Sales & Marketing | Auto Finance News

A blossoming partnership: An inside look at Santander’s deal with FCA

From the October feature: Since revising their financing alliance this summer, Santander Consumer USA and Fiat Chrysler Automobiles appear to have smoothed the speed bumps that had hindered the Chrysler Capital partnership for years. The original partnership had consistently been weighed down by missed penetration rate targets. Quarter after quarter, Santander would cite “the competitive […]

Earnings roundup: Ally, Chase, US Bank boost auto originations in 3Q

Ally Financial, Chase Auto, and U.S. Bank Dealer Services all grew origination volumes in the third quarter despite a mixed environment for delinquencies and charge-offs. Ally Financial  Third-quarter originations at Ally climbed 14% year over year to $9.3 billion of auto loans and leases compared with $8.1 billion in the prior-year period. Ally’s originations were […]

LendingTree and RouteOne partner to increase indirect loans

RouteOne‘s new integration with LendingTree will likely boost the number of indirect auto loans for lenders and create “incremental sales opportunities for dealers,”  the companies announced this week. With the integration, LendingTree’s platform presents consumers up to five personalized loan offers and funnels those applications to RouteOne, which connects thousands of dealers and lenders with […]

Wells Fargo Auto originations climb 45% YOY

Origination volume for Wells Fargo Auto is on a growth trajectory, as the bank reported a 45% year over year increase to $6.9 billion in the third quarter, according to earnings released today. Third quarter originations are up 9% from a two-year high recorded last quarter.  The jump in origination volume is a reflection of […]

Daimler, Hyundai ramp up mobility projects in Korea

Mercedes-Benz and Hyundai are setting their sights on Korea for expanded mobility solutions, the two companies announced separately this week. Daimler Mobility AG — which, like Mercedes-Benz, is a subsidiary of Daimler AG — is expanding its footprint with the creation of Mercedes-Benz Mobility Korea (MBMK). Long-time Daimler executive Guillaume Fritz was appointed managing director […]

PenFed, Wells Fargo charity efforts aid vets

Two auto lenders are honoring armed service veterans in their latest community service campaigns, according to separate releases by Pentagon Federal Credit Union and Wells Fargo last week. PenFed served as the sponsor of the inaugural 2019 San Antonio Business Journal Veterans in Business Award, which honors 12 veterans in business and two veteran-owned companies […]

Toyota Mobility to buy UK fleet management company

Inchcape Plc has agreed to sell its U.K.-based fleet leasing business, Inchcape Fleet Solutions (IFS), to Toyota Fleet Mobility for £100 million ($123 million) in cash. Toyota is IFS’s oldest OEM partner. The deal is set to close by year end. IFS operates as a franchisee for BMW, Mercedes-Benz, Volkswagen, Porsche, Toyota and Lexus. The […]

CPS increases capture rates with alternative data

Consumer Portfolio Services is experiencing higher capture rates as a result of a new scorecard that was implemented last year, Senior Vice President of Risk Management Chris Terry told Auto Finance News.  Nine months post-implementation, “CPS is seeing the results without negatively impacting our pricing,” Terry said. The difference between CPS’s new consumer-focused scorecard versus […]
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