General Motors to Shut Down Cadillac Subscription Service by Yearend

General Motors Co. is reportedly hitting the pause button on its vehicle-subscription service, Book by Cadillac after launching nearly two years ago in Los Angeles, Dallas, and New York. A GM spokesman confirmed the OEM plans to shut down the service by yearend, the Wall Street Journal reported. However, there is still a chance that […]

Auto Finance Feels the Pressure of Fed’s Rate Hikes

Major automakers are reporting declines for U.S. sales as signs of tightening credit conditions are adding pressure to financing options for consumers.  Ford, Toyota, Nissan, and Honda all reported sales declines in September of 11.2%, 10.4%, 12.2%, and 7%, respectively. Though Hyundai sales rose 0.6%, sibling brand Kia was down 1.8%, according to sales reports. […]

NMAC to Offer Subscription Service if Demand Persists, President Says

Nissan Motor Acceptance Corp. has plans in the works to offer consumers a subscription service if that’s where the market continues to shift, company President Kevin Cullum told Auto Finance News. The captive is looking into several options to support the market demands toward the subscription space. Although he said the subscription model is more […]

OEMs May Feel Pressure to Follow Ford’s Sedan Phase-Out

DALLAS — Ford Motor Co. is eliminating all but its Mustang brand of new sedans because of faltering consumer demand and impending fuel efficiency regulations, and residual value analysts predict other OEMs could be pressured to follow suit. “Everyone can see the trend that customers are currently buying SUVs,” Eric Ibara, director of residual value […]

Earnings Roundup: Ford, GM, CapOne Achieve Growth in 1Q

Ford Motor Credit Co., GM Financial, and Capital One Auto Finance all grew their portfolios in the first quarter despite a mixed environment for originations, delinquencies, and charge-offs. Ford Motor Credit Ford Motor Credit originated 93,000 loans in the first quarter down from 98,000 the same period the year prior. Despite that, the company grew […]

Ford Launches Online Car-Buying Platform With Plans to Include AutoFi Finance Options

Ford Motor Co. has debuted its Ready.Shop.Go. online car-shopping platform, which will eventually include customizable purchase and lease options powered by AutoFi, the OEM announced today. The digital platform allows customers to search inventory, view pricing and incentives, lock in a deal for 48 hours (subject to vehicle availability), apply for financing, estimate trade-in values, and […]
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