Consumer credit health remains pivotal for Subaru Auto Finance’s outlook, with April’s FICO score distribution showing 68% prime borrowers, reducing default risk in 2024 forecasts. On the news front, Toyota's credit division is set to pay $60 million in fines for illegal lending practices and violating the Fair Credit Reporting Act. Ford will reduce investment in its $3.5 billion Michigan battery plant due to lower-than-expected demand for electric vehicles (EVs), high cost of labor and the company's cost-cut strategy. Close peer General Motors’ self-driving unit, Cruise, has hit a roadblock. It is facing a critical safety crisis, which has cast a shadow on its ambitious vision to revolutionize urban transportation. Amid the challenges, the company has scaled back its robotaxi ambitions to one city. Italian-American automaker Stellantis joined forces with CAL to localize the supply of LFP batteries in the European market. Like many other Americans, luxury car owners make monthly auto payments. When they pay, it is often to entities that carry the names of their cars—McLaren Financial Services, Aston Martin Financial Services, the Land Rover Financial Group—but who they actually pay is the country’s largest bank. Subaru Auto Finance loan-backed securities are showing tighter spreads in secondary markets, reflecting strong investor appetite and confidence in the underlying auto loan portfolio’s creditworthiness.