Financial Data and Key Metrics Changes - The corporate finance business has grown from $2 billion in 2014 to $10 billion today, indicating strong asset growth and profitability [35][37] - The company expects to see double-digit percentage growth year-over-year in consumer auto originations, with yields consistent with strong first-quarter results [60] Business Line Data and Key Metrics Changes - The dealer financial services business has evolved to provide a full spectrum of products and services, enhancing its competitive advantage [6][10] - The corporate finance segment has generated significant fee income, with about 20% of gross revenue coming from fees, particularly syndication income [38][39] Market Data and Key Metrics Changes - The competitive landscape has seen traditional lenders re-entering the deep subprime segment, while the company focuses on the middle credit segments, which are deemed to provide the best risk-adjusted returns [21][22] - Consumer demand remains healthy, with transaction prices being monitored closely, indicating a stable market environment [30][31] Company Strategy and Development Direction - The company emphasizes a "power of focus" strategy, diversifying within its core business areas to drive growth in fee revenue and origination channels [14][15] - The corporate finance business is viewed as a critical driver for achieving mid-teens returns, with a commitment to maintaining conservative credit standards [57] Management's Comments on Operating Environment and Future Outlook - Management remains cautious about macroeconomic factors such as tariffs and their potential impact on vehicle affordability, but believes the company is well-positioned due to a conservative purchase policy and strong credit performance [24][26] - The company is optimistic about its credit portfolio, with low delinquency rates and a focus on maintaining healthy vintages [32][66] Other Important Information - The company has invested significantly in digital technologies to enhance consumer engagement and improve collection processes [33] - The corporate finance business is expanding into new verticals, including infrastructure and energy, which are expected to drive future growth [47][50] Q&A Session Summary Question: How is the company navigating increased competition in the market? - Management noted that competition is balanced, with more aggressive pricing in the super prime segment, but the company remains focused on the middle credit segment where it has a competitive edge [21][22] Question: What is the company's approach to managing credit risk? - The corporate finance business emphasizes a conservative approach to credit risk, with a strong focus on assessing and managing secured commercial credit risk [55] Question: How does the company plan to achieve mid-teens returns? - The strategy includes net interest margin expansion, normalizing credit losses, and disciplined expense management, with a clear path outlined for achieving these goals [64][67]