Toyota's New Financial Chief Tackles Industry Headwinds In his first weeks at the helm of Toyota Financial Services, CEO Alec Hagey is facing a challenging landscape for the nation's largest captive finance company. With affordability concerns gripping the automotive industry, Hagey is likely to address the growing pressure on consumers to balance rising vehicle prices with stagnant wages. Additionally, the shift to electric vehicles (EVs) is changing the residual value landscape, presenting both opportunities and risks for Toyota's financial arm. As the company seeks to capitalize on the growth of private label credit card offerings, Hagey's leadership will be crucial in navigating these complex issues and driving innovation in the 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 ...
