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 […]
  • Nicole Casperson
  • September 13, 2018
  • Risk

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 […]

Daimler Mobility Services Acquires French Uber Competitor

Daimler Mobility Services — which is under the operation of Daimler Financial Services — acquired a majority stake in Chauffeur Privé, a private-hire vehicle service in France, yesterday. Daimler Mobility Services now controls more than 50%, with the intention to fully acquire Chauffeur Privé by 2019, the company said in an announcement. Financial details were […]

Mercedes-Benz Financial to Construct New Fort Worth Operations Center

Mercedes-Benz Financial Services announced plans to construct a new national business operations center in Fort Worth, Texas, not far from its current location. Construction on the 200,000-square-foot facility is slated to begin in early 2018 in the business park of AllianceTexas. The building is scheduled to open in early 2019 and will retain 900 direct […]

Daimler Financial Services Launches Startup Incubator

Daimler Financial Services debuted a startup incubator at the 2017 Web Summit in Lisbon, Portugal, earlier this month, called Startup Intelligence Center (SIC). The incubator will focus on mobility, finance, and insurance services, according to a company statement. Entrepreneurs are able to pitch to the SIC, whereupon a jury of Daimler employees — from various areas of […]
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