Pennsylvania dealers nailed in 4-year fraud scheme

The owner and finance manager of two Erie County, Pa.-based dealerships — Lakeside Auto and Lakeside Chevrolet — have been indicted on 17 counts of auto fraud, according to an announcement by the Department of Justice on Tuesday. According to the indictment, Owner and former President of the National Independent Automobile Dealers Association, Andrew Gabler, […]

• Joey Pizzolato
• August 14, 2019
• Compliance & Regulation, Risk Management

GM Financial, Hyundai ramp up lease ABS with $1.9B of issuance

General Motors Financial and Hyundai Capital America are driving auto lease ABS volume, bringing a combined $1.9 billion of receivables to market, according to presale reports from S&P Global Ratings.  GMF’s $1 billion deal marks the captive’s third lease securitization this year, boosting its total volume to $3.4 billion in 2019. The collateral pool consists […]

• Nicole Casperson
• August 5, 2019
• Capital Markets

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

Regulations hampering AV innovation, analyst says

GM Cruise’s decision to postpone deployment of its autonomous, on-demand ride-sharing fleet signals a larger concern automakers should consider when pushing AV innovation, Grayson Brulte, president of Brulte & Co., told Auto Finance News. Regulations are one of the biggest hurdles for automakers invested in AV, Brulte said. “The rockstars and the biggest assets to […]

• Joey Pizzolato
• July 30, 2019
• Innovation & Technology

General Motors Scales Back Car-Sharing Service Maven

General Motors Co. reportedly is scaling back its car-sharing service, Maven, by stopping the service in eight markets after launching more than three years ago. A GM spokeswoman confirmed the OEM plans to shut down the service in major markets like Chicago and Boston "within the next few months," the Wall Street Journal reported. However, Maven will […]

• Nicole Casperson
• May 21, 2019
• Innovation & Technology, Risk Management

U.S. Bailout From Last Recession Lives on as Downturn Risks Rise

TARP, the U.S. government bailout program born of the financial crisis a decade ago, lives on today as economists warn of a new recession. Congress authorized the Troubled Asset Relief Program in late 2008 to stabilize the financial system with up to $700 billion — later reduced to $475 billion. To date, about $450 billion in […]

• Bloomberg News
• January 14, 2019
• Capital Markets, Risk Management

4 Auto Initiatives to Watch in 2019

While slowing car sales, an unpredictable tariff war, and a growing affordability issue could all make for a tough 2019, there are a number of auto initiatives that are looking to take off next year. Among them: Fair The used-car leasing app company has its sight set on global expansion in 2019 – and it’s […]

• Bianca Chan
• December 28, 2018
• Innovation & Technology

Sedan Sales Marketshare Falls to Record Low in November

Sedan popularity has dropped to an all-time low, as evidenced by November’s new-vehicle sales figures. As a percentage of new-vehicle sales, sedan — or “car” — segment marketshare dropped to 28.8%, the lowest monthly share on record, according to Cox Automotive unit Manheim. By comparison, the segment that comprises light-duty pickups, vans, SUVs, and crossovers […]

• Bianca Chan
• December 11, 2018
• Archives, Capital Markets, Sales & Marketing