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Investors funnel $31m into UK-based startup 

London-based used-car marketplace Cazoo has scored $31 million in pre-launch funding led by existing investors, propping up the startup’s total funding to $68 million.  The company strives to become the “equivalent to Carvana” for the U.K. used-car market, which is valued at $60 billion with 8 million used cars sold annually, the company noted in […]

VW Financial and Daimler Mobility launch UK used-car platform

Volkswagen Financial Services and Daimler Mobility have expanded online used-car marketplace Heycar into the U.K., bringing an inventory of more than 100,000 vehicles across 1,400 dealerships. The U.K. used-car market is valued at $60 billion, and financing is valued at $21.2 billion, according to Heycar.   Heycar’s platform, which launched nearly two years ago in Berlin, partners with […]

Volkswagen Financial introduces electric vehicle comparison tool

Volkswagen Financial Services has launched a digital tool for drivers to assess whether electric vehicles meet their mobility needs.  The idea behind the tool, called EV-4-Me?, is to eliminate confusion around what type of driver is suitable for ultra-low emission vehicles. "Ultimately, facts and evidence should drive the right decisions, and where potential myths overcharging […]

VW Financial Services Grows Portfolio in First Half of 2018

Volkswagen Financial Services increased outstandings by 4.7%, in addition to seeing growth in originations, the company reported in its half-year earnings report. The total number of contracts in the lender’s portfolio totaled 6.2 million compared with 5.9 million the same period the year prior. The leasing portfolio likewise saw growth, climbing 11.5% to 4.2 million […]

Earnings Roundup: Ally, Daimler, VW See Growth in 1Q

Ally, Daimler AG, and Volkswagen AG all saw originations climb in the first quarter, in addition to an increased focus on financing in China for Daimler and VW. Ally Financial Ally originated $9.5 billion in the quarter, a 7% year over year increase and took in record-high used volume of $4.8 billion, which reflects the banks’ […]