Ally, Chase, Wells see auto origination growth in Q2

The Auto Finance Roadmap

Ally Financial, Chase Auto and Wells Fargo Auto all reported an increase in auto originations in the second quarter, driven in part by a pull-ahead in car purchases by consumers anxious to buy before tariff-induced price rises.

Ally Financial’s auto originations jumped 12.2% year over year in Q2 to $11 billion, while Chase Auto’s originations ticked up 4.6% YoY to $11.3 billion. But the bigger news was Wells Fargo’s auto originations surging 86.5% YoY to $6.9 billion, according to the banks’ earnings reports.

Huntington Auto Finance’s originations rose 9.5% YoY to $2.3 billion. Ally Financial and Chase Auto also reported growth in lease volume during the quarter.

Meanwhile, credit performance improved across most banks in Q2, with auto delinquencies and net charge-offs down YoY. Bank of America’s auto net charge-offs declined 3 basis points YoY to 0.17%.

Regional bank performance was mixed, with U.S. Bank’s indirect loan and lease originations down 29.1% YoY to $1.4 billion and auto outstandings up at Fifth Third Bank and PNC Financial.

Also last week, auto lenders dived into trends across automation in underwriting in the Auto Finance News webinar “Digital Strategies for Exceptional Customer Experiences.”

In this episode of the “Weekly Wrap,” Auto Finance News Editor Amanda Harris, Senior Associate Editor Truth Headlam and Associate Editor Aidan Bush discuss trends across second-quarter bank earnings for the week ended July 18.

Auto Finance Summit, the premier industry event for auto lending and leasing, returns Oct. 15-17 at the Bellagio Las Vegas. To learn more about the 2025 event and register, visit www.AutoFinance.live/AFS.