VW, Ford Join to Make Vans and Explore Work on Electric Cars

Volkswagen AG and Ford Motor Co. will join forces to build pickup trucks, delivery vans and possibly more, pledging to put old rivalries aside and work together to confront a rapidly changing auto industry. The pair is set to start delivering medium-sized pickup trucks from 2022, VW and Ford said in a statement Tuesday. The […]

Capital One Auto Finance Sues Missouri Dealership for Fraud

Capital One Auto Finance filed a lawsuit against Cape Girardeau, Mo.-based Coad Toyota claiming $619,690 in damages for allegedly misrepresenting facts about vehicles sold and falsifying down payments and sales tax in 34 instances, according to court documents filed Dec. 21, 2018. In one example cited in the lawsuit, the dealership allegedly supplied information to […]

LOS Provider Launcher Solutions Adds Alt Data From LexisNexis

Technology startup Launcher Solutions inked a deal last week to integrate alternative data from LexisNexis Risk Solutions into its loan-origination system geared for subprime lenders. Alternative data plays a significant role in auto loan underwriting, especially in the subprime sector where credit bureau profiles may be thin, Launcher Solutions President Nikh Nath told Auto Finance […]

Westlake Financial to Launch Peer-to-Peer Lending This Year

Westlake Financial Services plans to add peer-to-peer lending capabilities to LoanCenter, its direct lending platform, later this year. The goal is to reach a new group of borrowers looking to purchase vehicles from individuals instead of from dealerships, Ralph Ontiveros, vice president of Westlake services and lending solutions, told Auto Finance News. “A lot of […]

GM Financial Issues $1.25B Securitization to Jumpstart 2019

GM Financial has kicked off 2019 auto asset-backed securitization activity with a $1.25 billion deal issued last week, according to presale reports. Although analysts anticipate macroeconomic headwinds, such as interest rate stresses, to hit the industry this year, Fitch Ratings Agency said in its presale report that losses in GM Financial’s 2016 and 2017 managed […]

Forum Credit Union’s Ben Wire on Lending’s Competitive Landscape

Credit unions have been increasing their share of the auto loan business. The financial organizations controlled 21.3% of the market at midyear 2018, compared with 20.3% at midyear 2017, according to Experian. But, like other lending institutions, past performance is no guarantee of continued success. Ben Wire, Forum Credit Union’s dealer division manager, recently spoke […]

Market’s Favorite Recession Indicator Lurches Lower in New Year

Traders return to their desks in the new year with a familiar warning signal flashing even more strongly than before — the Treasury yield curve got even flatter, feeding the market’s worst suspicions about the U.S. economy. Market watchers noted a dramatic compression in what is arguably the most reliable indicator of recession — the […]

Fitch Forecasts Subprime Auto ABS to Weaken in 2019

While prime auto lease and loan asset-backed securitizations are projected to remain stable, Fitch Ratings Agency expects the outlook for subprime auto ABS to weaken. In a 2019 consumer lending outlook, Fitch’s Senior Director of ABS Ian Rasmussen said subprime auto asset-backed securities are more vulnerable due to weaker borrower profiles and industry headwinds inflated […]

Auto Finance News’ 4 People to Watch in 2019

A number of auto manufacturers, finance operations, and government bodies have new people at the helm, ready to leave their marks. The following are AFN editors’ picks for 4 people to watch in 2019: Kathy Kraninger Kathy Kraninger succeeded Mick Mulvaney as director of the Consumer Financial Protection Bureau in December 2018. Kraninger’s first official move […]
  • Nicole Casperson
  • January 4, 2019
  • Strategy
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