From the November 2009 issue of Treasury & Risk magazine

Bronze AHA Winner in Liquidity Management

Finding liquidity in what was becoming a financial desert was especially important to the beleaguered auto industry. As a result of its financial strength and agility, Toyota Financial Services was able to execute or extend $30 billion in term funding in the year ended in March 2009, while its commercial paper outstanding averaged $22.5 billion during 2008.

That funding was critical to supporting vehicle sales during the crisis. While other lenders were reducing auto lending or leaving the auto finance market, TFS grew to become the top U.S. auto lender in 2008, at times financing up to 70% of the Toyota vehicles sold.

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