Citizens One, VW Credit top dealer satisfaction survey

As vehicle sales slow and consumers look to secure financing outside the dealership, lenders’ credit analysts and sales reps are becoming critical elements in a smooth auto finance operation. That’s what the latest J.D. Power 2019 U.S. Dealer Financing Satisfaction Study found based on results from 16,800 retail credit and 2,100 floorplan provider evaluations from […]

• Bianca Chan
• August 15, 2019
• Customer Experience

Mercedes-Benz Financial fosters innovation to drive originations

Mercedes-Benz Financial Services’ focus on ushering a culture of innovation, collaboration, and new mobility fronts has buoyed loan and lease originations this year, Vice President of Credit Operations Chris Kaefer told Auto Finance News.  The captive leapfrogged competitor BMW Financial Services, increasing originations 34.6% to $17.1 billion in 2018, according to Big Wheels Auto Finance data. Comparatively, BMWFS originations declined […]

• Nicole Casperson
• July 17, 2019
• Innovation & Technology, Risk Management

VW Seeks Greater Finance Penetration in China’s Interior

Volkswagen Financial Services increased its penetration of automotive loan and lease products across China and India but saw Japan taper off, according to the captive’s half-year earnings report released Wednesday. VW originated 413,000 new contracts in the Asia-Pacific region — an increase of 14.6% year over year, according to the report. The OEM’s financial services […]

• William Hoffman
• August 2, 2018
• Earnings

Ducati Continues Global Sales Growth Amid New Finance Programs

Ducati sold 55,871 motorcycles globally, 400 more than the previous year, according to figures released by Audi Group during its annual press conference last week in Ingolstadt, Germany. The motorcycle manufacturer has been experiencing a period of growth over the last eight years, having sold 55,452 units in 2016. In the U.S., which remains Ducati’s largest […]

• Matthew Wood
• March 19, 2018
• Earnings

China Ripe for Auto Finance Boom as Consumer Penetration Rate Rises

Since 2009, China has surpassed the United States as the largest market for new-vehicle sales, according to Deloitte Consulting LLC. And now, auto finance is starting to catch up. For many years, the Chinese automotive market has been propped up by government incentives like tax breaks, which encouraged customers to purchase cars. So far, this […]

• Emma Sandler
• December 20, 2017
• All Posts, Features, Risk Management

Volkswagen Financial Expects Record Earnings for Fiscal Year 2017

Volkswagen Financial Services released provisional figures for the fiscal year 2017 and expects to beat last year’s earnings of $2.4 billion, the company announced last week. According to provisional figures, the portfolio will increase by approximately 8% year over year to more than 19.7 million contracts, which includes contracts in financing, leasing, insurance, maintenance, and inspection. Volkswagen […]

• Emma Sandler
• December 18, 2017
• All Posts, Earnings

Volkswagen’s Originations Decline Amid Mobility Focus

VW Financial Services’ North American originations were down 11.8% for the nine-month period through September, according to the company’s third-quarter earnings. North American originations totaled 647,000 contracts through September, down from 734,000 during the same period the year prior. The pullback in originations was mostly concentrated in leasing, where the company’s total U.S. lease outstandings […]

• William Hoffman
• November 9, 2017
• All Posts, Earnings, Innovation & Technology, Risk Management

AutoGravity Adds Real-Time Inventory Amid Financing Milestone

On the heels of reaching a milestone $1 billion of requested financing on AutoGravity, the startup is introducing real-time inventory on new and used cars for partnered dealership groups, the company announced in a press release this morning.   Prior to the integration, consumers were only able to browse through catalog models of the brands, […]

• William Hoffman
• September 27, 2017
• Innovation & Technology, Risk Management