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Thinning margins spur Ford Credit downgrade

Ford Motor Co.'s weakened credit profile will likely have negative implications for its access to funding and financing volumes after a downgrade by Moody’s Investors Service this week. The downgrade moved Ford’s rating to non-investment speculative-grade status.  Moody’s said an upgrade for Ford is “unlikely in the near term,” as margins are expected to remain […]

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 […]

Volkswagen debuts car-sharing service with all-electric fleet

Volkswagen has rolled out its take on car-sharing services with the launch of WeShare this week. The service is available in Berlin with a full-electric fleet of 1,500 e-Golf-vehicles hitting the road.  By 2020, the OEM will add 500 of its e-Up! electric vehicles (EVs) and expand the program to Hamburg, Germany, and Prague, the […]

FCA Proposed Merger With Renault Could Lead to Captive Discussions

Fiat Chrysler Automobiles’ merger proposal to Groupe Renault is likely to lead to discussions of creating a captive finance arm to “support the level of volume the new organization could attain,” Zohaib Rahim, manager of economics and industry insights at Cox Automotive, told Auto Finance News. “Last year, [former FCA Chief Executive] Sergio Marchionne mentioned […]

Financing Implications Uncertain for Ford, Volkswagen Alliance

The Volkswagen AG and Ford Motor Co. alliance will likely serve as an opportunity for the OEMs’ captives to collaborate on financing, though the timeline remains uncertain as the alliance is very new, analysts told Auto Finance News. An OEM, its captive, and its dealer partners operate in an enterprise fashion, Jeremy Acevedo, Edmund’s manager […]