According to a story posted on SubPrime Auto Finance News, Chase’s 2012 auto originations rise 11%.
NEW YORK — Despite a bit of a dip as 2012 closed, Chase Auto Finance finished the year with a double-digit climb in auto originations.
The company recently reported originations jumped by 11 percent to $23.4 billion, up from the $21.0 billion Chase generated in 2011.
Chase originated $5.5 billion in auto loans during the fourth quarter, an amount 12 percent above the year-ago figure of $4.9 billion. However, the company originated $6.3 billion in the third quarter so Chase did finish 2012 with a 13-percent quarter-over-quarter decline.
As the result of its origination activity, Chase said its average amount of auto loans on the books settled at $49.3 billion at the end of the fourth quarter, up 5 percent from the prior year and 2 percent from the prior quarter.