General Motors Co. | Auto Finance News | Page 3 | Auto Finance News - Part 3

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 […]

Dealers Push Back on GM Service Contract Disclosure Forms

DALLAS — Dealers are reeling from General Motors Co.’s new disclosure requirement for vendor service contracts, according to panelists at the 2017 Industry Summit last week. In early August, GM sent a letter to its franchise dealers requiring F&I offices to disclose to consumers when they are being sold a service contract that is not […]

GM Financial Grows Dealer Base 17% in Latest ABS

The size of General Motors Financial Co.‘s dealer base continues to expand, but its 18% dealer penetration rate remains lower than GMF’s peers, according to a presale report by Moody’s Investor Service. “This can indicate lower dealer quality of the portfolio relative to other issuers,” Moody’s said in the report. “However, as the number of […]

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 […]

GM’s Maven Could Position Itself to Become Full-Fledged Rideshare

Maven, the mobility unit owned and operated by General Motors Co., is reportedly considering building out the platform to include on-demand ridesharing in the style of Uber or Lyft. With the possibility of adding an on-demand rideshare element to Maven, the platform would consist of a full spectrum of mobility options including hourly and weekly rentals, […]

GM’s Cruise Debuts Autonomous Ride-Hailing [VIDEO]

Cruise, the self-driving startup owned by General Motors Co., just launched an autonomous ride-hailing startup for its employees in San Francisco. In a new video, Cruise employees are seen ordering a ride from an app whereupon a driverless car pulls out of a garage to pick up the passengers. The cars are modified Chevrolet Bolt […]

GM Financial Preps for Lease Slowdown Amid Declining Values

General Motors Financial Co.’s lease penetration is on a “downward trajectory” as depreciating used-vehicle prices pressure residual values, the company said during its second-quarter earnings call. “We’re probably at the top end of where we want to be from a leasing perspective,” Charles Stevens, executive vice president and chief financial officer for General Motors Co., […]

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 […]
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