NEW YORK – Citigroup’s auto finance division, comprised of TranSouth Financial Corp., Arcadia Financial Ltd. and Auto One Acceptance Corp., will begin operating under the name CitiFinancial Auto, effective May 12.
Combined, the three groups serve 12,000 dealer clients in 49 states. According to the company, the rebranding is intended to help simplify operations and strengthen brand recognition among customers.
Arcadia and TranSouth were purchased by Citigroup in 2000 and will continue to focus on the nonprime market segment. Auto One was purchased in 2002 and specializes in financing in the prime and nonprime markets.