Credit Acceptance Corp - Company Profile
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Credit Acceptance Corp (CAC) is a provider of auto finance solutions, which comprises of vehicle loans, vehicle service contracts and global positioning system-based starter interrupt devices. The company’s loan programs comprise of portfolio program, which advances money to dealers in exchange for the right to service the underlying consumer loans; and purchase program, through which the company buys the consumer loans from the dealers and keeps all amounts collected from the consumer. CAC markets its products through a wide network of independent and franchised automobile dealers and third-party providers located in the US. It primarily has an operational presence in Michigan, New York, Ohio, Texas, New Jersey. CAC is headquartered in Southfield, Michigan, the US.
Headquarters
United States of America
Address
25505 W 12 Mile Rd, Southfield, Michigan, 48034-1846
Website
www.creditacceptance.com
Telephone
1 248 3532700
No of Employees
2,246
Industry
Financial Services
Ticker Symbol & Exchange
CACC (NASD)
Revenue (2022)
$1.8B
-1.3%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
-44.1%
(2022 vs 2021)
Market Cap*
$6.4B
Net Profit Margin (2022)
XYZ
-43.4%
(2022 vs 2021)
* As of and is in US$
Credit Acceptance Corp premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Auto Loans | Vehicle Service Contracts |
| Global Positioning Systems (GPS) with Starter Interrupt Devices (SID) |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2018 | Corporate Awards | The company was recognized as the Best and Brightest Companies to Work For, by the National Association for Business Resources. |
| 2017 | Corporate Awards | In September, the company was named as the Best Workplaces for Women by Great Place to Work and Fortune |
| 2017 | Corporate Awards | In August, the company was named as one of Metropolitan Detroit's Best and Brightest Companies to Work For. |
Competitor Comparison
| Key Parameters | Credit Acceptance Corp | General Motors Financial Company, Inc. | Ford Motor Credit Company LLC | Santander Consumer USA Holdings Inc | CarMax Business Services, LLC |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Southfield | Fort Worth | Dearborn | Dallas | Richmond |
| State/Province | Michigan | Texas | Michigan | Texas | Virginia |
| No. of Employees | 2,246 | 9,000 | 5,100 | 5,576 | - |
| Entity Type | Public | Private | Private | Private | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Thomas N. Tryforos | Chairman | Executive Board | 2022 | 64 |
| Kenneth S. Booth | President; Director; Chief Executive Officer | Executive Board | 2021 | 55 |
| Jay Martin | Chief Financial Officer | Senior Management | 2024 | - |
| Jonathan L. Lum | Chief Operating Officer | Senior Management | 2019 | 46 |
| Ravi Mohan | Chief Technology Officer | Senior Management | 2022 | 50 |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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