GM Financial Braces for Off-Lease Vehicle ‘Onslaught’ in 2018, CEO Says

LAS VEGAS — General Motors Financial Co. has sustained double-digit year-over-year loan and lease growth this year, however, depreciating used-vehicle values will create headwinds moving forward, said President and Chief Executive Dan Berce. “Our key goal for GMF is to survive the residual value onslaught as supply is going to keep through until 2019,” Berce […]
  • William Hoffman
  • November 6, 2017
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GM Captive to Finance OEM’s 2018 Self-Driving Manhattan Fleet

LAS VEGAS — General Motors Financial Co. will be the commercial lender for General Motors Co.’s new fleet of autonomous Chevrolet Bolts, which will be introduced onto the streets of Manhattan in early 2018, Auto Finance News has learned. The exclusive news came from the captive’s President and Chief Executive Dan Berce during a fireside […]
  • William Hoffman
  • October 31, 2017
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GM Financial Defies Industry Headwinds in 3Q Earnings

General Motors Financial Co. continues to be the exception to the trends in the industry as the company reported growing originations and lower delinquencies and charge-offs, during its third-quarter earnings report yesterday. Retail loan originations and leases grew 12.7% and 6.5% year over year, respectively. GM Financial originated $4.6 billion worth of retail installment contracts […]
  • William Hoffman
  • October 25, 2017
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GM Stands by Service Contract Penalties to Ensure Quality Dealers

Although General Motors Co.’s network of dealers expressed concern over the penalties in the manufacturer’s new service contract disclosure forms last week at the 2017 Industry Summit, GM feels they are ultimately necessary. Failing to disclose to consumers that they are being sold a service contract that wasn’t approved by GM will soon subject dealers […]
  • Emma Sandler
  • September 26, 2017
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Volvo Offers New 24-Month Subscription Service

To coincide with Volvo Car’s new Volvo XC40, the luxury automaker is also launching its Care by Volvo subscription service. Care by Volvo is a national subscription service with a ready-negotiated monthly fee that allows someone to get a new car every 24 months. While it is unclear what connection Volvo Financial Services will have with […]
  • Emma Sandler
  • September 25, 2017
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Maven Might Expand Dealership Pilot Program

Maven, the mobility unit owned and operated by General Motors Co., may be looking into expanding its dealership pilot program, in addition to recent reports that it is considering a rideshare service. Maven — initially launched as an app-based short-term rental service for General Motors Co. in 2016 — began a pilot program last year with Michigan-based […]
  • Emma Sandler
  • August 22, 2017
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Ally’s Originations Decline, but Expects Stabilization in 2018

  Ally Financial Inc.’s total originations dipped 8.6% in the second quarter, but the lender is expecting some stabilization in early 2018 as the company continues to phase out leases from General Motors Co., according to its second quarter earnings call. Although lease originations rose to $1.1 billion compared with $900 million during the same […]
  • William Hoffman
  • July 27, 2017
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5 Mobility Platforms Advancing the Gig Economy

When Uber began in 2009, the company assumed the position of leading the first wave of mobility services into the gig economy, and in many ways has come to define it. But as the gig economy has evolved, it has expanded into a nebulous entity that has outgrown a simple example. Uber, for instance, has established […]
  • Emma Sandler
  • May 9, 2017
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