Volvo Financial Services is still an “untapped potential” for Volvo Group and is key to deepening the relationship with customers, Chief Executive Martin Lundstedt said in the OEM’s third-quarter earn...
Used-car leasing app Fair launched last month, which the founders are calling an “iTunes account for your car” offering an all-in-one monthly payment model. And just a few weeks ago, the startup released a demo video showcasing its innovative business model. In short, Fair is buying used cars from dealerships and charging consumers to drive that vehicle […]
Porsche Cars North America Inc. debuted Porsche Passport, a new sports car and SUV month-to-month subscription program, adding to a growing list of luxury automakers entering the subscription space. The new program allows subscribers to frequently exchange vehicles or keep them for as long as they like. The service includes unlimited mileage and on-demand access to […]
Autotech Ventures, a venture capital firm that primarily invests in startups, will announce several investments in ground transportation companies within the next few months, Quin Garcia, managing director of the VC, told Auto Finance News. “We are actively looking at several companies across the ground transportation spectrum, but unfortunately cannot go into specifics beyond that,” […]
Groupe PSA has re-entered North America after 26 years with the launch of its Free2Move technology brand in Seattle today. Launched in 2016, Free2Move is a smartphone-based mobility aggregation platform which unites all of PSA Group’s new mobility solutions, including carsharing, fleet sharing and fleet management, connected services, and car leasing. PSA Group, which is […]
Uber Technologies Inc.’s Xchange Leasing program may not be out of the game yet, Auto Finance News has learned. After months of losing money — and weeks of speculation — Uber announced yesterday that it was beginning to wind down its subprime leasing program in the U.S. market. But the rideshare company is still pursuing buyers, a company spokesman […]