Chinese Automaker Mulls Bank Partners for U.S. Debut in 2019

Guangzhou Automobile Group Co. (GAC Motor) aims to be the first Chinese automaker to enter the U.S. market by yearend 2019 and is in talks with U.S. banks for retail financing, Auto Finance News has learned. “At this point in time, we’re looking at different options for retail customer loans, and we will proceed with […]
  • Emma Sandler
  • February 6, 2018
  • 0

Santander Exec Aims to Bolster Growth of Fiat Chrysler Automobiles

Santander Consumer USA (SC) is focused on bolstering its relationship with Fiat Chrysler Automobiles (FCA), following the addition of Rich Morrin as president of Chrysler Capital and auto relationships. The subprime lender continued its executive-level shakeup in early October 2017 with the appointment of a new chief financial officer, a head of operations, and president […]
  • Natalie Mattila
  • January 11, 2018
  • 0

Vehicle Sales Fall for First Time in 7 Years

The sales downturn that lenders have been anticipating for some time has arrived. Manufacturers on Wednesday reported a decline of about 1.8 percent in 2017 new vehicle sales, to 17.2 million cars and light trucks, following a seven-year streak of growth. U.S. auto sales for 2018 are further forecasted to drop to 16.5 million units, according […]
  • Emma Sandler
  • January 4, 2018
  • 0

Kango Partners With Chrysler for Rideshare Leasing

Kango — an app-based, on-demand ride service for kids — has partnered with the Chrysler brand to allow drivers to lease Chrysler Pacifica Hybrid minivans for use in the rideshare. Kango will offer the Chrysler Pacifica Hybrid vehicles in San Francisco beginning this fall. The minivans can only be used for Kango ride services and will be offered […]
  • Emma Sandler
  • August 8, 2017
  • 0

5 OEMs Offer Low-Rate Incentives for Independence Day

With the Fourth of July around the corner, many captives are ramping up finance incentives — including low-rate APR and other special offers — to bolster sales.   Auto Finance News took a look at the current offers in the market. Here are five financing promotions heating up the market: 1. Toyota Motor Corp. Toyota […]
  • Huixin Deng
  • July 3, 2017
  • 1

What a Ride! Four Takeaways from 2016

The year of 2016 was a year of many things. It was a year in which the industry made a bid to marry auto lending and fintech. For example, Chase Auto Finance debuted a digital car-buying service, while Lending Club launched an auto refinance product. It was a year that brought surprising election results, which […]
  • Larissa Padden
  • December 28, 2016
  • 0
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