🧠 At a Glance:
Toyota’s car sales may run on engines, but its profits? Pure finance.
And now, Toyota Motor Credit Corporation (TMCC) — the silent lender behind those “0% APR” dreams — has filed its FY2025 10-K. Here’s what we found:
- 🔻 Net Income is down
- 📉 Delinquencies are up
- 💸 Loan book is ballooning
- 🏦 Borrowing costs are rising
Basically, TMCC is America’s biggest car dealership dressed up as a bank — and 2025 might be the year the gears start grinding.
🏢 About Toyota Motor Credit Corporation (TMCC)
- Subsidiary of Toyota Financial Services, operating in the U.S.
- Provides:
- Vehicle loans and leases to retail customers
- Dealer financing for Toyota and Lexus
- Securitization of auto receivables (because debt = magic 🪄)
- Based in Plano, Texas (yeehaw meets yen)
💼 Who Runs the Money Engine?
| Key Executives | Role |
|---|
| Mark Templin | CEO of Toyota Financial Services Americas |
| Scott Cooke | CFO |
| Christopher Ballinger (earlier) | Strategic Finance |
These aren’t your average car dealership managers. These are quant-laced finance pros running a multi-billion dollar auto-finance empire.
💰 FY2025 Financial Highlights
| Metric | FY2024 | FY2025 | % Change |
|---|
| Net Revenues | $5.82B | $5.61B | 🔻 -3.6% |
| Net Income | $1.62B | $1.35B | 🔻 -16.6% |
| Total Assets | $148B | $153.7B | 🔼 +3.9% |
| Loan Portfolio | ~$116B | ~$120B | 🔼 +3.4% |
| Delinquency Rate (60+ days) | 0.33% | 0.52% | ⚠️ +57% |
Yes, the profits are down, but the real shocker? Delinquencies are up 57% YoY.
