Axis Auto Finance (TSE:AXIS) has released an update.
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Axis Auto Finance Inc. reported a mixed financial performance for Q3 2024 with total originations at $21.2 million, led by a decrease in automotive loan originations and a decline in equipment finance volumes. The company’s revenues remained stable at $9.7 million compared to the previous year, while they managed to reduce their adjusted loss to $1.4 million from $3.9 million in the same quarter last year. Despite tighter credit and underwriting parameters, Axis continues to navigate the financial technology space for Canadian used vehicle purchases and financing.
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