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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, […]

Sparking Connections: How Tech Alliances Are Firing Up Lenders

Slowing vehicle sales and the potential for a market downturn have lit a spark among lenders, technology companies, and OEMs, igniting partnerships aimed at gaining marketshare and creating solutions attainable only by way of collaboration. In January, Ford Motor Co. and Volkswagen AG established an alliance that will likely spur the OEMs’ captives to collaborate […]

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 […]

Hurricane Florence Impact on Auto Finance Uncertain, OEMs Suspend Operations

Hurricane Florence’s inevitable impact on the auto industry is still uncertain as the storm makes it way through the east coast, but early estimates predict North Carolina could lose 20,000 to 40,000 cars if the storm maintains its current path, said Jonathan Smoke, chief economist for Cox Automotive. Economist and analysts are basing their forecasts […]

Daimler Financial to Change Name in 2019 Reflecting Mobility Ambitions

Daimler AG, the parent company of Mercedes-Benz is restructuring its financial services unit in order to better accommodate the rise of mobility services, the company announced in a press release. Daimler Financial Services AG will be renamed Daimler Mobility AG in the first half of 2019 and its 13,000 employees will be tasked with managing […]

Earnings Roundup: Ally, Daimler, VW See Growth in 1Q

Ally, Daimler AG, and Volkswagen AG all saw originations climb in the first quarter, in addition to an increased focus on financing in China for Daimler and VW. Ally Financial Ally originated $9.5 billion in the quarter, a 7% year over year increase and took in record-high used volume of $4.8 billion, which reflects the banks’ […]

Peer-to-Peer Carshare Launches With Focus on Luxury

Ryde Inc., a new peer-to-peer carsharing startup, launched its service last week with an emphasis on luxury vehicles, to distinguish itself among a growing mobility marketplace, Founder and Chief Executive Thanura Yapa told Auto Finance News. Luxury car owners can register their vehicles into Ryde’s fleet for others to pick up and rent. In the next […]

AI in Auto Finance Overtakes List of 2017’s Most-Read Mobility Stories

It seems 2017 officially reached the mobility tipping point, where autonomous vehicles, car subscriptions, and mobility services have continually gained momentum. Artificial intelligence got its fair share of interest from the auto finance industry, as many lenders looked to machine learning to bolster credit decisioning, among other use-cases. Meanwhile, Daimler Financial Services and RCI Bank […]
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