underwriting practices and weak loan structures in auto lending are most concerning in banks with high concentrations of auto loans,” […]

McLaren Signs Up with Ally Financial

Exotic automaker McLaren Automotive North America signed up Ally Financial as a preferred lender to provide loans and leases for McLaren 570S and 650S models, the companies announced today. “The availability of leasing comes at a critical time for McLaren as we begin to deliver the 570S Coupe, which enters a segment where lease availability […]

VW Captive Ends 2015 Higher, Despite Dieselgate

Volkswagen Financial Services expects outstandings to grow about 5.8% worldwide for 2015, despite the VW diesel emissions scandal, which surfaced in September and cut into sales. The captive forecasts around 13.1 million loan and lease contracts at yearend. VWFS had “excellent business performance until late summer of this year,” the lender said in a written statement in […]
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