ORLANDO, Fla. — Experian Automotive’s AutoCount has ranked
the top auto finance lenders for 2008, listing Toyota Financial Services at the
No. 1 spot and revealing that GMAC, Ford Motor Credit and Chrysler Financial
Services lost significant market share in a watershed year for the U.S.
automotive industry.
Last year, the domestic captives represented three
of the top four spots on the AutoCount list, with GMAC leading the pack. In
2008, credit unions and regional banks made significant gains as traditionally
strong financing sources were forced to work with fewer dealers and finance
fewer customers in the face of tightening capital and credit markets.
Here are the top auto finance lenders based on market share in 2008,
according to AutoCount:
1. Toyota Financial
Services (6.5%)
2. GMAC Financial Services
(5.2%)
3. American Honda
Finance (5.2%)
4. Ford Motor Credit
(4.7%)
10. BMW
Bank of North America
(1.7%)
GMAC and Chrysler Financial discontinued lease originations last
summer, signaling an industrywide retreat from the segment. Non-captive lenders
helped to fill the gap, but it remains to be seen if leasing will see a
significant rebound in 2009.
Here are AutoCount’s top ten auto lessors
for 2008 (based on percentage of new- and used-vehicle sales):
1. American Honda
Finance (12.7%)
2. Toyota Financial
Services (12.2%)
