Bezos May Come After the Auto Industry, Volvo CEO Warns Dealers

Volvo Car isn’t letting up on pushing for sweeping changes to how new vehicles are sold -- whether auto dealers like it or not. At a conference affiliated with this week’s New York International Auto Show, Anders Gustafsson, chief executive officer of Volvo Car’s U.S. unit, stood up for the vehicle subscription service the company […]

• Bloomberg News
• April 17, 2019
• Operations, Strategy

CPS CFO Jeffrey Fritz Joins Speaker Faculty at Auto Finance Risk Summit

Consumer Portfolio Services Executive Vice President and Chief Financial Officer Jeffrey Fritz will kick off the Auto Finance Risk Summit with a presentation on economic scenarios and the financial market’s future. The session will take place at 1:30 p.m. on Wednesday, May 15, at the Omni Hotel in San Diego. The presentation will explore how […]

• Joey Pizzolato
• April 16, 2019
• Operations, Risk, Strategy

Tariffs, NAFTA Uncertainties Threaten Vehicle Sales

WASHINGTON, D.C. — Uncertainty with international tariffs and the North American Free Trade Agreement could have one of the “biggest impacts” on automotive sales, Mike Wall, executive director of automotive analysis at IHS Markit, said at CBA Live. “This industry — especially in North America and the U.S. — has really been predicated on the […]

• Joey Pizzolato
• April 16, 2019
• Capital Markets, Update

Tech Partnerships Help Drive Digital Transformation in Auto Finance

Aclaro, a company that develops tools for companies in the automotive industry, recently announced game-changing news that validates its mission of helping small, scrappy dealerships compete with larger competitors. As part of its efforts to deliver five-star service for its clients, Aclaro joined the Microsoft Partner Network, allowing the company to continue building its business […]

• Aclaro
• April 16, 2019
• Operations, Sponsored, Technology

Digital Customer Experience Takes Center Stage at Auto Finance Sales & Marketing Summit

Distinguished executives from USAA Bank and CarFinance.com are set to discuss best practices for optimizing the digital lending experience at the Auto Finance Sales & Marketing Summit during a session entitled “Delivering the Digital Customer Experience.” The discussion will take place Monday, May 13, at 4:00 p.m. PT at the Omni San Diego. The panel […]

• Nicole Casperson
• April 15, 2019
• Innovation & Mobility, Sales & Marketing, Strategy, Technology

Exeter Settles AG Investigations Over Unlawful Lending Practices

Exeter Finance LLC will shell out $5.5 million to settle allegations that it financed subprime auto loans deemed "unfair" by the Massachusetts Consumer Protection Law. The Office of Attorney General Maura Healey alleged that Exeter “facilitated the origination of certain loans that Exeter knew or should have known were unfair,” according to an April 5 […]

• Nicole Casperson
• April 15, 2019
• Compliance, Operations, Risk, Update

The Unexpected Effects of a Shrinking Sedan Inventory

The butterfly effect is the idea that what seems like a small change in a system can lead to larger or even totally unexpected results. Today, the auto industry is experiencing an imbalance in inventory as a result of OEMs pulling back production on sedans to build more trucks and SUVs. How might the butterfly […]

• Lynn Hess
• April 15, 2019
• Auto Finance Excellence, Operations, Strategy

1Q19 Originations Hit 2-Year High at Wells Fargo, Slip at Chase Auto

Wells Fargo Auto’s origination volume hit its highest level in two years despite a shrinking portfolio, while JPMorgan Chase & Co.’s portfolio remained flat as originations slowed. First-quarter originations at Wells Fargo Auto increased 24% year-over-year to $5.4 billion, though outstandings fell 9% to $44.9 billion. The last time the bank's auto originations topped $5 […]

• Nicole Casperson
• April 12, 2019
• Earnings, Sales & Marketing