Toyota Captive Seeks Penetration Growth in Slowing Chinese Market

Toyota Motor Finance China (TMFCN) aims to grow originations to 22% of Toyota and Lexus vehicles sold in China, Auto Finance News has learned. That compares with a 21% penetration rate — or 273,000 vehicles — in 2017. Though China has been the largest new-car sales market since 2009, its finance rate is only about […]
  • Emma Sandler
  • March 7, 2018
  • 0

Peer-to-Peer Carshare Launches With Focus on Luxury

Ryde Inc., a new peer-to-peer carsharing startup, launched its service last week with an emphasis on luxury vehicles, to distinguish itself among a growing mobility marketplace, Founder and Chief Executive Thanura Yapa told Auto Finance News. Luxury car owners can register their vehicles into Ryde’s fleet for others to pick up and rent. In the next […]
  • Emma Sandler
  • January 17, 2018
  • 0

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 […]
  • Emma Sandler
  • January 4, 2018
  • 0

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 […]
  • Emma Sandler
  • December 22, 2017
  • 2

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 […]
  • William Hoffman
  • December 11, 2017
  • 0

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 […]
  • Emma Sandler
  • October 2, 2017
  • 0
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