Hyundai Capital America CEO on the Challenges the Company Faces and His Push for Efficiency [VIDEO]

Hyundai Capital America CEO and President Ross Williams spoke at the 18th annual Auto Finance Summit about the company’s strong growth and the challenges he’s dealing with today. “I remember celebrating reaching $10 billion in assets seven years ago. A couple of years later it was $20 billion. A couple of years later it was $30 billion,” said […]

Affordability, Credit Access Spur Used-Vehicle Sales

Tighter underwriting standards and vehicle affordability are spurring new-car shoppers to buy used, Lawrence Dixon, senior director of valuation services at J.D. Power, told Auto Finance News. “In an environment where new-vehicle demand is plateauing, we believe a big reason for that is affordability,” Dixon said. “New-vehicle affordability is becoming increasingly difficult to attain, consumers […]

Alt-Data Helps Lenders Overcome Underwriting Hurdles

LAS VEGAS — Lenders are making alternative data a more integral part of the underwriting process. In the subprime sector, alternative data can paint a clearer picture and better assist lenders in assuming comfortable risk levels. “The more information you can have, the better a decision you can make and potentially price loans the right […]

Interest Rates Will Weigh Down Auto Sector Despite Strong Consumer Sentiment [VIDEO]

Comerica Bank’s Chief Economist and SVP Robert Dye expects that the U.S. economy could be headed for a “fiscal cliff” next year. Despite a somewhat confident consumer segment, the weight of interest rates on the auto industry will soon take effect. When it comes to consumers, “It is the best of times and the worst […]

California, Michigan Auto Sales to Decline as Debt-Strapped Customers Curb Purchases, Economist Says

LAS VEGAS —  Economic weaknesses in Michigan and California may dampen auto sales and financing volume, said Robert Dye, senior vice president, and chief economist at Comerica Bank. “On a regional basis, we’re seeing weakness in the Midwest, and we’re also seeing weakness in the West, so there’s an affordability issue,” Dye said in a […]

For Toyota Pilot Programs, Focus Moves to Utilization From Ownership [VIDEO]

Toyota Finance Services has deployed several pilots in ridesharing and car rental services. The company gave specific insight into the findings from two of these pilots at this year’s Auto Finance Summit. “A variety of scenarios are going to coexist in the future, it’s between personally owned and shared, and autonomous vehicles and driver-driven,” Sabreen […]

Why Penetration Rates Are Dropping at Hyundai Capital, NMAC

LAS VEGAS — Hyundai Capital America expects rising interest rates to squeeze penetration ratios to 40% or 50% by yearend across all its franchise brands, Chief Executive Ross Williams said during a fireside chat at the Auto Finance Summit. Historically, the captive’s penetration rate has hovered around 70%, Williams said. However, the rising interest rate […]
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