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PNC Financial appoints new president and other staff moves

PNC Financial appoints Lyons president  Pittsburgh-based PNC Financial Services Group has named Michael P. Lyons president following a unanimous vote by the board...

Carvana originations nearly flat as credit tightens

Used-vehicle retailer Carvana’s loan originations ticked down in the fourth quarter following months of credit tightening as the company eyes credit scoring improvements. ...

Axis Auto Finance explores sale

Toronto-based non-prime lender Axis Auto Finance is eyeing a potential merger or sale of the company.  Axis formed a “special committee” of independent...

Arivo CEO prioritizes AI | Auto Finance News

Subprime lender Arivo Acceptance Chief Executive Landon Starr will continue to embrace technology while making structural adjustments to the company’s operations in his new...

Rivian, Lucid eye finance growth

EV manufacturers Rivian Automotive and Lucid Motors are expanding the scope of their finance arms as deliveries increased in the fourth quarter.  Rivian...

Tech spurs enhanced risk measures

Advances in digitalization and machine learning are sparking a need for lenders to revisit operational risk management protocols. In the wake of the...

The big miss on electric cars is remaking Europe’s auto industry

Volkswagen, Renault and Stellantis are thinking the unthinkable, exploring tie-ups with sworn competitors to make cheaper electric vehicles and fend off existential threats. As Chinese rivals...

Thailand, Indonesia debut EV incentives

Thailand and Indonesia are introducing incentives to encourage EV adoption, the Wall Street Journal reported.   Thailand’s new policies include tax deductions for...

Rivian cuts 10% of salaried staff

Rivian Automotive Inc. revealed plans to cut 10% of its salaried workforce and set production guidance well below Wall Street’s expectations as the...

High values put pressure on LTVs

Elevated vehicle prices have continued to put pressure on used-vehicle loan-to-value ratios. LTVs for used vehicles remained high in the fourth quarter while...
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