Axis Auto Finance’s vehicle loans continued to decrease in the third quarter as the lender has tightened its credit standards and prepares for a sale. Vehicle loans dropped 45.1% from the previous quarter and 86.1% compared to the same period last year, totaling $4.5 million in Axis’ Q3 of fiscal year 2024, ending on March 31, as stated in the lender’s May 15 earnings report.
FAQs
- What is Axis Auto Finance’s current focus?
- How much did auto originations decrease by in the third quarter?
- When is Axis Auto Finance’s fiscal year 2024 ending?
Conclusion
Axis Auto Finance’s auto originations have experienced a significant decline in the third quarter of fiscal year 2024, indicating a shift in the lender’s credit strategy. With a tightening credit environment and preparations for a sale, Axis continues to navigate through changes in the auto financing landscape.
