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How Daimler-BMW’s $1.1B Mobility Venture May Affect Finance Operations

Despite Daimler AG and BMW Group’s $1.1 billion investment in a mobility and ride-hailing joint venture, the companies’ captives will continue to operate as competitors. “The core business with vehicles will remain unaffected, and the competition in the premium market will be maintained,” Daimler Financial Services spokesman James Ryan told Auto Finance News. “This also […]

HyreCar Exec Eyes Rideshare Opportunities Beyond ‘Just Moving People’

HyreCar’s new director of strategic partnerships is thinking about moving products, not just people, with its peer-to-peer carsharing service. HyreCar connects car owners with idle vehicles to rideshare drivers in need of cars. “There’s going to be a lot more growth in food delivery, in medical pharmaceutical delivery, recreational drug delivery, and packages that is […]

HyreCar Pursues Partnerships With Fleet Owners

HyreCar hopes to fix its inventory imbalance by redirecting its focus to large fleet owners from individual car owners, newly appointed Senior Director of Strategic Partnerships Brian Allan told Auto Finance News. Hyrecar is a peer-to-peer carsharing service that lets car owners rent their idle vehicles to rideshare drivers. There is still room for peer-to-peer, […]

HyreCar Seeks More Dealer Partners Amid Inventory Imbalance

HyreCar, which announced earlier this month that it was expanding its service nationally, is facing a car inventory shortage, Chief Executive Joe Furnari told Auto Finance News. The car-share company added 32,000 drivers to its platform last month. Furnari said. However, he said, HyreCar has only about 720 cars available. There’s a “tremendous imbalance of drivers […]

For Toyota Pilot Programs, Focus Moves to Utilization From Ownership [VIDEO]

Toyota Finance Services has deployed several pilots in ridesharing and car rental services. The company gave specific insight into the findings from two of these pilots at this year’s Auto Finance Summit. “A variety of scenarios are going to coexist in the future, it’s between personally owned and shared, and autonomous vehicles and driver-driven,” Sabreen […]