Investor Presentaiton
Auto Finance
3Q 2023 Preliminary Results
.
Auto pre-tax income of $377 million
Pre-tax income down YoY, primarily driven by lower net loss
performance in prior year period
Provision expense up QoQ driven by seasonal trends
Estimated retail originated yield of 10.68%, up 30bps
૨૦૦
Rise in originated yield QoQ while maintaining higher credit
quality mix demonstrates pricing power in current market
environment
Increase in portfolio yield of 161bps YoY, will continue to
migrate towards originated yields over time
Key Financials ($ millions)
Net financing revenue
Total other revenue
Total net revenue
Provision for credit losses
Noninterest expense (1)
Pre-tax income
Auto earning assets (EOP)
Key Statistics
Inc / (Dec) v.
3Q 23
2Q 23
3Q 22
$ 1,360
$
11
$
57
79
(4)
5
1,439
7
62
444
113
116
618
18
57
$
377
$
(124)
$
(111)
$116,354
$
967
$ 5,498
Remarketing gains ($ millions)
Average gain per vehicle
Off-lease vehicles terminated (# units)
Application volume (# thousands)
$
57
$
(12) $
$ 1,944
$ (391) $
6969
18
619
29,484
3,674
(388)
157
(78)
525
Retail Auto Yield Trends
10.91%
10.39%
10.68%
9.57%
Estimated
Originated
Yield (2)
8.75%
8.81%
8.90%
8.49%
7.98%
Portfolio
Yield
7.29%
Lease Portfolio Trends
87%
79%
76%
76%
76%
Lessee &
Dealer
Buyout %
$70
$57
$47
$39
$31
4Q 22
1Q 23
2Q 23
3Q 23
3Q 22
4Q 22
1Q 23
2Q 23
3Q 23
Hedge Impact to Retail Auto Portfolio Yield
0.25%
0.61%
0.82%
0.94%
0.74%
(2) Estimated Retail Auto Originated Yield is a forward-looking financial measure. See page 38 for details.
3Q 22
Avg. Gain / Unit
$1,325
See page 39 for footnotes.
$1,476
$1,932
$2,335
Remarketing
Gains
($ millions)
$1,944
ally do it right.
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