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Toyota, Lexus dealers’ monthly e-contracting use climbs to 92%
Toyota and Lexus dealers’ use of Toyota Financial Services (TFS) and Lexus Financial Services (LFS) e-contracting has averaged 92% monthly since February 2020, as digital transactions accelerated amid...
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5 questions with … Toyota Financial Services VP of Sales Joanna Dean
Joanna Dean, group vice president of sales , Toyota Financial Services Toyota Financial Services’ (TFS) Group Vice President of Sales Joanna Dean has strengthened relations with Toyota and Lexus...
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Toyota already leads VW by over 1 million vehicles in global car sales race
Toyota Motor Corp. looks poised to repeat as the world’s largest automaker for a third straight year, having outsold Volkswagen AG by more than 1 million vehicles through April. While both automakers’...
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73-84-month loans on new and used vehicles increase YoY in Q1 2022
The share of longer-term loans on new and used vehicles increased year over year in the first quarter of 2022, as average vehicle transaction prices tick up amid ongoing supply chain issues and...
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Toyota Financial Services announces 7 executive leadership changes
Toyota Financial Services (TFS) has shaken up its executive leadership team with seven new appointments that are geared toward driving growth and improving dealer and customer relations. TFS’ moves...
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Toyota Financial Services issues $750M diversity bond
Toyota Financial Services (TFS) has issued a $750 million medium-term diversity and inclusion bond with a maturity date of Aug. 18, 2025. WHY IT MATTERS: Diversity bonds enable women- and minority-led...
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Toyota Financial to host digital transformation workshop at AFS
Toyota Financial Services’ (TFS) Digital Learning Manager Laura Martinez and TFS Academy Learning Master Amanda Mintz will host a hands-on workshop focusing on strategies to attract, retain and develop...
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Mazda Financial Services President Pete Carey to retire
Pete Carey, group vice president at Toyota Financial Services and president of Mazda Financial Services (MFS), will retire on Sept. 30 after 29 years at Toyota. Carey helped develop and launch MFS...
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Under the Hood: Financiers reinvent leasing amid slump
Financiers are refreshing their product pipelines as leasing’s popularity has taken a hit. The one-two punch of increased car prices and rising interest rates has knocked down leasing volume, and that...
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Toyota Financial Services’ subvented financing rates pick up
Subvented rates at Toyota Financial Services (TFS) picked up in the U.S. market in the third quarter amid the Federal Reserve raising interest rates to curb inflation and new-vehicle supply continuing...
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2022 auto ABS issuance volume drops 17% YoY
Auto asset-backed securities volume dropped year over year as widening spreads and inflationary pressures created a less-than-ideal funding market for auto lenders. ABS volume clocked in at $110...
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Toyota keeps conservative profit view as CEO transition looms
Toyota Motor Corp. posted third-quarter profit that topped estimates, but kept its conservative outlook for the year intact in the face of stubborn component shortages ahead of a change in leadership....
View ArticlePenFed offers auto loan relief to federal employees
PenFed Credit Union is offering relief assistance on auto loans to consumers who could be furloughed in the event of a government shutdown over the weekend. If Congress does not approve funding for...
View ArticleToyota Motor Credit fined $60M by CFPB
The Consumer Financial Protection Bureau has ordered Toyota Motor Credit Corp. to pay $60 million for infractions related to ancillary products and bad data reporting to consumer credit reporting...
View ArticlePodcast: ‘Weekly Wrap’ speaks to Toyota CFPB oversight, subprime credit...
The Consumer Financial Protection Bureau continued to focus on the sale of ancillary products to consumers, fining Toyota Motor Credit Corp. $60 million for violations related to ancillary products and...
View ArticleIncentives lean heavily on leasing
Vehicle incentives favor leasing and shorter-term loans as inventory rebuilds and automakers tap into pent-up demand. Cash deals on leases along with lower interest rates tied to shortened-term loans...
View ArticleToyota Financial Services names Scott Cooke CEO
Toyota Financial Services President and Chief Executive Mark Templin is stepping down as leader of the captive effective Jan. 2, with Scott Cooke, senior vice president and chief financial officer, set...
View ArticleToyota Financial Services new CEO Cooke on key relationships
Toyota Financial Services Chief Executive Scott Cooke is leaning on his decades of experience at the company and a strong team as he steps into his new role. Cooke was named CEO of the captive in...
View ArticleMazda renews Toyota private label agreement
Mazda North American Operations has renewed its private-label financing agreement with Toyota Motor Credit Corp. Mazda Financial Services (MFS) was formed in April 2020 to provide financing options...
View ArticleAgainst all odds: Auto market holds steady
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...
View ArticleAlly 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...
View Article4 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...
View ArticleCalifornia 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...
View ArticleTemplin 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....
View Article3 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...
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