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JPMorgan Chase Taps Blockchain Technology to Create Cryptocurrency

JPMorgan Chase & Co. expects its newly created cryptocurrency to speed payment processes between institutions and, potentially, auto dealerships. The currency, called JPM Coin, is a 1:1 fiat currency and will be issued over the bank’s proprietary blockchain technology. “It’s still early, but [blockchain and JPM Coin] could be great for our dealers and common […]

Competition, Credit Quality Shape 4Q18 Originations at Chase, Wells Fargo

While JPMorgan Chase & Co.’s portfolio grew amid shrinking originations in the fourth quarter of 2018, Wells Fargo Auto’s portfolio declined despite a bump in loan volume. JPMorgan Chase Chief Financial Officer Marianne Lake attributed the origination slowdown to an “extremely” competitive auto market. “We’re seeing competition from people who have different economic drivers in […]

Avid Acceptance to Double Securitization Volume on Heels of JPMorgan Chase Funding Facility

Avid Acceptance LLC’s new warehouse facility will put the lender on track to double its securitization volume next year, Chief Financial Officer Curtis Ash told Auto Finance News. The $50 million funding facility from JPMorgan Chase “will allow [Avid] a larger securitization in 2019,” Ash said, likely in the third or fourth quarter. The warehouse […]

At the Big 4, Incentive Spending Drops, Even as Sales Dip

Old truisms apparently do not apply to auto finance. At least for now. When car sales fall, generally captives counter with greater subvention. But after years of incentives marching higher, incentives are dipping. At the Big Four — Ford, General Motors, Fiat Chrysler Automobiles, and Toyota — the aggregate incentive per unit fell 1.9% to $4,150, […]

Chase Auto Grows Portfolio by $3.6 Billion in 2Q

JPMorgan Chase & Co. grew its outstandings auto balances, despite originations remaining flat, the bank reported in its second-quarter earnings call today.  Chase Auto Finance’s 2Q loan and lease outstandings reached $83.8 billion — a year-over-year increase of $3.6 billion. Despite a rise in lease originations, total originations remained flat year-over-year at $8.3 billion. In terms of global […]
  • Nicole Casperson
  • July 13, 2018
  • Earnings

4 Tips for an Effective Social Media Campaign

When Chase Auto set out to create its first Instagram campaign in February, the idea was to relate the emotional connection consumers have with their cars to the personal relationships they celebrate on Valentine’s Day. The resulting campaign, which pitched a do-it-yourself date night idea called the “Cuddle Car Kit,” netted 4 million impressions, said […]

Chase Auto Reports ‘Stable’ Volume Growth as Losses Dip in 4Q

While other banks have been pulling back in auto, JPMorgan Chase & Co. has held firm and experienced growth in outstandings and originations, while delinquencies and charge-offs decreased. Chase Auto Finance grew originations 2.4% to $8.2 billion in the fourth quarter as compared the same time a year prior, according to the bank’s earnings report. The bank’s […]
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