Auto, powersports originations mixed

Auto and powersports financiers mostly reported lower originations and sales for the last quarter as shifting spending patterns by cash-strapped consumers fuel uncertainty.

Lenders that reported fewer sales and loan originations, according to their respective earnings releases, include:

• Credit Acceptance Corp.’s consumer loan assignment volume, down 9.1% year over year in its fourth quarter;
• GM Financial’s Q4 loan lease originations, down 18.7% YoY;
• OneWater Marine’s F&I revenue, declined 5.4% YoY in its fiscal first quarter;
• Tesla’s lease portfolio in Q4, dropped 12% YoY; and
• Volvo’s North American Q4 sales, down 19.6% YoY in Q4.

However, some financiers reported positive results last quarter:

• Group 1 Automotive’s F&I revenue climbed 1.9% YoY;
• Polaris’ Q4 sales climbed 9.5% YoY in Q4; and
• MarineMax’s F&I revenue for its fiscal Q1 climbed 0.9% YoY and total revenue climbed 7.8% YoY.

Meanwhile, mergers and acquisitions in the RV and marine industries are on the rise after a yearslong slowdown following the pandemic.

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