Will Ride-Hailing Replace Personally-Owned Cars? Execs Weigh In

LAS VEGAS —  The disruptive impact that ride-hailing companies are having on auto finance is evident with the success of Uber and Lyft. While both companies are not profitable, Uber ‘s revenue surged 43% to $11.3 billion in 2018 and Lyft’s revenue doubled to $2.2 billion. However, the question confronting auto finance is whether ride-hailing […]
  • Bianca Chan
  • March 11, 2019
  • 0

Buckling Up for the Evolution of Car Ownership

The digital revolution has triggered a number of major changes for the auto industry over the course of the past two decades.  We are now seeing cars at the center of a new wave of technology — autonomous vehicles, artificial intelligence, machine learning, miniaturized sensors, 3D printing, new fuel sources and engineering, robotic manufacturing processes, […]
  • Anthony Rodio
  • November 2, 2018
  • 0

HyreCar CEO Talks Going Public, Seeks Partnership With Rideshare Giant Lyft

Newly public startup HyreCar is looking to capitalize on the eightfold growth of the ride-hailing industry, which Goldman Sachs pegs at $285 billion by 2030. Since its inception in 2014, HyreCar has focused on “filling a clear gap” in the ridesharing industry, Chief Executive Joe Furnari told Auto Finance News. As a peer-to-peer carsharing marketplace, […]
  • Nicole Casperson
  • October 24, 2018
  • 0

Former Tesla Exec Maps Strategies for New Venture With Startup Fair

Shared services are gaining momentum, as the opportunity for mobility outweighs consumers’ desire for ownership, Diarmuid O’Connell, chief strategy officer for subscription service Fair, told Auto Finance News. Formerly vice president of business development for Tesla Inc., O’Connell was one of the company’s longest-serving executives before his departure in October 2017. He was instrumental in […]
  • Nicole Casperson
  • August 20, 2018
  • 0

Digital Services ‘Open the Floodgates’ for Disruption, Divido Exec Says [VIDEO]

As on-demand streaming services like Netflix and Spotify transform the expectations of digital consumers, auto lenders will need to “respond quickly” when it comes to funding requirements, Christer Holloman, chief executive and co-founder of Divido, told attendees at the International Auto Finance Network conference in London. “Consumers want things straightaway, they have little brand loyalty, […]
  • Natalie Mattila
  • September 8, 2017
  • 0

Lenders Seek Balance When Investing in Innovation

It’s no secret that being first to market when investing in innovation can offer a competitive edge, but lenders must be prepared for the complications that come with investing in unproven technology. However, those that don’t lead the charge, risk being too late to the punch — so where is the balance? The real risk […]
  • Natalie Mattila
  • July 27, 2016
  • 0

Finance and Mobility Are Converging in Wonderful Ways

Like so many elements in auto finance, true drivers of economic growth are difficult to discern. Think back to the credit crisis, when it took a beat or two for the White House to realize that the demise of GMAC and Chrysler Financial meant the demise of the auto industry. They fixed that problem quick […]
  • JJ Hornblass
  • May 16, 2016
  • 0

How Auto Finance Responds to Disruption

Auto manufactures have been harnessing tech innovations to transform the industry landscape into a connected, ridesharing, driverless, and smartphone-dominated industry. In that same vein, what does this mean for auto finance? “There is an incredible amount of acceleration in the [auto finance] space, and this is when you see legacy companies partner with new companies,” […]
  • Diana Asatryan
  • March 11, 2016
  • 1