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Second Quarter

No Bubbles Here

The auto finance industry continued to quell the subprime bubble talk, with finance sources extending credit to five times more superprime car buyers than deep subprime shoppers.

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Asbury: 'Choppy' Retail Environment Drives Down Q2 F&I Gross Profit

Asbury increased its F&I per-copy average 3% to $1,436 in the second quarter. But total F&I gross profit fell due to a 'Choppy' retail environment, officials said.

Ally Financial Moving More Downstream Into Higher Risk Tiers

During Ally Financial's second quarter earnings call, company officials said the finance source is moving downstream into the higher risk, higher yield credit tiers and focusing less on the low-risk superprime loans.

EchoPark, F&I Offset Sagging Sales Numbers for Sonic in Q2

Poor retail sales were offset by a 3.1% increase in total F&I gross profit and a 40.5% increase in revenue at Sonic Automotive's EchoPark locations. While declining oil prices have hurt the company's performance in the Houston market, officials are confident the group will recover.

GM Financial Maintains ‘Credit and Pricing Discipline’ in Q2

Despite a competitive subprime auto finance environment, GM Financial continued gravitating toward a more prime-like credit profile during the second quarter.

Q2 Auto Originations Total $8.3 Billion for Wells Fargo

Wells Fargo reported second quarter auto originations of $8.3 billion, a 7% gain from the first quarter of the year and a 2% gain from the year prior. Bank officials, however, reported higher delinquencies and net charge-offs.

Outstanding Auto Loan Balances Reach Record High, Experian Reports

The total dollar amount of automotive loan balances outstanding hit $839.1 billion in the second quarter of 2014, up 11.7% from the previous year. Officials said the industry should watch this trend closely, as it may dictate the availability of credit in the future.

Ally Posts Near-Record Originations in Q2

The auto finance source also recorded record used-vehicle originations and grew its dealer network by more than 900 dealers in the second quarter.

AutoNation Discusses CFPB, Digital Push

AutoNation reported during its second-quarter investor call that it has installed the NADA’s Fair Credit Compliance Program in nine stores. Officials also provided an update on the company’s digital push.

Dealertrack Reports Strong Q2 Financial Results

Dealertrack updated its 2013 guidance to reflect strong second quarter performance and 26 percent year-over-year revenue growth.