Senate Bill Gives Banks ‘Wiggle Room’ for Nonprime Lending, Economist Says

A bipartisan financial reform bill making its way through the Senate this week could allow midsize banks in the auto space to be more competitive with non-bank institutions, especially in the nonprime sector, said Michael Vogan, lead auto economist at Moody’s Analytics. Senate bill 2155, sponsored by Senate Banking Committee Chairman Mike Crapo (R-ID), would […]
  • William Hoffman
  • March 12, 2018
  • 0

Consumer Preferences May Pose ‘Prominent Threat’ to Residuals, Moody’s Says

Changing consumer preferences and new electric vehicle technology bear “prominent threats” for auto finance, in particular, due to residual values, Moody’s Investors Service said in a report Monday. In North America, customers have an increased preference for SUVs, partly attributable to low gas prices and good economic conditions. The sales mix of new SUVs and trucks […]
  • Emma Sandler
  • February 15, 2018
  • 1

Tesla Files to Issue Inaugural Auto Lease Securitization

There might be a new entrant in the auto asset-backed securitization market. Tesla Inc. issued an ABS-15G filing with the Securities and Exchange Commission last week, indicating the electric car maker will establish a Tesla Auto Lease Trust. The manufacturer is poised to issue a bond backed by leases on its electric cars in an […]
  • Natalie Mattila
  • January 29, 2018
  • 0

BMW’s First Loan Issuance in 2 Years Provides Portfolio Insights

BMW Financial Services issued its first North American securitization deal in two years, and the parameters of the transaction reflect the rising loan term environment seen across the industry. BMW’s 2018-A transaction backed by $1.4 billion in auto loans has the highest average loan term — 63 months — of any of its issuances dating […]
  • William Hoffman
  • January 16, 2018
  • 1

NMAC Sets Goal of 100% Auto-Decisioning, President Says

Nissan Motor Acceptance Corp. will invest “significant resources” in technology over the next few years — starting in 2018 — to allow the captive to be open 24/7, President Kevin Cullum told Auto Finance News. “Customer demand for online shopping and financing is really driving our businesses, and it’s vital that we invest in new […]
  • Natalie Mattila
  • December 18, 2017
  • 0

Moody’s Highlights Residual Value Concerns of Battery EVs

Residual values for battery-electric-vehicles (BEVs) remain an issue for the auto industry, particularly for auto lease-backed securities, according to a report from Moody’s Investors Service. Compared to internal-combustion-engine (ICE) vehicles, BEV cars suffer from higher residual uncertainty because of three primary reasons. The first is the lower predictability of BEVs’ value proposition compared to ICE vehicles. […]
  • Emma Sandler
  • December 15, 2017
  • 2
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