Carvana tightens credit as wholesale profits drop 60%
Carvana has pumped the brakes on its stand-alone consumer vehicle purchase program and tightened credit standards for originations, Chief Executive...
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Leveraging Liquidity: Lenders brace for the coronavirus recession [Feature]
Auto financiers are bracing for the rocky road ahead as vehicle sales plummet, consumer demand tanks and expected credit losses...
GMF has $3.7B for potential residual value declines
GM Financial is gearing up for potential losses on off-lease residual values as the extent of the COVID-19 economic crisis'...
F&I revenues climb at Group 1, fall off at Asbury
Automotive retailers Asbury Automotive and Group 1 Automotive are increasing cash reserves as vehicle sales drop amid the coronavirus pandemic,...
S&P: Payment extensions spike in March
Auto loan extensions spiked in March in one of the first tangible effects the COVID-19 pandemic has had on the...
Fed: Big banks tighten credit standards on auto loans
Eight major banks tightened auto loan underwriting standards in the first quarter, according to the Federal Reserve’s Senior Loan Officer...
American Honda sales drop 54% in April, Hyundai close behind
Major automakers have reported sales declines of up to 54% for April alone, according to monthly sales figures released by...
CFPB: Auto loan apps drop 52% in March
Auto loan applications dropped 52% between the first and last week of March, with the COVID-19 economic crisis muting auto...
