Jun 21, 2018: Carvana in the US is the latest company to introduce a new concept in car sales - multi-story vending machines. It now has 11 vending machines in Houston, Austin, San Antonio, Dallas, Nashville, Raleigh, Charlotte, Jacksonville, Tampa, Orlando and...
 
Jun 06, 2018: The CEO of Fiat Chrysler Automobiles, Sergio Marchionne, announced recently that the company struggled to grow in the US because it didn’t have a captive finance house, sparking a debate about the role of in-house finance in the automotive sector. ...
 
Jun 06, 2018: Mercedes-Benz has launched a major new car subscription programme in the US offering packages from just $1,095 a month. There are three tiers in the Mercedes-Benz Collection service - Signature, Reserve and Premier - with the highest priced packag...
 
Jun 04, 2018: Fiat Chrysler Automobiles (FCA) is planning to launch a new captive finance arm in the US, the company’s CEO Sergio Marchionne has told investors. FCA currently has an agreement with Santander Consumer USA to fund retail and wholesale purchases of...
 
May 23, 2018: BMW Group Financial Services in the US has launched a new program to partner with entrepreneurs, start-ups and small businesses in fintech to develop innovative mobility solutions and products. The BMW Financial Services Collaboration Lab 2018 wil...
 
May 09, 2018: The outgoing president of auto finance at Ally Financial says the business is in a strong position to navigate future change, including the impact of digitalisation, as he hands over to a new management team. Tim Russi, who recently announced he w...
 
May 02, 2018: Captive finance providers accounted for most of the increase in US auto loans last year, according to new research from CU Direct and AutoCount. Its analysis indicates that Toyota Financial Services achieved the second largest market share of loan...
 
May 02, 2018: The total balance of outstanding auto loans in the US reached $1.1 trillion at the end of last year. Data from Experian shows loan balances grew year-on-year just over 5%, or $57 billion, with banks now accounting for 33% of the market, while auto...
 
Feb 08, 2018: US vehicle sourcing and funding app Fair has acquired the vehicle rental and delivery app Skurt in the latest stage of its rapid growth plans. The investment comes after Fair announced the closing of its latest round of strategic equity funding, w...
 
Nov 22, 2017: Santander has agreed to pay Thomas Dundon, the former head of its US sub-prime auto lending business, Santander Consumer USA, more than $700m in an exit deal which has taken over two years to agree. Dundon, who founded the company in 1995, left th...