Alec Hagey, the newly appointed CEO of Toyota Financial Services, has been at the helm for mere weeks, but he's already diving headfirst into the pressing issues facing the nation's largest captive finance company. In a recent interview, Hagey highlighted the daunting challenge of affordability, which has become a major obstacle for many consumers in the US. As the automotive industry continues to shift towards electric vehicles (EVs), Hagey also weighed in on the uncertain landscape of EV residual values, a crucial factor in determining the long-term profitability of EV financing. With private label growth on the horizon, Hagey's vision for Toyota Financial Services is set to shape the future of the company and the broader automotive finance industry.
New Toyota Financial Services CEO Alec Hagey discusses affordability challenges, EV residual values and private label growth opportunities in his first weeks leading the nation’s largest captive ...
