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EV values are on the decline, prompting questions about residual values and potential solutions.   Wholesale used-EV prices were down 12.4% year over year in the first half of October, while non-EV values decreased 3.1% over the same period, according to a Cox Automotive report published Oct. 17.   The Exponential Markets Used Vehicle Index The post Falling prices spur discussion of EV residual values   appeared first on Auto Finance News.

Bank earnings last week highlighted mixed results as some institutions saw an uptick in auto originations while others’ portfolios shrank.   Bank of America’s auto originations rose 16.2% year over year to $7.9 billion in the third quarter, while U.S. Bank’s indirect auto loan and lease originations jumped 65% YoY to $1.8 billion. Huntington Bank’s auto The post Podcast: Q3 bank earnings offer mixed results  appeared first on Auto Finance News.

In the male-dominated auto finance industry, Ting Cui, executive director and department head of corporate strategy at Hyundai Capital America, is challenging women to take the wheel in their careers.  “It wasn’t until I worked as a sales leader in a sales division, and later started working in a top leadership team, that I realized The post HCA’s Ting Cui talks navigating barriers at Women in Auto Finance Luncheon  appeared first on Auto Finance News.

Ally Financial logged a decline in auto originations in the third quarter as the lender focused on improving credit performance.   Originations landed at $9.4 billion, down 11.3% year over year and 4.1% quarter over quarter, according to the bank’s earnings supplement released today. Ally received 3.6 million auto finance applications in Q3, down 1.2% YoY The post Ally Financial originations down 11.3%  appeared first on Auto Finance News.

New-vehicle affordability was flat in September as consumers faced ongoing challenges related to high prices, elevated interest rates and rising debt.   The number of weeks of median income needed to purchase a new car was 36.2, a decline of 8.4% year over year and flat with a revised August reading, according to the Cox The post High prices, rising debt add to ‘affordability crisis’ appeared first on Auto Finance News.