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Ford Credit Earnings Fall Despite Higher Lease Penetration, Stronger Auction Values

Despite favorable lease residual performance driven by higher auction values, Ford Motor Credit Co. posted lower earnings last year, according to results released yesterday. The captive’s full-year 2018 net income dropped 26% to $2.2 billion. Lease penetration in the fourth quarter climbed 4 percentage points year over year, to 21%. The continued rise in leasing […]

Daimler Mobility Platforms Reach 26 Million Users, Amid Global Expansion

Daimler AG’s mobile platforms have notched 64% growth in users this year. Through September, more than 26 million customers have used Daimler mobile ride-hailing and car rental services like car2go, mytaxi, and moovel, the OEM announced today. Newly released usage numbers coincide with the announcement that the German company will change its name to Daimler […]

Clutch Expands Porsche Subscription Program to Include Hourly, Weekly Rentals                                   

Following its acquisition of fleet-management company Clutch Technologies, Cox Automotive is broadening its program with Porsche to include hourly and weekly rental rates. The expansion provides insights into the philosophy of Cox’s Mobility Solutions unit as OEMs and dealerships embrace subscription programs, President Vince Zappa told Auto Finance News. “When you start to think of […]

Cox Forms Mobility Group, Leverages Subscription Tech Provider

Cox Automotive is on the future of mobility as a service and unveiled Monday morning the development of a new division called Mobility Solutions Group. As consumer demand shifts from the desire of ownership to mobility, Cox Automotive sees the budding segment as a “massive business opportunity, with some estimates at well in excess of $1 […]