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Australian Startup Eyes Foray Into U.S. Market

SAN DIEGO — CarDeals2Me, an Australian startup that provides car buyers with a price quote that expires within 24 hours, is looking to enter the American market — once it secures a lender partner. “We’re grazing around to hit the U.S. market,” said Chief Executive Shaun Sumaru during the Auto Finance Innovation Summit here today. […]

Trump Wants European Autos BMW, Mercedes to Be Made in America

President Trump has given European auto manufacturers a way to avoid an escalation of the trade war, saying they can avoid tariffs on cars if they build more plants in the U.S. “They have BMW, they have Mercedes, they have a lot of very good cars that come in,” he said in an interview with […]

USAA Bank Tees Up Subscription Services at Auto Experience Lab

USAA Bank’s Auto Experience Lab is working to enter the subscription service market, but even after seven years of development, rollout for that service is still “under the queue of projects to complete,” James Spears, assistant vice president at USAA Auto Experience, told Auto Finance News. Much of the work in the lab is dedicated […]

Lease Demand for Tesla Model 3 Beats BMW, Mercedes

Consumers seek leases on Teslas 26% more often than on Mercedes-Benz vehicles and 20% more frequently than on BMWs, Scot Hall, executive vice president of operations at car lease transfer marketplace Swapalease.com, told Auto Finance News. Currently, Tesla offers leasing options on its Model X and Model S variants but not on the lower-priced Model […]

At the Big 4, Incentive Spending Drops, Even as Sales Dip

Old truisms apparently do not apply to auto finance. At least for now. When car sales fall, generally captives counter with greater subvention. But after years of incentives marching higher, incentives are dipping. At the Big Four — Ford, General Motors, Fiat Chrysler Automobiles, and Toyota — the aggregate incentive per unit fell 1.9% to $4,150, […]

Rise of Speculative-Grade Auto ABS Causes Concern, S&P Says

The level of speculative-grade ABS outstandings is six times greater this year than it was in the lead up to the Great Recession in 2006, according to Amy Martin, S&P Global Ratings’ sector lead in U.S. auto ABS. It’s a stat that highlights why “caution is warranted,” in subprime deals today, she said during a […]

FCA Jumps into Subscription Market With Jeep, Mercedes-Benz Reveals Pricing

On the heels of announcing plans to form its own U.S. captive, Fiat Chrysler Automobiles will launch a subscription program called Jeep Wave — a membership program offering drivers the ability to switch between vehicles for a single monthly fee. Making its debut in 2019, Jeep’s program will offer vehicles in “good, better, and best” tiers, […]
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