OEMs Blur Lines of Self-Driving Rideshare Ownership

Ford Motor Co. and Lyft — which is partially owned by General Motors Co. — have formed a new partnership to work together on self-driving vehicles the companies announced today, further blurring the lines of autonomous vehicle ownership between OEMs. The partnership involves a deployment of human-driven vehicles from Ford on Lyft’s network for testing, followed […]
  • Emma Sandler
  • September 27, 2017

Carma in Talks with 5 OEMs for Car Subscription Service

Carma is currently “in talks” with about five manufacturers to form partnerships for its car subscription service, Auto Finance News has learned. The Detroit-based startup — which is currently involved in Detroit’s Techstars Mobility accelerator program — already works non-exclusively with Ford Motor Co. and American Honda Motor Corp. as they are mentors to the Techstars […]
  • Emma Sandler
  • August 7, 2017

Ford Smart Mobility Reports ‘Small Loss’ in 1Q, CFO Says

Ford Motor Co. saw a pre-tax accumulative loss of $212 million for its “all other” category — which includes Ford Smart Mobility LLC — in the first quarter, according to the company’s earnings call yesterday. The loss is a net interest expense on the OEM’s automotive debt related to investments in emerging opportunities, Robert Shanks, Ford’s executive […]
  • Natalie Mattila
  • April 28, 2017

Ford Backs Startup Autonomic, Pursues Investments in Mobility Services

Ford Motor Co. invested in startup autonomous software company Autonomic, just one month after investing $1 billion in Argo AI. But artificial intelligence and autonomous software are not the only investment interests for the automaker. Ford will “aggressively pursue” opportunities in the mobility-as-a-service marketplace, Alan Hall, Ford’s communications manager for mobility technology, autonomous vehicles, research and innovation, said. […]
  • Natalie Mattila
  • March 16, 2017

AutoGravity Expands to 46 States, Partners with Captives

The California-based digital car buying company AutoGravity announced today that it’s now available in 46 states across the country. There are at least four lending partners available in each state where the platform is offered, the company told Auto Finance News. “You can expect multiple captive lenders and we’ll be making announcements about them over […]
  • William Hoffman
  • January 25, 2017

Collaborate to Innovate Mobility, Expert Says

Cross-pollination between tech companies and auto manufacturers is no longer optional, it’s a “necessary,” Michael Macauley, chief executive of Quadrant Information Services, cautioned. “As cars become devices that we drive or don’t drive, and devices become more integrated with our transportation experience across modes,” the two industries need to learn to work together rather than […]
  • Auto Finance News
  • December 9, 2016

Driverless Cars Put Insurers on a Complex New Road

In August, Ford Motor Co. announced plans to produce fully autonomous cars by 2021. These vehicles will be manufactured in high-volume production and will be tailored for ride-hailing and ride-sharing operations, which means they will not have steering wheels, brake pedals, or other controls for human occupants.
  • Quadrant Information Services
  • September 28, 2016

Ford Credit CEO Set to Retire, Falotico Named as Successor

Ford Motor Credit Co. promoted Chief Operating Officer Joy Falotico to group vice president, chairman, and chief executive, the company announced yesterday. She will replace Bernard Silverstone, who has elected to retire — effective Oct. 1 — after 37 years with the company. Falotico joined the captive in 1989, and most recently served as COO for […]
  • Natalie Mattila
  • August 31, 2016

Video & Report: Latest Global Asset & Auto Finance Research [SPONSORED]

The outlook for the auto and asset finance industry looks cautiously positive, with innovation the key to unlocking new potential. At White Clarke Group, we have been tracking the fortunes of the global asset and auto finance market in our regular surveys for four years now, and as our latest report makes clear, a lot […]
  • White Clarke Group
  • July 19, 2016