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Wells Fargo Results Show Credit Tightening

Wednesday, 17 January 2018 01:12
Wells Fargo & Co. showed the effect of auto finance tightening in its fourth quarter earnings results.
The bank reported automobile originations of $4.3 billion in fourth quarter. This was flat compared with the third quarter, and down 33 percent from the fourth quarter of 2016.
Wells Fargo also reported lower losses on automobile financing.
Last modified on Wednesday, 17 January 2018 01:18

NAMAD Honors Automakers for Diversity

Wednesday, 17 January 2018 01:12
The National Association of Minority Automobile Dealers recently presented its third annual Diversity Volume Leadership Awards (DVL Awards).
NAMAD and IHS Markit partnered to celebrate brands that are driving sales leadership with ethnic consumers, while also addressing and educating the industry about the necessity of dealer ownership increasing to reflect a diverse population. The DVL Awards were announced Jan. 14, at Cobo Center ahead of the North American International Auto Show. 
Winners of the DVL Awards demonstrated the highest new vehicle registrations with ethnic, women, and millennial consumers. This year's awards were based on an analysis of more than 13 million personal new vehicle registrations from IHS Markit for the 2017 model year.
This year, NAMAD and IHS Markit honored American Honda with the "Top Overall Ethnic Vehicle" DVL Award, for the second year in a row. This award honors automotive brands dedicated to driving sales leadership with Asian, Native American, Hispanic and African American car buyers. 
Overall, GM and its brands received 11 DVL Awards, Honda-six DVL Awards, Toyota/Lexus received nine DVL Awards, Ford received two DVL Awards, Mercedes-Benz received one DVL Award, and Harley-Davidson received one DVL Award.
Last modified on Wednesday, 17 January 2018 01:16

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