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China’s auto ABS market tops $4.5B on heels of Geely deal

China’s asset-backed securities market is a growing funding source for auto lenders, as issuance has topped $4.5 billion (RMB31.2 billion) this year, according to data from S&P Global Ratings’ China Securitization Performance Watch report.  “We expect improving debt serviceability, enhanced underwriting and risk control, and securitization's structural protection to continue to support the robust performance […]

Chinese Tariffs to Complicate Underwriting, Slow Innovation, Analyst Says

In addition to increasing vehicle prices, the 25% tariffs imposed on Chinese parts and goods by the Trump administration will complicate the underwriting process for lenders and slow down innovation in the auto industry, Jonathan Smoke, chief economist at Cox Automotive, told Auto Finance News. “Americans aren’t suddenly making 10% or 25% more income,” Smoke […]

China Announces Tariff Retaliation to Take Effect on June 1

China announced that it will increase tariffs imposed on about $60 billion of U.S. goods in retaliation for President Donald Trump’s latest escalation of the trade war. The tariffs will take effect on June 1, according to a statement on the Ministry of Finance’s website on Monday. The charges will thereby be raised on most […]

Mnuchin Signals Chance to End China Tariff War Ahead of Talks

U.S. Treasury Secretary Steven Mnuchin said that if China presents enough trade concessions to President Donald Trump, there is a chance that the administration may seek to lift all tariffs. “Everything is on the table,” Mnuchin said early Tuesday during an interview on Fox Business News “Mornings With Maria” program. The Treasury chief is set […]

U.S.-China Tariffs, Credit Availability Threaten New-Car Market

Trade disputes and a tightening credit cycle pose risks for U.S. financial institutions, S&P Global Ratings noted in a report released earlier this month. “The hallmark of the auto finance industry is its access to credit and keeping the needle moving,” Jeremy Acevedo, manager of industry analysis at Edmunds, told Auto Finance News. “If [credit […]

Daimler Mobility Platforms Reach 26 Million Users, Amid Global Expansion

Daimler AG’s mobile platforms have notched 64% growth in users this year. Through September, more than 26 million customers have used Daimler mobile ride-hailing and car rental services like car2go, mytaxi, and moovel, the OEM announced today. Newly released usage numbers coincide with the announcement that the German company will change its name to Daimler […]

U.S.-Canada Trade Agreement to Bring Some Relief to Auto Industry

The automotive industry is breathing a sigh of partial relief today as details about a potential trade agreement with Canada trickle out that would exempt U.S. neighbors to the north and south from steep import tariffs. A new U.S.-Mexico-Canada trade agreement exempts the neighboring countries should President Donald Trump impose a 25% tariffs on auto […]
  • William Hoffman
  • October 1, 2018
  • Asia, Risk

U.S. Bank Improves Auto Decisioning to Compete in Tight-Margin Business

SHANGHAI — U.S. Bank increased its auto decisioning capabilities and improved efficiencies in its sales team earlier this year to reduce expenses and continue to grow the business, said John Hyatt, executive vice president of dealer services. The comments came as part of a panel discussion at the Auto Finance Summit Asia, in which Hyatt […]
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