DETROIT — Ally Financial Inc.’s net income surged in the third quarter as the lender generated its highest level of auto loan and lease originations in five years. The Detroit company reported net income of $ 476 million in the third quarter, a 25 percent increase from last year’s third …
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GM Financial’s loan originations plunged 35 percent in the fourth quarter as a new incentive program offered by General Motors got off to a slower start than anticipated. Despite the decline, lease originations and net income rose, and revenue inched up slightly. In the fourth quarter, loan originations at GM’s …
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The nation’s largest auto lenders capped off 2019 with strong origination growth amid shrinking new-vehicle sales. Ford Motor Co.’s lending arm posted its best results in nine years, while Santander Consumer Holdings USA set record-high auto originations for the year. Originations slid for General Motors, meanwhile, as a result of …
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