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Santander salvages Chrysler agreement with FCA $60M payment

Santander Consumer USA has paid $60 million to Fiat Chrysler Automobiles Group to amend a private label financing agreement whose future had been uncertain for the past year.  The modified pact between SCUSA and FCA adjusts specific performance metrics, exclusivity commitments and payment provisions under the agreement, according to the filing of an 8-K with […]

Failure of FCA-Renault Merger a Good Sign for SCUSA, Analyst Says

As Fiat Chrysler Automobiles closes the door on the potential Groupe Renault merger, withdrawing its merger proposal to the French OEM Wednesday evening, another door may open for Chrysler Capital owner Santander Consumer USA. While SCUSA is “no longer talking to Chrysler about buying Chrysler Capital” — a discussion that started in May 2018 — […]

FCA Proposed Merger With Renault Could Lead to Captive Discussions

Fiat Chrysler Automobiles’ merger proposal to Groupe Renault is likely to lead to discussions of creating a captive finance arm to “support the level of volume the new organization could attain,” Zohaib Rahim, manager of economics and industry insights at Cox Automotive, told Auto Finance News. “Last year, [former FCA Chief Executive] Sergio Marchionne mentioned […]

Santander Originations Climb 10% Amid Discussions With FCA

Santander Consumer USA originations climbed 10% year over year amid "constructive and positive" discussions with Fiat Chrysler Automobiles Group "focused on optimizing the existing contract that we have in place," SCUSA Chief Executive Scott Powell said during the company's first-quarter earnings call this week. Powell noted that the discussions have “moved away from the sale of […]

Santander Originations Climb 59% Amid Discussions With FCA

Santander Consumer USA drove up auto originations 59% year over year amid discussions around "optimizing" its current contract with Fiat Chrysler Automobiles Group, SCUSA Chief Executive Scott Powell said during the company's fourth-quarter earnings call this week. “We continue to operate under [the] existing contract,” Powell said during the call. “Our discussions with Chrysler are […]

Losses on Track to Improve in Santander’s Latest Securitization

Santander Consumer USA‘s first asset-backed securitization of the year is on track for lower losses relative to prior pools, despite higher loan-to-value ratios and a smaller percentage of new vehicles in the pool, according to Moody’s Investors Service. Moody’s assigned a 24% cumulative net loss expectation to the $1.2 billion transaction, which is slated to […]

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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