Auto dealers charged over falsifying finances

The Federal Trade Commission (FTC) has charged a group of four auto dealers operating in Arizona and New Mexico, near the border of the Navajo Nation, with a range of illegal activities. Allegations include falsifying consumers’ income and down payment information on vehicle financing applications and misrepresenting important financial terms in vehicle advertisements. This is the FTC’s first action alleging income falsification by auto dealers.

Auto dealers charged over falsifying finances

Aug 16, 2018

The Federal Trade Commission (FTC) has charged a group of four auto dealers operating in Arizona and New Mexico, near the border of the Navajo Nation, with a range of illegal activities. Allegations include falsifying consumers’ income and down payment information on vehicle financing applications and misrepresenting important financial terms in vehicle advertisements. This is the FTC’s first action alleging income falsification by auto dealers.

Toyota brings car sharing to Hawaii

Toyota has launched a new car-sharing service in Honolulu called Hui, which features a range of Toyota and Lexus vehicles at 25 easily accessible stations throughout the island. Operated by Servco Pacific (Servco), Toyota's distributor in Hawaii, the Hui service utilizes Toyota's proprietary global mobility service platform (MSPF) and a consumer facing app developed by Toyota Connected North America (TCNA), the global technology strategy business unit for Toyota.

Toyota brings car sharing to Hawaii

Aug 16, 2018

Toyota has launched a new car-sharing service in Honolulu called Hui, which features a range of Toyota and Lexus vehicles at 25 easily accessible stations throughout the island. Operated by Servco Pacific (Servco), Toyota's distributor in Hawaii, the Hui service utilizes Toyota's proprietary global mobility service platform (MSPF) and a consumer facing app developed by Toyota Connected North America (TCNA), the global technology strategy business unit for Toyota.

CEO of FCA Bank to speak at the IAFN Conference and Awards in September

Giacomo Carelli, CEO of FCA bank is set to reveal his organisation’s plans to implement advanced solutions to soothing a critical pain point for all retail auto finance providers and their customers. He will explain how FCA Bank is planning to manage the transition from online research to the offline experience in the dealership (bridging the O2O divide). Research conducted by AdTaxi in March 2018 shows that at present 86% of car buyers start their buying journey with online research. Yet even in Germany the country with the highest levels of finance deals completed online – the digital channel still only accounts for 20% of finance transactions. Most customers still end up buying their finance offline in the dealership (73% in US; 63% in the UK and 44% in Germany).

CEO of FCA Bank to speak at the IAFN Conference and Awards in September

Aug 14, 2018

Giacomo Carelli, CEO of FCA bank is set to reveal his organisation’s plans to implement advanced solutions to soothing a critical pain point for all retail auto finance providers and their customers. He will explain how FCA Bank is planning to manage the transition from online research to the offline experience in the dealership (bridging the O2O divide). Research conducted by AdTaxi in March 2018 shows that at present 86% of car buyers start their buying journey with online research. Yet even in Germany the country with the highest levels of finance deals completed online – the digital channel still only accounts for 20% of finance transactions. Most customers still end up buying their finance offline in the dealership (73% in US; 63% in the UK and 44% in Germany).

EMEA

Head of Brand for BMW Mobility to present Keynote speech at IAFN Conference

Aug 06, 2018

In the year when BMW and Daimler announced their intention to merge their mobility services, who better than the Head of Brand for BMW Mobility to provide IAFN’s keynote auto speech? Tony Douglas. Head of Brand, Marketing and Communications. BMW Group Mobility Services will address up to 500 delegates at the International Asset Finance Network Conference in Park Plaza London Riverbank, on September 13. He is expected to provide a comprehensive vision for the future of BMW’s mobility services.

Americas

Joydrive determined to save dealerships

Aug 10, 2018

With the auto market rapidly changing and the role of dealerships under threat, online start-up Joydrive has announced plans to transform the role dealerships will play in the future, saying they risk becoming a “threatened species”. The tech company says Tom Durant of Classic Chevrolet (pictured above), rated the largest Chevrolet dealership in the US for nine out of the last eleven years, has joined Don Fleming of Northwest Motorsport, one of the country’s largest independent pre-owned dealerships, on Joydrive’s dealer advisory board to radically change the way customers interact with and buy cars from dealerships.

Asia Pacific

China leads global new car market demand

Jul 23, 2018

China is leading global demand for new passenger vehicle sales in major markets, ahead of the US and EU, according to the latest data from ACEA, the European Automobile Manufacturers' Association. ACEA’s latest 29-page Economic and Market Report for Q1 shows that Chinese demand increased by 5.6% to almost 6.0 million vehicles, representing 29.5% of global sales.