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New-car prices inch up, EV prices tumble in June

New-vehicle prices climbed 3% year over year, averaging $37,285 in June, according to Kelley Blue Book. KBB analysts attributed the transaction price growth to the persistent demand for trucks and SUVs, pushing both sales and prices in those segments. In fact, light trucks and SUVs are estimated to account for more than 70% of June […]

Volkswagen Financial introduces electric vehicle comparison tool

Volkswagen Financial Services has launched a digital tool for drivers to assess whether electric vehicles meet their mobility needs.  The idea behind the tool, called EV-4-Me?, is to eliminate confusion around what type of driver is suitable for ultra-low emission vehicles. "Ultimately, facts and evidence should drive the right decisions, and where potential myths overcharging […]

Volkswagen debuts car-sharing service with all-electric fleet

Volkswagen has rolled out its take on car-sharing services with the launch of WeShare this week. The service is available in Berlin with a full-electric fleet of 1,500 e-Golf-vehicles hitting the road.  By 2020, the OEM will add 500 of its e-Up! electric vehicles (EVs) and expand the program to Hamburg, Germany, and Prague, the […]

FCA Proposed Merger With Renault Could Lead to Captive Discussions

Fiat Chrysler Automobiles’ merger proposal to Groupe Renault is likely to lead to discussions of creating a captive finance arm to “support the level of volume the new organization could attain,” Zohaib Rahim, manager of economics and industry insights at Cox Automotive, told Auto Finance News. “Last year, [former FCA Chief Executive] Sergio Marchionne mentioned […]

Tesla Plans to Use Model 3 Lease Program to Stock Ride-Hailing Fleet

Tesla has launched a leasing offer for its $35,000 Model 3 electric sedan — without the standard option that allows consumers to purchase their vehicles at the end of the term. “With full autonomy coming in the future via an over-the-air software update, we plan to use those vehicles in the Tesla ride-hailing network," the […]

Tesla Pivots to Online-Only Sales Model

Tesla will be shifting its worldwide sales model to an online-only platform, starting with North America, the company said in a statement last week. The electric OEM will also be closing many of its brick-and-mortar dealerships, leaving “a small number of stores in high-traffic locations remaining as galleries, showcases, and Tesla information centers,” the company […]

Financing Implications Uncertain for Ford, Volkswagen Alliance

The Volkswagen AG and Ford Motor Co. alliance will likely serve as an opportunity for the OEMs’ captives to collaborate on financing, though the timeline remains uncertain as the alliance is very new, analysts told Auto Finance News. An OEM, its captive, and its dealer partners operate in an enterprise fashion, Jeremy Acevedo, Edmund’s manager […]

General Motors Seen Tightening Integration With Captive Amid Leadership Changes

General Motors‘ latest executive management change appears to be part of a push for integration between the OEM and captive finance arm GM Financial, Jeremy Acevedo, Edmunds‘ manager of industry analysis, told Auto Finance News. Chief Executive Mary Barra is taking charge of GM Financial, according to several reports. GM’s President Dan Ammann, who had been overseeing […]
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