![]() "For people that are in and committed like Chase, like Cap One, like ourselves, it's still a very attractive market opportunity at very aggressive returns right now," Brown said. ![]() Executives said that it did so while being pickier in the loans it selected and charging higher interest rates to compensate for greater risks. The company made some $10.4 billion in auto loans during the second quarter, up from $9.5 billion in the first quarter. ![]() Some credit unions and banks have retreated from the sector, but Ally CEO Jeffrey Brown said that void leaves opportunities for Ally and other lenders that have maintained a large presence in auto lending, including JPMorgan Chase and Capital One Financial.Īuto lending remains a "really attractive market for us," Brown said on the company's second-quarter earnings call. auto market as quite healthy overall, even as some lenders pull back and more consumers fall behind on their car payments.Įxecutives at the Detroit-based auto lender said Wednesday that they are well aware of the tougher environment, which has led Ally to offer fewer loans to riskier customers and more to super-prime borrowers whose likelihood to repay is much higher.
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