Tight incentive requirements are making it difficult for Stellantis dealers to push leases despite Stellantis Financial Services’ portfolio growth in the second quarter.  Stellantis NV has pulled back incentive programs to specifically target certain vehicles and consumers already in a Stellantis lease, largely due to the desire to growth Stellantis Financial Services (SFS), Jay Slingerland ..read more

Ford Credit expects to issue upward of $33 billion in public funding volume in 2024 and to increase its auto asset-backed securities issuance on a dollar basis by yearend.   The captive issued $10 billion in auto asset-backed securitization (ABS) volume year to date through July 23, according to Ford Credit’s July 24 second-quarter earnings ..read more

Reggie Branch, senior director of indirect lending at Arvest Bank, is striving to lead his team with kind, transparent and dignified communication, while encouraging investments in data and analytics to support the bank’s growth. “I have been in too many situations where ‘leaders’ were not honest,” Branch told Auto Finance News.  Branch’s career spans more ..read more

The Federal Reserve is likely to signal next week its plans to cut interest rates in September, according to economists surveyed by Bloomberg News, a move they say will kick off reductions each quarter through 2025. Nearly three-quarters of respondents say the US central bank will use the July 30-31 gathering to set the stage ..read more

Ford Credit’s earnings declined in the second quarter while the lender’s portfolio increased, and the captive resumed distributions to parent company Ford Motor Co.   The financier’s earnings before taxes came in at $343 million in Q2, up 5.2% QoQ but down 10% year over year, according to Ford Credit’s July 24 earnings presentation.   Ford ..read more

Harley-Davidson Financial Services’ retail originations declined year over year in the second quarter while credit losses fell and retail sales ticked up.  HDFS did not break out retail origination totals in its earnings release, but Harley-Davidson Chief Financial Officer Jonathan Root said during a company earnings call today that originations fell 4% YoY in Q2.  ..read more

Executives from ThunderRoad Financial and Ironhorse Funding will discuss how to streamline operations to improve collections and recoveries at PowerSports Finance Summit 2024 taking place Oct. 9-10 at Wynn Las Vegas.  View the full event agenda here.    The session on streamlining operations will feature ThunderRoad’s President and Chief Executive Donal Hummer and Ironhorse’s CEO Jon ..read more

Tesla’s leasing penetration and deliveries dipped in the second quarter as the EV maker faces increased competition from automakers bringing their own EVs to market.   Leased Teslas accounted for 2.3% of total deliveries compared with 2.2% in Q1 and 4.7% in Q2 2023, according to the company’s July 23 earnings presentation. Deliveries rose 14.8% quarter ..read more

Capital One Auto Finance’s originations increased quarter over quarter and year over year for the second consecutive quarter, further highlighting the bank’s change in appetite for auto loans after pulling back in 2022 and 2023.  Second-quarter originations totaled $8.5 billion, up 12.5% QoQ and 18.2% YoY, according to the bank’s July 23 earnings supplement.   ..read more

The Auto Finance News team is pleased to announce that Joseph Portera, senior vice president and chief business risk officer with Capital One Financial Services, will sit down for a one-on-one fireside chat as part of the Auto Finance Summit 2024, which takes place Oct. 7-9 at the Wynn Las Vegas.  View the full event agenda here.   The fireside chat will be at 10:20 a.m. on Oct. 8 and will provide a platform for Capital One’s Portera to discuss the following:  The economy;  Innovation and industry trends;  Fresh growth ideas; and  Market expectations for 20 ..read more