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Newest Member of the NYSE-Santander Consumer USA Holdings Inc

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Santander Consumer USA Holdings Inc (NYSE:SC), the U.S. auto lending unit of the Spanish bank Grupo Santander priced its IPO at $24 a share and raised $1.8 billion in the initial offering. Shares are expected to begin trading today on the NYSE. More than 74 million shares were issued. The auto lending unit has close to 14,000 partnerships with dealerships around the U.S. In 2012, the company generated net income of $715 million. I’m bullish on Santander Consumer as U.S. auto sales in 2013 experienced the best year since 2007. According to Reuters, auto sales in 2013 were up 50 percent compared to four years ago.