Harley-Davidson Financial Services originated $709.8 million — up 3.8% year-over-year — in the first quarter, according to the company’s earnings call today. Annualized net losses — at 2.3% in 1Q — were up 33 basis points from the prior-year quarter, and to top the highest level the captive has seen since the fourthRead More
Post Tagged with: "credit losses"
Riders in 30 states can now drive a Polaris Slingshot with a valid state driver’s license — instead of a previously required motorcycle license — which could boost sales and even lower credit losses on the three-wheeled vehicles, according to Donal Hummer Jr., ThunderRoad Financial’s chief executive. ThunderRoad Financial isRead More
DALLAS — Auto delinquencies are rising across the industry, but the increase has been most prominent in subprime segments. Although Commerce Bank mainly extends auto loans in the prime spectrum, it’s still keeping a watchful eye, said Robert Griffin, the bank’s indirect lending manager.
Westlake Financial Services is eyeing expansion for its powersports portfolio this year, from adding new dealers to the network, to launching e-contracting, according to David Goff, the lender’s assistant vice president of marketing. Westlake will roll out e-contracting to powersports dealers this year, shortly after the nationwide expansion of e-contracting toRead More
Harley-Davidson Financial Services loan-loss provision shot up 119% year over year — to $39.8 million — in 2016, driven by higher retail credit losses. The decline came amid a 2.3% year-over-year decline in originations, to $3.1 billion. Losses — up 40 basis points to 1.8% in 4Q16 — continue to reach record highs unseenRead More
Harley-Davidson Financial Services reported a 2.3% year-over-year decline — to $3.1 billion — in total origination volume for 2016 in its latest earnings report. However, loan originations ticked up in 4Q16 to $496.8 million — up 2.8% from the same time a year prior. The captive’s 2016 originations were comprised of 80%Read More
ThunderRoad Financial is taking a more “conservative” approach to financing Slingshot vehicles, due to higher losses — double — than other powersports vehicles in its portfolio, said President and Chief Executive Donal Hummer Jr. “We haven’t pulled back from financing them, but we are being conservative on how we areRead More
LAS VEGAS — Powersports lenders are asking for a co-signer in an effort to strengthen subprime loan approvals, in the wake of a higher level of subprime consumers applying for loans this year, said Donal Hummer Jr., president and chief executive of ThunderRoad Financial. With delinquencies risings and losses peakingRead More