Earnings
CarMax Auto Finance tightens underwriting, increases provisions
CarMax Auto Finance adjusted its underwriting standards and increased its credit loss provisions last quarter amid “unfavorable performance” and an...
Shift Technologies cuts staff by 30% in February
Used-vehicle online retailer Shift Technologies cut staff following completion of its merger with used-vehicle marketplace CarLotz in the fourth quarter. ...
BRP customers extend financing terms amid rising interest rates
Canadian powersports manufacturer Bombardier Recreational Products is seeing its customers extend their financing terms to overcome rising interest rates. “One...
Winnebago promotions up 68% YoY as market normalizes
Recreational vehicle and marine manufacturer Winnebago Industries posted increased promotional activities in the second quarter of fiscal year 2023 as...
RumbleOn Finance originations fall in Q4
RumbleOn Finance tallied a decline in originations in the fourth quarter as finance and insurance revenue and unit sales declined...
CPS tightens credit ‘dramatically’
Consumer Portfolio Services tightened credit considerably and raised interest rates in 2022 to protect margins amid rising costs of funds. ...
Trinity Capital’s equipment financing portfolio up 9.6% YoY
Trinity Capital grew its equipment financing portfolio in 2022 amid record commitments and deployments. Equipment financing investments totaled $29 million...
Retailers see triple-digit increase in floorplan expense
Floorplan interest expense increased at publicly traded auto retailers with three retailers tallying triple-digit year-over-year increases, while finance and insurance...
