Lease Demand for Tesla Model 3 Beats BMW, Mercedes

Consumers seek leases on Teslas 26% more often than on Mercedes-Benz vehicles and 20% more frequently than on BMWs, Scot Hall, executive vice president of operations at car lease transfer marketplace Swapalease.com, told Auto Finance News. Currently, Tesla offers leasing options on its Model X and Model S variants but not on the lower-priced Model […]

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 […]

Rise of Speculative-Grade Auto ABS Causes Concern, S&P Says

The level of speculative-grade ABS outstandings is six times greater this year than it was in the lead up to the Great Recession in 2006, according to Amy Martin, S&P Global Ratings’ sector lead in U.S. auto ABS. It’s a stat that highlights why “caution is warranted,” in subprime deals today, she said during a […]

NMAC to Offer Subscription Service if Demand Persists, President Says

Nissan Motor Acceptance Corp. has plans in the works to offer consumers a subscription service if that’s where the market continues to shift, company President Kevin Cullum told Auto Finance News. The captive is looking into several options to support the market demands toward the subscription space. Although he said the subscription model is more […]

Cracking China’s Door: Government Urges Foreign Lenders to Invest in China, Despite Barriers

    Financial institutions bemoan regulation in the United States, but it’s a drop in the bucket compared with lending in the People’s Republic of China. Non-bank financial companies — and their equity investors — have to be approved by the China Banking Regulatory Commission. Companies cannot expand branches without regulatory approval nor can they […]

BMW, Ford, and GM Join 37 Companies to Form Blockchain Consortium

Four auto manufacturers have teamed up with technology companies to form a new consortium dedicated to exploring the use of blockchain technology in mobility ecosystems that could make transportation safer, more affordable, and more widely accessible, the companies jointly announced Wednesday. BMW, Ford, General Motors, and Groupe Renault joined in with 37 other companies — among them, […]

BMW and Daimler Merge Mobility Services Divisions

BMW Group and Daimler AG will merge their respective mobility service divisions into a 50/50 joint venture, while still maintaining competition within their core businesses, the companies announced in a joint statement today. The venture is a “clear sign” that the mobility market is “maturing,” Grayson Brulte, a consultant and co-founder of Brulte & Company, told Auto Finance News. […]