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GM Financial boosts originations, OEM talks autonomous in 2Q earnings

General Motors Financial Co. bolstered origination volume 6.5%, maintaining the captive’s growth momentum.   The captive originated $13 billion of loans and leases in the quarter, up from $12.2 billion in the prior-year period. The growth comes on the heels of a 14.8% increase in originations in the first quarter. GMF’s loan portfolio totaled $42.6 billion, up […]
  • Nicole Casperson
  • August 1, 2019
  • Earnings

Volvo Financial President Pegs AI, Vehicle Connectivity as Tech Winners

GREENSBORO, N.C. — Volvo Financial Services is betting on artificial intelligence and autonomous vehicles as customers increasingly opt out of vehicle ownership, President Scott Rafkin told Auto Finance News at a Demo Day that closed out the captive's 10-week iLabX accelerator program. "I could see absolute applicability for the artificial intelligence technologies that we took […]

Chase Auto Looks to Boost AI Initiatives, CEO Says   

SAN FRANCISCO — Implementing artificial intelligence into servicing operations is top of mind for Chase Auto Finance in 2019, Chief Executive Mark O’Donovan said during a panel discussion at the American Financial Services Association’s Vehicle Finance Conference this week. “We’re definitely looking to robotics and artificial intelligence for repossessions and the servicing space to improve […]

Ford Credit Earnings Fall Despite Higher Lease Penetration, Stronger Auction Values

Despite favorable lease residual performance driven by higher auction values, Ford Motor Credit Co. posted lower earnings last year, according to results released yesterday. The captive’s full-year 2018 net income dropped 26% to $2.2 billion. Lease penetration in the fourth quarter climbed 4 percentage points year over year, to 21%. The continued rise in leasing […]

General Motors Seen Tightening Integration With Captive Amid Leadership Changes

General Motors‘ latest executive management change appears to be part of a push for integration between the OEM and captive finance arm GM Financial, Jeremy Acevedo, Edmunds‘ manager of industry analysis, told Auto Finance News. Chief Executive Mary Barra is taking charge of GM Financial, according to several reports. GM’s President Dan Ammann, who had been overseeing […]