General Motors Co. | Auto Finance News | Page 6 | Auto Finance News - Part 6

How Trump’s Border Tax Could Affect Auto Lenders

President Donald Trump continues to mull over the idea of a border tax — which if passed would place a new tax on nearly all imported goods, including cars — and the resulting vehicle price increases could push financing options to their limit, said Alan Baum, founder of West Bloomfield, Michigan-based Baum & Associates. The […]

GM to Funnel Off-Lease Volume Into Rideshare Program

General Motors Co. will use record-high lease returns as extra supply for its rideshare leasing partnership with Lyft — called Express Drive — said Peter Kosak, executive director of urban mobility programs at GM. “Where we’re growing our lease business, [mobility] is a growing opportunity for us because we have vehicles coming back off lease […]

GM Offers One-Week Lease Vehicles For Uber Drivers

Consumers in the San Francisco area will be able to drive for Uber Technologies Inc. by leasing a General Motors vehicle for as little time as a week, through a new partnership announced Tuesday in a joint press release from the popular rideshare service and the car maker’s mobility services program, Maven. “This is the latest […]

CapOne to Provide Floorplan Revolvers in Tennessee

Capital One announced today that it will provide floorplan revolvers totaling $14 million to two Honda dealerships located in Tennessee, both owned by the Hudson Automotive Group. The lender also provided a $2.6 million term loan to Hudson Automotive Group’s holding company, Hudson ET Holdings, according to a CapOne press release. The transaction with Hudson is the […]

Mercedes-Benz R&D Scoops Up Rideshare FlightCar

FlightCar, a rideshare startup that allowed people parking at the airport to rent their vehicles to approved traveling members, abruptly shut down services on Thursday, after its technology platform was acquired by Mercedes-Benz Research & Development North America. “Our technology will now be a part of the Business Innovation division at MBRDNA, the innovation lab […]
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