Cracking China’s Door: Government Urges Foreign Lenders to Invest in China, Despite Barriers

    Financial institutions bemoan regulation in the United States, but it’s a drop in the bucket compared with lending in the People’s Republic of China. Non-bank financial companies — and their equity investors — have to be approved by the China Banking Regulatory Commission. Companies cannot expand branches without regulatory approval nor can they […]

Toyota’s $1B Investment in Grab to Boost Financial Services in Asia

Toyota Motor Corp. late Tuesday announced a $1 billion investment in Grab Holdings Inc. — the largest investment ever from an OEM into a ride-hailing startup — in part to collaborate on driving-data-based automotive insurance and financial services, according to a press release. Grab operates transportation platforms, food and package delivery, and financial services in […]

Vehicle Sales Fall for First Time in 7 Years

The sales downturn that lenders have been anticipating for some time has arrived. Manufacturers on Wednesday reported a decline of about 1.8 percent in 2017 new vehicle sales, to 17.2 million cars and light trucks, following a seven-year streak of growth. U.S. auto sales for 2018 are further forecasted to drop to 16.5 million units, according […]

Toyota Establishes New Mobility Service Unit

Toyota Motor Corp. will merge its subsidiary Toyota Fleet Leasing Co. Ltd. with its second-tier subsidiary Toyota Tokyo Rental & Leasing Co. Ltd. to establish a new company — Toyota Mobility Service Co. Ltd. — on April 1, 2018, the company announced yesterday. Specific initiatives of Toyota Mobility Service Co. include collaborating with Toyota’s in-house […]

Toyota Promotes 2 Executives in Risk, Treasury

Toyota Motor Co. announced Friday that Scott Cooke and Cindy Wang have been promoted to new positions within Toyota Financial Services, effective Jan. 1. Cooke was named group vice president and chief risk officer while Wang takes the title of group vice president of treasury. Since joining Toyota in 2003, Scott has held a number […]

10 VC Firms Investing in the Mobility of the Future

Behind every startup funding round there’s an eager venture capital firm waiting for its investment to mature. By some accounts, the mobility industry will be worth $3 trillion dollars across the various connected, shared, autonomous vehicle space as it continues to evolve and grow. With that in mind, Auto Finance News rounded up the top […]
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