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Auto ABS Volume Closes In on $60B

Year-to-date auto securitization volume hit $57.8 billion at the end of April, with prime loan issuance accounting for the lion’s share of transactions, according to research released today by Deutsche Bank. Prime loan securitization volume totaled $23.7 billion, and subprime volume reached $12.8 billion. The remaining volume was comprised of retail lease ($9.8 billion), fleet […]

Investments in Public Auto Finance Companies Top $9 Billion

Institutional investors had combined shares valued at $9.4 billion in the handful of publicly traded auto finance companies, as of midyear, according to an Auto Finance News analysis of Securities and Exchange Commission filings. The SEC filings record the quarterly U.S. equity holdings of institutional investment managers with at least $100 million in equity assets […]

Carvana Originations More Than Double Amid Geographic Expansion

Carvana’s originations of finance receivables increased to $525.8 million during the first six months of 2018, compared with $223.8 million during the same time last year, according to the company’s second-quarter earnings released this week. That boost in financing tracks with the online dealership’s higher retail sales expectations this year. Sales climbed 111% during the second […]

Ally Seeks to Expand Blinker Partnership During ‘Innovation Period,’ Russi Says

LAS VEGAS — Blinker’s newly inked alliance with Ally Insurance will likely be expanded to the retail financing side of the bank, said Ally President of Auto Finance Tim Russi. “I certainly think it will [turn into a lending partnership]” Russi told Auto Finance News. “We want to do more with [Blinker].” Last month, Blinker […]

Ally and New Car Subscription Service Mobiliti Team Up

Mobiliti, a new monthly car subscription service that works with dealerships, is working with Ally to offer comprehensive financing options when the company officially launches next month in Austin, Chance Richie, founder and chief executive of Mobiliti, told Auto Finance News. Mobiliti works with dealers to sell vehicles on a subscription plan, and puts all dealers under […]