Mobility and rideshare were at the top of the agenda during the 2016 New York Automotive Forum on Tuesday. Since technological developments around rideshare have already began transforming the auto industry, how will that affect the auto finance space?
Car financing does fit into the rideshare model, Colin Langan, auto analyst at UBS, said during a panel entitled “Wall Street’s Take on Mobility.” “Ford has this experiment, where if you are a Ford customer you can actually share your lease with others, and I think one reason they are doing this, is to become a part of the sharing,” he said.
Ford Motor Credit Co. launched the Ford Credit Link lease-sharing pilot in Austin, Texas, in mid-January — where customers can share the ownership of a single lease. The lease-sharing pilot “may also just be a way to mitigate the monthly payments [of customers], but I think if you are a large automaker, in the long-term, you could become a part of the rideshare by making lease-sharing work,” Langan added.Like This Post