Term Extensions Trump Rate Cuts for Tackling Affordability, TransUnion Says

Despite concern that rising interest rates will slow new-car sales, loan term extensions will move the needle quicker on monthly loan payments, Brian Landau, senior vice president and TransUnion’s auto line of business leader, told Auto Finance News. Auto lenders originated 7.1 million loans through the third quarter of 2018, up 0.5% year over year, TransUnion reported this […]

• Nicole Casperson
• February 22, 2019
• Operations, Strategy

‘Unseasonal’ 4Q Origination Boost Puts CPS on Track for Growth in 2019

Consumer Portfolio Services is counting on marketing and technology enhancements implemented last year to spur origination volume, despite potential complications with changes in the tax code coupled with the government shutdown. CPS originations shot up 32% year over year, to $251 million in the fourth quarter of 2018. In fact, fourth-quarter volume was the highest […]

• Joey Pizzolato
• February 18, 2019
• Earnings, Strategy, Update

CPS Bolsters Originations Despite Shrinking Revenue

Consumer Portfolio Services increased originations 5.1% last year, bucking company expectations, Chief Executive Charles Bradley Jr. said during the company's fourth-quarter earnings call this week. “2018 was a better year than we expected but nothing [that] we were looking for,” Bradley said. “We've done a tremendous amount of housekeeping in 2018 that should bode well […]

• Joey Pizzolato
• February 14, 2019
• Earnings, Operations

Big Wheels Auto Finance Query Posted Online

Financiers may now electronically submit 2018 results for inclusion in Big Wheels Auto Finance Data: A Ranking of the Nation’s Top Car Financiers. Big Wheels produces the definitive tabulation of automotive lending and leasing activity in the nation. It offers a unique opportunity to include your company’s performance among a ranking of the best of the best in […]

• Marcie Belles
• February 14, 2019
• Capital Markets, Earnings, Operations

GM Financial Notches 32% Loan Origination Growth in 2018

General Motors Financial Co. continues to bolster retail loan growth with a 31.7% yearly rise in originations, the company reported Wednesday. “We navigated significant headwinds in 2018 to deliver another year of strong results, demonstrating the earnings resiliency of this company,” General Motors’ Chief Financial Officer Dhivya Suryadevara said in a statement. “The actions we’ve […]

• Nicole Casperson
• February 6, 2019
• Earnings, Sales & Marketing

Ally Expects Steady Originations in 2019, President Says

Ally Financial Inc. hit a “sweet spot” with its auto portfolio last year and is focusing on keeping that consistency throughout 2019, President of Auto Finance Doug Timmerman told Auto Finance News. The bank grew its auto portfolio 2.1% year over year to $35.4 billion at yearend 2018, as delinquencies increased and charge-offs declined, the company reported in fourth-quarter […]

• Nicole Casperson
• February 1, 2019
• Earnings, Strategy, Update

Global Lending Services Doubles Originations for Second Straight Year

Global Lending Services doubled its origination volume — for the second straight year — to $1.1 billion in 2018, Chief Executive Steve Thibodeau told Auto Finance News. The subprime lender's origination volume had doubled to $558 million in 2017. Thibodeau attributed the portfolio growth to the company's expanding dealership network, which increased 30%, to 8,000 […]

• Bianca Chan
• January 29, 2019
• Earnings, Operations, Sales & Marketing

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 […]

• Nicole Casperson
• January 23, 2019
• Earnings, Sales & Marketing, Strategy, Update