All Posts | Auto Finance News - Part 5

Daimler Trucks starts AV testing on US highways

Daimler Trucks, in partnership with autonomous vehicle and robotics fintech Torc Robotics will be developing and testing autonomous trucks with SAE level 4 technology on public roads following months of testing and safety validation on a closed loop track, the company announced. At level 4 autonomy, the system, called “Asimov,” performs the entire driving task, […]

Exeter taps tech provider to improve operational performance

Exeter Finance will leverage a new partnership with software provider Nextworld to spur development of web-based digital applications, according to a company press release. Irving, Texas-based Exeter last week signed a five-year contract with NuVerge – a software and tech firm – to use Nextworld’s technology. NuVerge is Nextworld’s formal reseller. The nonprime financier will […]

Aclaró releases EcoSystem 3.0, adds new board member

Aclaró, which provides disruptive technologies to the automotive, financial and government sectors, has released Aclaró EcoSystem 3.0 (ES 3.0), a game-changing toolset for vehicle purchasers, lenders and dealers, and added a new member to its board. With these announcements, the artificial intelligence software company continues the rapid advancement toward its overarching mission of helping lenders, […]

Citizens One ramps up CPO program

Citizens One Auto Finance has been revving up used-vehicle loan originations since launching its CPO program “a little over a year ago,” President Craig Lamp told Auto Finance News. Volume for the bank’s CPO program has “more than doubled,” Lamp said, adding that the program has exceeded company expectations. To that end, “a big chunk […]

Investors funnel $31m into UK-based startup 

London-based used-car marketplace Cazoo has scored $31 million in pre-launch funding led by existing investors, propping up the startup’s total funding to $68 million.  The company strives to become the “equivalent to Carvana” for the U.K. used-car market, which is valued at $60 billion with 8 million used cars sold annually, the company noted in […]

Used-vehicle value index hits record high

The Manheim used-vehicle value index for the month of August rose to 141.3, a year-over-year increase of 1.2% and a record high. The index was propped up by lower-than-normal depreciation. Prices for 3-year-old vehicles declined in aggregate 0.5%, under the expected average of 1%. As a result, August reflected a “much stronger” used-retail market compared […]

Auto Finance News announces capital markets survey for lenders

Auto Finance News is pleased to share a short survey on auto finance funding and capital market operations.  Lenders can participate in the survey here. The survey delves into allocation of resources, along with funding trends and challenges. It takes about three minutes to complete, and responses will remain anonymous. We encourage lenders of every […]

Honda breaks sales record

American Honda posted the “best month of sales in company history” in August and set four different records, according to a release from parent Honda Motor Co. Between the Honda and Acura brands, the company sold 173,993 units, a 17.6% year-over-year increase, which “smashes all-time monthly sales records for total vehicles and trucks,” the release […]
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