Toyota Financial Services maintained its position as the largest auto lender in 2023, with outstanding volume reaching $114.5 billion by yearend. Despite a decline in originations, the overall auto finance industry saw growth. TFS experienced a 4.5% increase in loan and lease outstandings compared to the previous year, according to an analysis by Auto Finance News.
FAQ
1. How did Toyota Financial Services perform in 2023?
Toyota Financial Services was the largest auto lender by outstanding volume in 2023, with $114.5 billion in loan and lease outstandings at yearend.
Conclusion
Despite a decline in originations, Toyota Financial Services maintained its position as the top auto lender in 2023. The overall auto finance industry showed growth, with TFS experiencing a 4.5% increase in loan and lease outstandings compared to the previous year.
