Luxury Car Subscription Plans Expansion to Texas, California

Florida-based luxury car subscription service Revolve is planning an expansion to Texas and California in 2019 as well as the introduction of “a few more” lower-priced tiers, Chief Executive Asoka Veeravagu told Auto Finance News. Revolve curates a list of vehicles for which its luxury-car-enthusiast consumer base can subscribe. “South Florida is one of the […]

Tesla Hints at Direct Leasing for Model 3s

Tesla has improved its car production numbers and has signaled that it will soon turn to direct leasing deals to further boost sales, the company noted in its 3Q vehicle production report. The electric car company produced 50% more vehicles — 80,142 —- than it did in the second quarter, which was its previous all-time […]

U.S.-Canada Trade Agreement to Bring Some Relief to Auto Industry

The automotive industry is breathing a sigh of partial relief today as details about a potential trade agreement with Canada trickle out that would exempt U.S. neighbors to the north and south from steep import tariffs. A new U.S.-Mexico-Canada trade agreement exempts the neighboring countries should President Donald Trump impose a 25% tariffs on auto […]
  • William Hoffman
  • October 1, 2018
  • Asia, Risk

Shift Secures $140M in Funding Backed by Lithia Motors

The online car retail and finance platform Shift Technologies secured a $140 million series-D funding round led by Lithia Motors Inc. last week. The funding includes a strategic partnership that will give the startup access to physical locations to scale its business, Toby Russell, co-chief executive of Shift, told AFN. Shift enables consumers to shop […]

Lawyer Cautions Against Overreaction to CFPB Supervisory Guidelines

Following the issuance of new supervisory guidelines, the Consumer Financial Protection Bureau released a statement highlighting that the guidelines do not have the same force as laws — but that doesn’t mean lenders should not heed the warning, lawyers told AFN. The statement emphasized that guidelines do not “have the force and effect of law, […]
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