Capital Markets | Auto Finance News - Part 3

Uber Makes IPO Case That It’s About the Platform, Not the Losses

Uber Technologies Inc., the current era’s archetypal startup, moved toward becoming a public company Thursday, revealing that it racked up a $3 billion operating loss last year and hoping potential investors will look beyond that. Less than two years after being tapped to take Uber to its initial public offering destination, Chief Executive Officer Dara […]

Used-Vehicle Prices Should Withstand Influx of Off-Lease Volume, Analyst Says

WASHINGTON, D.C. — Despite bearish calls in the automotive industry spurred by an expected influx of off-lease volume, consumer demand for replacement vehicles should keep used-car prices stable, Mike Wall, executive director of automotive analysis at IHS Markit, said in a session at CBA Live this week. Approximately 28% to 30% of retail automotive sales are leases, […]

An Explanation of Delinquency Rate Discrepancies Between S&P and the N.Y. Fed

Inclusion of charge-offs when calculating 90-day delinquencies may spell the difference between the 4.47% rate reported by the New York Federal Reserve and the 1.86% subprime rate recorded by S&P Global Ratings at yearend 2018. According to the data dictionary in the N.Y. Fed’s research, delinquency data includes “severely derogatory” accounts, or those with reports […]

Carvana Prices Inaugural Securitization

Online used-car retailer Carvana priced its inaugural asset-backed securitization on March 27, 2019. “The transaction was squarely in line with our expectations for an inaugural deal, yielding strong proceeds and leaving a clear path toward achieving our long-term goals,” Chief Executive Ernie Garcia said in a press release. The $338.8 million securitization consists of notes backed by […]

3 Themes to Watch in April

Last month, compliance and operations stories dominated the ranks as Auto Finance News’ most-read March stories. Below are AFN's top three themes to monitor, as determined by the six most-read stories in March. TCPA Settlements As the auto regulatory environment continues to heat up with stiffer oversight on both state and federal levels, TCPA settlements […]

Lyft Stock Starts Trading on Nasdaq

Rideshare giant Lyft began trading on the Nasdaq Global Select Market today, raising $2.3 billion in its initial public offering. Lyft sold 32.5 million shares at $72 per share. The stock is trading under the ticker "LYFT." As of 12:15 p.m. Eastern Time, the stock was trading at $84.25 per share, up 17% from the […]
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