Ally Financial originated $639 million in battery and hybrid EV leases during the second quarter, spurred in part by the bank’s most recent relationship with the...
Several banks with large auto finance portfolios faced operational disruptions after an IT outage at cybersecurity firm CrowdStrike caused massive outages Friday for industries including banks...
Ally Financial’s second-quarter auto originations declined year over year, while lending performance worsened. Originations were $9.8 billion, unchanged sequentially but down 5.7% YoY, according to the...
EV values fell nearly 15% year-over-year in July, continuing a downward trend over the past two years. As of July 11, the Exponential Used Electric Vehicle...
Chase Auto’s origination volume declined year-over-year in the second quarter as the bank prioritized margins while consumer lending performance was in line with expectations given macroeconomic...
Wells Fargo Auto’s origination volume fell during the second quarter as the bank’s auto portfolio shrank. Auto loan originations came in at $3.7 billion, down 22.9...
Powersports manufacturers are working to align inventory with consumer demand to support dealers as the retail environment remained challenging in June. Manufacturers “definitely reacted quite a...
Fifth Third Bank faces $20 million in fines after the Consumer Financial Protection Bureau issued an order today alleging the lender engaged in illegal activity related...
Wholesale used vehicle values fell month-over-month and year-over-year in June as sales surpassed year-ago volumes. The Manheim Used Vehicle Value Index fell to 196.1 in June,...
Electric vehicle maker Lucid Motors delivered more vehicles in the second quarter of 2024 than it did a year ago, as EV sales were broadly positive...
