Earnings
Podcast: ‘Weekly Wrap’ on Q1 earnings kickoff
First-quarter earnings kicked off last week with banks reporting a decline in auto originations. Chase Auto and Wells Fargo Auto’s...
Wells Fargo Auto originations decline 18%
Wells Fargo Auto tallied a dip in origination volume during the first quarter as the bank’s auto book continued to...
Chase Auto originations tick down 3%
Chase Auto’s first-quarter originations dipped year over year as the bank prioritized margins. Auto originations totaled $8.9 billion in...
Credit tightening at CarMax Auto Finance paves way for ACL reduction
Ongoing credit tightening at CarMax Auto Finance paved the way for allowance for credit loss reductions as the lender’s portfolio...
CPS prioritizes servicing and collection efforts as DQs rise
Consumer Portfolio Services is focusing on building its servicing and collections practices as the company works to get ahead of...
Vroom repays Ally Financial, nears e-commerce wind-down completion
Vroom has paid the balance on its floorplan facility with Ally Financial, sold nearly all of its used-vehicle inventory, cut...
EV maker Workhorse seeks funding, cuts 20% of staff
Commercial electric truck manufacturer Workhorse has cut 20% of its staff and is working to shore up funding to maintain...
America’s Car-Mart completes LOS rollout
Buy here, pay here car dealer and financier America’s Car-Mart completed the rollout of its loan origination system in the...
