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 […]
  • William Hoffman
  • June 21, 2018
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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’ […]
  • Emma Sandler
  • April 27, 2018
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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. […]
  • Emma Sandler
  • March 28, 2018
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Mercedes-Benz Bank to Launch Subscription Service

The financial arm of Mercedes-Benz said today that it will soon launch a subscription service called “Mercedes me Flexperience.” Mercedes said the pilot program will be launched through its Mercedes-Benz Bank in Europe “in the next few weeks.” In January, reports surfaced that Mercedes-Benz was planning to pilot a car subscription service this year. Mercedes me […]
  • William Hoffman
  • March 8, 2018
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Daimler Financial Grew Portfolio 6% in 2017 Amid Mobility Push

Daimler Financial Services grew its portfolio 6% year over year to $174.6 billion USD (139.9 billion Euro) in 2017, amid the company’s strong push into mobility services, according to the company’s fourth-quarter earnings released today. The captive originated 1.9 million new financing and leasing contracts in 2017, a 14% year-over-year increase from the year prior. […]
  • Emma Sandler
  • February 1, 2018
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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 […]
  • Emma Sandler
  • December 22, 2017
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