scusa | Auto Finance News | Auto Finance News

SCUSA volunteers at local food bank

About two dozen Santander Consumer USA internal audit employees volunteered at the North Texas Food Bank distribution center in Plano, Texas, to combat hunger right in their own backyard. “The work done by the food bank is a worthy cause,” one volunteer named Alejandro said in a Sept. 20 blog post. “They help address the […]

Santander drives up Chrysler Capital penetration rate, shuffles leadership

Santander Consumer USA increased its Chrysler Capital quarterly penetration rate as a leadership change will have Shawn Allgood head Chrysler Capital and auto relationships, the company announced in its second-quarter earnings.  Chrysler Capital’s quarterly penetration rate grew to 36%, compared with 32% during the prior-year period. Loans originated by subsidiary Chrysler Capital increased 25% year […]

Auto ABS heats up with $4.7B of issuance

A handful of prime and subprime securitizers pumped up ABS volume this week, bringing $4.7 billion of loans and leases to market, according to presale reports from S&P Global Ratings.  Auto ABS volume totaled $61.3 billion as of July 8, up 12.7% year over year, according to data from JPMorgan Securities. On the prime side, […]

Weakening Credit Spurs Santander Downgrade

Santander Consumer USA's rating has been cut to neutral from positive by Susquehanna Financial Group as shifts in the lender's portfolio dynamics make it appear that credit is worsening in the short term, SFG’s bank and auto finance analyst Jack Micenko told Auto Finance News. The most notable change relates to SCUSA’s troubled debt restructuring […]