Asia | Auto Finance News

Daimler Mobility Platforms Reach 26 Million Users, Amid Global Expansion

Daimler AG’s mobile platforms have notched 64% growth in users this year. Through September, more than 26 million customers have used Daimler mobile ride-hailing and car rental services like car2go, mytaxi, and moovel, the OEM announced today. Newly released usage numbers coincide with the announcement that the German company will change its name to Daimler […]

U.S.-Canada Trade Agreement to Bring Some Relief to Auto Industry

The automotive industry is breathing a sigh of partial relief today as details about a potential trade agreement with Canada trickle out that would exempt U.S. neighbors to the north and south from steep import tariffs. A new U.S.-Mexico-Canada trade agreement exempts the neighboring countries should President Donald Trump impose a 25% tariffs on auto […]
  • William Hoffman
  • October 1, 2018
  • Asia, Risk

4 Auto Finance Trends Shaping the Chinese Market

It’s clear that China’s auto finance market is vastly different from the United States, but it’s hard to conceptualize those differences until you’re on the ground facing them head-on. In hosting the Auto Finance Summit Asia earlier this month, the AFN team learned a lot about the industry as it exists in China from difficulties […]

Used Car Dependability on the Decline in China

The reliability of used cars in China is regressing, according to a J.D. Power study released Thursday. The finding underscores the challenges for lenders seeking to increase their penetration into the second-hand market. J.D. Power’s 2018 China Vehicle Dependability Study tracks the number of problems experienced per 100 vehicles (PP100) on 30- to 48-month-old vehicles […]
  • William Hoffman
  • September 21, 2018
  • Asia

China Poised to ‘Leapfrog’ Leasing In Favor of Subscriptions

SHANGHAI — Much in the same way the Chinese economy has bypassed widespread usage of credit cards in favor of mobile payments such as WeChat, there is speculation that Chinese auto lenders could “leapfrog” traditional leasing in favor of subscription models, Sebastian Pfeifle, a partner at Deloitte, said at the Auto Finance Summit Asia. Leasing […]

U.S. Bank Improves Auto Decisioning to Compete in Tight-Margin Business

SHANGHAI — U.S. Bank increased its auto decisioning capabilities and improved efficiencies in its sales team earlier this year to reduce expenses and continue to grow the business, said John Hyatt, executive vice president of dealer services. The comments came as part of a panel discussion at the Auto Finance Summit Asia, in which Hyatt […]

China’s Traffic Congestion is Inflating Demand for Mobility Services

Some urbanites living in dense cities across the United States may be able to ditch their cars and rely wholly on public transit, shared mobility options, and rideshare services. However, most consumers are still very dependent on vehicle ownership. In 2015, car-free households comprised 9.1% of the total U.S. population, whereas, in New York City, […]
  • William Hoffman
  • September 13, 2018
  • Asia

Dongfeng-Nissan Captive President Highlights Opportunities in China

Automakers in China are starting to focus more on customer retention through their captives as sales may be nearing a peak, George Leondis, president of Dongfeng Nissan Auto Finance Co., said during a presentation at the Auto Finance Summit Asia. The industry sold nearly 24 million new vehicles last year in China, and several speakers […]
  • William Hoffman
  • September 11, 2018
  • Asia
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