The auto finance sector is showing signs of improving affordability and resilient loan production amid gradual dips in vehicle prices and loan rates while concerning credit performance and inflationary pressures remain. Delinquencies are up but not historically high, while interest rates are at a two-decade high but a cut could come by the end of […]
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Against all odds: Auto market holds steady
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Ally Financial names Mehlman first chief legal, corporate affairs officer
Hope Mehlman has been appointed to serve as Ally Financial’s first chief legal and corporate affairs officer, effective Dec. 2. In the newly created role, Mehlman will lead the bank’s new legal and corporate affairs office, overseeing regulatory and legal matters, according to a Sept. 9 Ally release. . She will be responsible for the […]
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4 auto finance executives to watch in 2025
The auto finance industry is charging ahead, driven by leaders ready to shape the future. This year, the industry faced a tough road, from high interest rates to affordability concerns and limited credit access, to name a few headwinds. Many of these challenges carried over from 2023. Despite the roadblocks, some industry players managed […]
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California wildfires contribute to auto insurance hikes, deferrals
Wildfires are contributing to a spike in auto insurance rates in California and payment deferral options from auto lenders. The average annual cost of full-coverage car insurance in California rose 47.8% year over year in December 2024 to $2,575, according to the latest data from Insurify, an insurance comparison company. The average annual cost of […]
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Templin named COO of Toyota Motor North America
Toyota Motor North America on Jan. 22 promoted Mark Templin to executive vice president and chief operating officer, effective Jan. 27, following the retirement of former EVP and COO Jack Hollis. Templin joined Toyota in 1990 and, before this promotion, was director and COO of Toyota Financial Services, among other executive roles he has filled […]
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3 ways Toyota Financial Services taps gen AI
Toyota Financial Services is harnessing generative AI to enhance productivity and modernize its capabilities. As the auto lender explores generative AI, its first concern has been protecting consumer data, Brajesh Kumar, chief technology officer at Toyota Financial Services (TFS), said during a panel on Jan. 22 at the American Financial Services Association 2025 Vehicle Finance Conference. “We wanted […]
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