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General Motors Scales Back Car-Sharing Service Maven

General Motors Co. reportedly is scaling back its car-sharing service, Maven, by stopping the service in eight markets after launching more than three years ago. A GM spokeswoman confirmed the OEM plans to shut down the service in major markets like Chicago and Boston "within the next few months," the Wall Street Journal reported. However, Maven will […]

Leasing’s New Look: Financiers Give Lease Options a Makeover

From the February issue: With new-car purchases lagging and used-values increasing, captives and OEMs are reimagining lease products to keep their customer bases growing. Roughly a decade ago, 1.4 million new vehicles were leased — a 16% penetration rate. Fast forward to 2019, and lease volume is expected to reach 4.1 million, with penetration as […]

General Motors to Shut Down Cadillac Subscription Service by Yearend

General Motors Co. is reportedly hitting the pause button on its vehicle-subscription service, Book by Cadillac after launching nearly two years ago in Los Angeles, Dallas, and New York. A GM spokesman confirmed the OEM plans to shut down the service by yearend, the Wall Street Journal reported. However, there is still a chance that […]

Auto Finance Feels the Pressure of Fed’s Rate Hikes

Major automakers are reporting declines for U.S. sales as signs of tightening credit conditions are adding pressure to financing options for consumers.  Ford, Toyota, Nissan, and Honda all reported sales declines in September of 11.2%, 10.4%, 12.2%, and 7%, respectively. Though Hyundai sales rose 0.6%, sibling brand Kia was down 1.8%, according to sales reports. […]

NMAC to Offer Subscription Service if Demand Persists, President Says

Nissan Motor Acceptance Corp. has plans in the works to offer consumers a subscription service if that’s where the market continues to shift, company President Kevin Cullum told Auto Finance News. The captive is looking into several options to support the market demands toward the subscription space. Although he said the subscription model is more […]

What Hyundai and Startup Carma Learned About Car Subscriptions

Car subscriptions have been one of the hottest auto trends of 2018 so far. Less than 100 days into the year, BMW, Mercedes-Benz, Toyota Motor’s Lexus brand, and a host of startups have all launched services or said they intend to. The subscription trend began in January 2017 when Cadillac piloted Book by Cadillac in New […]

Hyundai Capital Adds Business-Focused Mobility Services

Hyundai Capital, the financing arm of Hyundai Motor Group, has added a car-sharing service in South Korea to its growing portfolio of mobility offerings. The new service, called “Deal Car” or “Delivery Car” started a beta program in early September with a goal of pursuing “shared growth” with small and medium-sized business, the company said in […]

An F&I Revolution is Coming [SPONSORED]

Can you remember the last time you walked into a fast food restaurant and they filled your drink order? It was a short few years ago when the restaurants started handing you a cup and you dispensed the ice and your drink of choice.  The shift happened as consumers demanded a better, quicker experience.  Now, […]
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