China Plans to Lift Ownership Restrictions for Carmakers

China announced the phaseout of a two-decades-old policy that requires foreign manufacturers share their factory ownership and profits with Chinese companies, the government announced Tuesday. However, financial arms still remain beholden to the joint venture rules. The National Development and Reform Commission announced that ownership caps will be dropped for companies making fully electric and […]
  • William Hoffman
  • April 17, 2018
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Senate Bill Targets CFPB Rule Curbing Racial Bias at Dealerships

Although the Consumer Financial Protection Bureau’s 2013 bulletin on dealer markup is deemed “offensive” by many in the industry, a Senate bill introduced last month to eliminate it is “not going to change much,” said John Redding, partner at Buckley Sandler LLP. Sen. Jerry Moran (R-KS) quietly introduced the bill, which seeks to eliminate CFPB […]
  • William Hoffman
  • April 17, 2018
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American LandMaster Focuses on Dealers Following Leadership Change

UTV manufacturer American LandMaster has been focusing more attention on building dealer partners following a change in leadership, Trent Marsh, marketing analyst for the company, told Powersports Finance. “We’ve just recently, over the last year, kind of refocused on the dealer base again,” Marsh said. “We’ve had a change in leadership, a change in focus, so previous regimes […]
  • Matthew Wood
  • April 17, 2018
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CFPB Interest Rate Markup Rule Headed for Vote of Disapproval in Senate [EXCLUSIVE]

A Senate vote to dismantle the Consumer Financial Protection Bureau’s 2013 bulletin governing interest rate caps on indirect auto transactions could be up for a committee vote as early as this week, the office of the bill’s lead sponsor told Auto Finance News. Jerry Moran (R-KS) introduced the bill (S.J.Res.57) in March and late last […]
  • William Hoffman
  • April 16, 2018
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Lexus, Mercedes-Benz, BMW Detail New Subscription Programs

BMW, Mercedes-Benz, and Lexus all announced or launched subscription programs this month underscoring the growing financial trend of more flexible all-inclusive pricing. While some details still remain sparse, all three seem to be focused on higher-end luxury consumers. For example, Toyota Financial Services is launching the Lexus program in conjunction with the release of the […]
  • William Hoffman
  • April 16, 2018
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White-Label Tech Provider Onboards 2 Lenders to Retail Platform

Motoinsight, developer of the MotoCommerce digital car-buying platform, is in the “implementation phase” with a captive and a bank. Cloud-based MotoCommerce allows lenders to offer consumers a paperless finance experience. “If you’re a lender, you have a tremendous portfolio of customers that you already have an existing relationship with,” said Andrew Tai, Motoinsight’s chief executive […]
  • Matthew Wood
  • April 16, 2018
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