Operations | Auto Finance News - Part 4

Ford Motor Credit Posts Highest Earnings Since 2010

Ford Motor Credit earned $801 million before taxes in the first quarter, notching a 25% year-over-year increase and the captive’s best results in nine years. “Ford Credit benefited from lower depreciation on vehicles in our leased portfolio and improvement in credit loss reserves, reflecting continued strength in consumer credit metrics,” said Bob Shanks, chief financial […]

Ferrari Pushes Through Auto Challenges With Profit Beat

Ferrari NV served up more proof the Italian supercar maker can push through headwinds that have beset much of the auto industry, delivering a rise in first-quarter profit that beat the highest estimate. The brand, selling sleek and powerful cars sought after by the megarich, has long sought a spot next to other luxury goods […]

Aston Martin Taps Chase for Leasing, Replacing Ally

Chase Auto Finance has signed an exclusive private label agreement with Aston Martin The Americas to provide consumers with financing on loans and leases under the financial brand Aston Martin Financial Services, according to a company release. The bank will also provide commercial lending and treasury services for the OEM’s 35 U.S.-based dealerships. The leasing […]

BMO Harris Hones Sales Structure Amid Geographic Expansion

BMO Harris Bank is eyeing new opportunities – and states – to further grow its indirect auto business, Head of U.S. Indirect Lending Craig Harter told Auto Finance News. Last quarter, BMO Harris entered North Carolina and Maryland; the bank added Texas to its footprint in the second quarter of 2018. Additionally, the lender made […]

Consumer Advocates Call on Regulators to Clamp Down on Discriminatory Auto Lending

Consumer advocates proposed prohibiting dealer markups and increasing federal oversight to combat alleged discriminatory indirect lending practices, in a U.S. House Committee on Financial Services hearing Wednesday. “Many of the disparities we will discuss here today are only possible because the market for cars — especially car finance for used cars — is opaque and […]

CarLabs’ CEO Joins Auto Finance Innovation Summit for a Fireside Chat

Martin Schmitt, chief executive and co-founder of CarLabs Inc., will join Auto Finance News for a fireside chat at the Auto Finance Innovation Summit on Wednesday, May 15, at 9 a.m. to share insights and perspectives on artificial intelligence and other key innovation trends happening in the auto finance industry. The fourth annual Auto Finance […]

Santander Originations Climb 10% Amid Discussions With FCA

Santander Consumer USA originations climbed 10% year over year amid "constructive and positive" discussions with Fiat Chrysler Automobiles Group "focused on optimizing the existing contract that we have in place," SCUSA Chief Executive Scott Powell said during the company's first-quarter earnings call this week. Powell noted that the discussions have “moved away from the sale of […]
Page 4 of 214« First...23456 102030...Last »