Wells Fargo eyes responsible growth of auto amid tariffs
Wells Fargo Auto’s origination volume grew year over year in the first quarter as the bank is prioritizing responsible growth…
Lithia captive originations up 30%
Lithia Motors’ captive finance arm, Driveway Finance, originated $731 million in loans during the second quarter as finance and insurance…
NextGear Capital salvage, heavy-duty truck portfolios grow 51%
Independent dealer floorplan financing provider NextGear Capital’s salvage and heavy-duty truck businesses have gained steam as floorplan lenders saw growth…
Lendbuzz retrains credit models as expansion sees defaults double
AI-based auto lender Lendbuzz’s default rate doubles when the lender expands into a new region, prompting updates to the financier’s…
Podcast: Industry reacts to tariffs, subprime market tightening
The auto industry is rapidly responding to tariffs that took effect last week, while subprime lenders continue to navigate risk…
Leases help dealers weather challenging market
Since the Federal Reserve started raising interest rates more than a year ago, auto industry challenges have created a difficult…
Tricolor employees sue over sudden layoffs ahead of bankruptcy
A lawsuit filed against subprime auto lender and buy here, pay here retailer Tricolor Holdings alleges its sudden closure and…
Sonic Auto F&I revenue up 14.8% YoY, Penske down 2.1% YoY
Auto retailers Sonic Automotive and Penske Automotive reported mixed results in finance and insurance revenue in the fourth quarter as…
Big bank earnings to plug ‘data vacuum’ amid government shutdown
The earnings reports from Wall Street’s biggest banks are poised to get even more scrutiny than usual this week, as…
Stellantis cites progress on US inventories as revenue drops
Stellantis NV’s third-quarter revenues slumped 27% as the automaker shipped fewer cars from factories in most of its major markets….
Fed: Incentives spur sales bounce in NY, NH
Increased incentives have spurred vehicle sales in recent weeks in regions where sales had been soft amid high prices. The…
Increased scrutiny raises costs of ancillary product refunds
Auto lenders, dealers and aftermarket product providers face an uptick in regulatory oversight that will require collaboration to streamline processes…
Honda to sell plug-in hydrogen vehicle in North America, Japan
Honda Motor Co. will introduce a hydrogen fuel cell vehicle that can also be recharged, becoming the first Japanese automaker…
SCUSA’s Betty Jotanovic on expanded small-business financing
Santander Consumer USA is expanding small-business vehicle financing options to its dealer network in response to demand and as the…
GM Financial’s Berce reflects on legacy of culture, innovation
Dan Berce’s creation of a company culture that supports technological innovation, risk-based decision-making and long-standing tenure will remain core to…