{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Auto Finance Roadmap","title":"Wells Fargo Auto, Chase Auto originations jump in Q2","html":"","width":"100%","height":180,"duration":418,"description":"National and regional bank second-quarter earnings point to mixed performance as larger banks lean into auto production while regional banks held steady or scaled back amid market volatility.  \nWells Fargo Auto, for one, reported a 40.6% year-over-year increase in originations in Q2, while Chase Auto's originations rose 8.9% YoY. Bank of America's auto book shrank. \nRegional banks saw improvement in auto portfolio delinquencies, but portfolio growth was mixed. Fifth Third Bank's 30- to 89-day delinquencies across its indirect secured consumer portfolio, made up of 84% auto loans, fell 11 basis points (bps) YoY, though net charge-offs inched up 3 bps YoY. \nU.S. Bank's indirect loan and lease originations, which include auto, increased 61.2% YoY, while PNC Financial's auto portfolio ticked down 0.1% YoY. Truist reduced lending in prime and nonprime auto and discontinued originations and RV and marine loans.  \nBuy here, pay here dealer America’s Car-Mart's net charge-offs also rose as sales declined 27.1% YoY and the company eyes restructuring and financial challenges. The Rogers, Ark.-based retailer cut its number of dealerships by 60 locations, or 39%, YoY to 94. \nIn powersports, EV manufacturer Lightship is rolling out consumer financing options for its electric-assist RV trailer. \nIn this episode of “Weekly Wrap,” Auto Finance News Editor Amanda Harris, Senior Associate Editor Aidan Bush and Associate Editor C.J. Moore discuss second-quarter trends across credit performance, portfolio growth, originations, sales and funding. ","thumbnail_url":"https://img.transistorcdn.com/bGxHLOFkdbybG6Gmvn9PfxjEHJwxVQSrreBhCWUsXKc/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzM5MTcvMTY4ODY1/ODM4OC1hcnR3b3Jr/LmpwZw.webp","thumbnail_width":300,"thumbnail_height":300}