Truist’s auto book shrinks in shift away from low returns
Truist continued to move away from lower-margin business lines, contributing to a decline in its auto portfolio in the fourth…
ABS volume boost, strong sales indicate healthy market
The auto finance industry’s overall health improved in January as auto sales remained strong and securitization issuance rebounded from a…
Stellantis expands flexible financing options
Stellantis is adding vehicle subscriptions to its mobility platform as consumers struggle with affordability and worsening credit. Stellantis subsidiary and…
Dealers urge lender flexibility in aftermarket financing
Dealers are urging lenders to loosen the loan-to-value restrictions on aftermarket products such as service contracts and guaranteed asset protection…
JPMorgan, Fifth Third among banks facing Tricolor losses
JPMorgan Chase & Co., Fifth Third Bancorp and Barclays Plc are among banks bracing for potentially hundreds of millions of…
Ford Pro sales rise, GM fleet sales fall in Q2
Ford and General Motors saw mixed commercial vehicle demand during the second quarter, as tariffs led to fleet customers moving orders ahead amid…
Group 1 F&I revenue grows 8%
Group 1 Automotive’s finance and insurance profits increased in the fourth quarter while finance attachment rates were pressured. The retailer’s…
PenFed IDs 3 types of consumers ripe for refi
Refinancing demand is on the rise as consumers look for ways to save money and lower their payments amid rising…
U.S. appeals court strikes down FTC’s CARS rule
A U.S. appeals court struck down the FTC’s rule aimed at cracking down on unfair and deceptive practices tied to…
Penske, Asbury Auto, Group 1 F&I revenue jumps in Q3
Auto retailers saw rising finance and insurance revenue in the third quarter, despite mixed retail sales across new and used…
Lucid deliveries up, Rivian down in third quarter
Lucid Motors reported an uptick in deliveries and revenue in the third quarter while Rivian Automotive posted declines partly due…
Podcast: ‘Weekly Wrap’ on CDK attacks, powersports
Car dealerships are leaning on manual processes following consecutive cyberattacks against software provider CDK Global last week. Dealers have been…
Leasing reaches 35% of new EV purchases
Leasing has become an attractive option for EV consumers, nearly tripling in the first quarter from a year ago. ….
Used-vehicle values decline 8.9%
Wholesale used-vehicle values declined month over month and year over year in June as sales outpaced the volumes of a…
Podcast: ‘Weekly Wrap’ on auto finance growth, powersports earnings
Auto lenders expect 2024 to be a year of growth driven by technology updates and loosening credit standards. Powersports sales…