Podcast: Discussion on Q3 earnings, auto lease ABS issuance

Podcast: Discussion on Q3 earnings, auto lease ABS issuance

More auto lenders announced year-over-year origination growth last week in their third-quarter earnings reports.

Carvana posted a 35.5% YoY increase in originations in Q3 as retail sales jumped 34.2% YoY and 7.1% quarter over quarter to 108,651 units. The increase in originations comes as the financier and retailer saw “record performance in virtually every key financial measure,” Carvana Chief Executive Ernie Garcia said during the company’s Oct. 30 earnings call.

Subprime lender Credit Acceptance Corp.’s (CACC) consumer loan assignments increased 17.7% YoY but fell 4.4% sequentially on a unit basis to 95,670, according to its Oct. 31 earnings release. CACC’s consumer loan assignments rose 12.2% YoY on a dollar basis.

Similarly, AutoNation Finance’s year-to-date originations grew to more than $700 million in the third quarter amid efforts to reach $1 billion in total originations this year.

In powersports, boat manufacturer Brunswick’s boat sales sank 19.4% YoY and 20.5% sequentially to $345.3 million in the third quarter. The manufacturer’s full-year retail expectations, which were adjusted in Q2, are estimated to drop by about 10% YoY, according to the earnings release.

In this episode of the “Weekly Wrap,” Auto Finance News Associate Editors Ashley Savage and James Van Bramer discuss key takeaways from third-quarter lender and retailer earnings and the latest news on auto lease ABS issuance volume.

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Episoder(335)

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