Alec Hagey, the newly appointed CEO of Toyota Financial Services, is addressing the pressing issues facing the automotive finance industry. In his initial weeks at the helm, Hagey highlighted the growing concerns of affordability, as consumers grapple with rising interest rates and increasing vehicle prices. Additionally, he touched on the challenges of electric vehicle (EV) residual values, a crucial aspect of financing that has been impacted by the rapid shift towards electrification. As the nation's largest captive finance company, Toyota Financial Services plays a significant role in shaping the future of automotive lending, and Hagey's insights into private label growth opportunities will be closely watched by industry observers.
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 ...
