Toyota Financial has overtaken GMAC Financial Services as the largest auto lender in the U.S., a new report finds. According to AutoCount – the research division of Experian Automotive – Toyota Financial captured 6.35 percent of the U.S.’ vehicle finance and lease contracts through June, while GMAC had a 6.2 percent share of the market during the same period.
Moreover, because of GMAC’s recent cutbacks, Toyota Financial is expected to hold onto its lead for the remainder of the year.
However, contrary to the study’s findings, GMAC spokeswoman Sue Mallino says that GMAC is still holds the number one spot. Mallino claims that AutCount failed to include two wholly owned GMAC subsidiaries, which would have pushed GMAC’s market share to 6.72 percent.
Chase Auto Finance, American Honda Finance and Ford Credit rounded out the top five, respectively.
08/26, 11:26 AM
posted by:
F451
WOW! This is big news. The times they are a-changin’.
08/26, 11:30 AM
posted by:
hangonbig3
The bigger you are….the harder you….well you know the rest.
08/26, 11:32 AM
posted by:
johnnycanuck
…are you referring to GMAC or male enhancement?
08/26, 11:56 AM
posted by:
crackerhemi
Sounds like GMAC is being as big of a baby as GM.
08/26, 12:22 PM
posted by:
oldman420
Concidering GM is no longer going to be leasing vehicles through GMAC this comes as no suprise.
08/26, 12:45 PM
posted by:
400horseSS
Go Toyota ! Go to hell.
08/26, 1:04 PM
posted by:
brassmonkey
It’s hard to read this article when that little snaggle lipped kid is staring at me from the pop up window. What did the article say?