Much as in the UK, US new vehicle sales in 2012 hit their highest point since the credit crisis, although remained 9.9% below 2007 levels. Richard Brown surveys retail finance in the States.

Across five states – California, Michigan, New York, Texas and Virginia – taken by Auto Finance News as a sample of the US market, only Toyota Financial Services, Ford Motor Credit, Ally Financial and Chase Auto Finance made the top 10 loan/lease providers in each.

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From the figures for the five states, Toyota FS now appears to be both the biggest player and biggest manufacturer captive finance partner, with Chase AF as the biggest independent (taking Ally Financial to be synonymous with General Motors’ (GM) operation).

Toyota FS has certainly witnessed the greatest year-on-year growth of the companies, and the only one to beat the market average year-on-year growth for loan and lease business in the five states, though all four companies have posted growth in 2012.

Of the four finance providers by state, only Ford Motor Credit in Michigan and Ally Financial in Virginia witnessed a year-on-year decline in overall business for October. Toyota FS also saw more business in October than any other finance provider in each of the five States except Michigan – home to Detroit and GM – where Ally Financial was top.

Although the most-populous state, California recorded a total of 161,792 loans or leases in October compared to 180,275 in Texas (the largest state in the sample).

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California was also dominated by Toyota FS, Wells Fargo Dealer Services and American Honda Finance, which each posted total loans and leases in five figures, compared to Texas where the spread of business was more even between the top 10, including Santander Consumer Finance which has its US headquarters in the States.

richard.brown@timetric.com