Earnings | Auto Finance News - Part 2

Ford Credit loan performance offsets 2Q volume decline

Despite a decline in loan origination volume and lease penetration at Ford Motor Credit, Vice President and Chief Executive David McClelland credits an increase in second-quarter revenue to improving portfolio performance. U.S. loan contract placement volume dropped 26% year over year to 220,00 units, from 299,000. Similarly, lease placement dropped to 81,000 units from 104,000 […]

Santander drives up Chrysler Capital penetration rate, shuffles leadership

Santander Consumer USA increased its Chrysler Capital quarterly penetration rate as a leadership change will have Shawn Allgood head Chrysler Capital and auto relationships, the company announced in its second-quarter earnings.  Chrysler Capital’s quarterly penetration rate grew to 36%, compared with 32% during the prior-year period. Loans originated by subsidiary Chrysler Capital increased 25% year […]
  • Nicole Casperson
  • July 24, 2019
  • Earnings

Newly minted Daimler Mobility to focus on ride-hailing

To coincide with its rebranding to Daimler Mobility AG, the captive lender formerly known as Daimler Financial Services intends to continue expanding its mobility services, with an emphasis on ride-hailing, Harald Wilhelm, member of the board of management for finance and controlling and Daimler Mobility, said during the company’s second-quarter earnings call. Daimler Mobility will […]

Ally Financial expands used-car share, drives higher yields

Ally Financial‘s focus on used-vehicle originations is propping up its auto portfolio yields, according to the bank’s second-quarter earnings report. “First and second quarter tend to be our heavy used seasons,” Chief Financial Officer Jenn LaClair said on an earnings call yesterday. “And then Q3, and especially into Q4, we tend to have more of […]

Bank of America’s direct lending portal gains traction

Bank of America’s technology initiatives continue to gain traction with consumers, according to second-quarter earnings filed with the Securities and Exchange Commission. The bank's online portal drove 60% of direct auto loan applications, up from 55% back in February. Meanwhile, Bank of America’s AI-driven banking assistant, Erica, has experienced an increase in users, surpassing the […]

Wells Fargo, Chase boost auto originations in 2Q

Wells Fargo and JPMorgan Chase recorded auto origination levels last quarter unseen in several years, according to results filed with the Securities and Exchange Commission. Wells Fargo Auto originated $6.3 billion of loans last quarter, up 43% year over year and up 17% from a two-year high recorded last quarter. Outstandings for the San Francisco-based bank […]

Axis Auto Posts Quarterly Loss Amid Expansion Efforts

Axis Auto Finance recorded a $1.7 million net loss for the quarter ending March 31 despite doubling outstandings year over year, the Toronto lender reported last week. By comparison, Axis lost $400,000 in the prior-year period. Expansion across Canada on the heels of two acquisitions last year — Trend Financial Corp. and Cars on Credit Financial Inc.— propped up Axis […]
Page 2 of 70«12345 » 102030...Last »