Toyota Accelerates Ride-Hailing Investments With New Uber Deal

Toyota Motor Corp. is investing $500 million in Uber Technologies Inc. as the OEM continues its efforts to become a true competitor in the autonomous vehicle space, the companies announced on Monday. Uber will combine its autonomous driving system with Toyota’s Guardian technology, which uses sensors to help human drivers avoid accidents, according to a […]

Getaround Poised to Meet Carshare Demand With $300M Investment

Carsharing app Getaround raised $300 million in series D funding today — led by investments from SoftBank and Toyota Motor Corp. — at a time when the sector could get a boost from New York City regulations.  Getaround is the latest to join SoftBank’s contingent of mobility startups it backs, which include Uber, China’s ride-hailing […]

Chinese Loan Platform Files for $100M U.S. IPO

Weidai Ltd., a title lender that provides small businesses with credit backed by auto loans, has filed for an initial public offering to raise $100 million, according to an SEC filing. Weidai is a peer-to-peer lender with an early-stage personal credit system wherein users can borrow from the platform with their automobiles as collateral. The site also […]

Dealers Prioritize Lender Communication, J.D. Power Survey Finds

As interest rates rise, dealer satisfaction with their lender partners is increasingly reliant on quick and meaningful communication with credit staff, according to the 2018 J.D. Power Dealer Financing Satisfaction Survey released this week. “Satisfaction declines by 163 points, on a 1,000-point scale, when dealers are not able to reach the credit staff,” Jim Houston, […]

How Lenders Can Translate U.S. Practices to China’s Marketplace

Many lenders look to China and assume that if the country can achieve financing penetration rates north of 75% as the U.S. market enjoys, then it will quickly become the largest market in the world. But that’s not a realistic model for growth in China, Chas Roscow, an auto finance consultant, told Auto Finance News. […]

Flagship to Add Lenders, Customization Options on CarFinance.com

CarFinance.com is building a platform for its lender partners to “build their own” portals on the website, chief executive Craig Hewitt told Auto Finance News. The new offering from CarFinance.com will allow its lender partners to pick and choose the financial products they offer through the portal, Hewitt said. “We’re designed to be the consumer landing […]
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