Earnings
Listen: Q1 earnings kick off with mixed results
First-quarter earnings season kicked off last week to mixed results with CarMax Auto Finance, Chase Auto, PNC Financial and Wells...
PNC Financial auto portfolio shrinks 7% YoY
PNC Financial’s auto portfolio shrank for the fourth consecutive quarter as enhanced scrutiny around rates and deposit investments put pressure...
Wells Fargo Auto’s originations shrink YoY amid pricing competition
Wells Fargo Auto tallied a year-over-year decline in originations and outstandings in the first quarter amid tightening credit and pricing...
Chase Auto originations jump 10% YoY in Q1
Chase Auto increased its origination volume year over year for the first time in five quarters as vehicle supply continues...
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...
