Earnings | Auto Finance News - Part 4

Tesla Hints at Direct Leasing for Model 3s

Tesla has improved its car production numbers and has signaled that it will soon turn to direct leasing deals to further boost sales, the company noted in its 3Q vehicle production report. The electric car company produced 50% more vehicles — 80,142 —- than it did in the second quarter, which was its previous all-time […]

Chrysler Capital More Than Doubles Originations in New York

Chrysler Capital is making a big sales push in New York state as the lender’s loan and lease volumes are up 128% year over year for the month of June, according to Experian’s Auto Count data provided to Auto Finance News. The company originated 5,465 contracts across the state, up from 2,391 the same month […]
  • William Hoffman
  • August 28, 2018
  • Earnings

Carvana Originations More Than Double Amid Geographic Expansion

Carvana’s originations of finance receivables increased to $525.8 million during the first six months of 2018, compared with $223.8 million during the same time last year, according to the company’s second-quarter earnings released this week. That boost in financing tracks with the online dealership’s higher retail sales expectations this year. Sales climbed 111% during the second […]

Tesla’s Accounting Changes Muddle Captive’s Results

Tesla Financial Services reported growth in its leasing portfolio, but because of an accounting change, it showed large declines over the last year, according to the company’s second-quarter earnings released today. Not adjusting for the accounting change, Tesla reports a 17% year-over-year increase in its lease portfolio to $4.2 billion outstanding. Yet, accounting for the […]

VW Financial Services Grows Portfolio in First Half of 2018

Volkswagen Financial Services increased outstandings by 4.7%, in addition to seeing growth in originations, the company reported in its half-year earnings report. The total number of contracts in the lender’s portfolio totaled 6.2 million compared with 5.9 million the same period the year prior. The leasing portfolio likewise saw growth, climbing 11.5% to 4.2 million […]

OneMain Financial Boosts Direct Auto Portfolio by 35% in 2Q

OneMain Financial grew its direct auto portfolio by 35% year over year to around $3.38 billion in receivables, the company reported in its second quarter earnings report. “[Direct auto] is about 22% of the portfolio this quarter versus around 18% a year ago, so I think we’re getting growth in our direct auto,” Scott Parker, […]
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