Asia

VTB Bank starts an online auto marketplace in Russia

Consumers can book a car from ILSA and apply online for a loan, then need to come to a VTB branch.

06 February 2020

"The new service may save some costs, decreasing the bank’s physical presence at dealerships, albeit we expect no significant impact in the short term," BCS GM commented, seeing the news as neutral for VTB.

Didi Chuxing has become a perfect example of China's mobility efforts

Didi has received intense investment, expanded internationally, and competes with every rival.

05 February 2020

Auto Editor

No Comments

Didi, once it secured the Chinese market, has started another chapter of its venture by expanding into foreign markets with important investments in Australia, Taiwan, Brazil, Chile and Colombia, with a particular focus on Latin American countries.

Galadari Automobiles partners with Emirates NBD to provide vehicle finance services

Galadari Auto is Mazda's exclusive distributor in the UAE.

05 February 2020

Auto Editor

No Comments

A two-day sales event to promote the new service at Galadari Automobiles - Mazda Showroom on Sheikh Zayed Road is witnessing bigger customer engagement and footfall than last year.

Carsome is attempting to change the Southeast Asia market

CEO Eric Cheng discussed the company and its plans for the future.

04 February 2020

Auto Editor

No Comments

“We are trying to solve the problem that both the used car dealers and retail mom-and-pops face; reliant on brokers to buy/sell a used car, resulting in a considerable discrepancy between buying and selling price,” said Eric Cheng, Co-Founder and Chief Executive Officer of Carsome.

Carmudi's parent company raises $70 million in funding

CarDekho earlier raised money amounting to $110 million through series C funding.

03 February 2020

Auto Editor

No Comments

CarDekho acquired the car advertising platform last month, establishing its second operations in Southeast Asia. It has over 4,000 new auto dealerships and 3,000 used car dealers in India.

OTO Capital is an Indian startup to promote two-wheeler vehicle leasing

One of the significant reasons for the recent slowdown of the automotive industry is believed to be caused by challenges in financing vehicle purchases.

03 February 2020

Auto Editor

No Comments

India is expected to see a similar turnaround where customers value access over ownership and alternative financing models become a more viable and preferred choice, especially among the young buyers.

Grab asks to add taxis and public transit in a ride-hailing market review

Grab hopes to avoid regulations against its ride-hailing business.

31 January 2020

Auto Editor

No Comments

Marikina Rep. Stella Quimbo recently said Grab would continue to monopolize the ride-hailing market if transport authorities do not allow the entry of motorcycle taxi operators.

MNC Group prepared to purchase Anterin, a local ride-hailing platform

The investment amount has not been made public.

31 January 2020

Auto Editor

No Comments

The acquisition of Anterin by MNC is parallel with IATA’s strategy to enter the on-demand transportation business, where Grab and Gojek remain the leaders in Southeast Asia.

AutoX, a Chinese self-driving company, recently finished Pre-B funding round

This round of financing will mainly be used for launching operations in the Chinese market.

30 January 2020

Jobs Editor

No Comments

At this year’s CES in Las Vegas, AutoX announced its official cooperation with the European automobile giant FCA and launched RoboTaxi, China’s first self-driving taxi that can be truly unmanned.

Zoomcar raises $30 million from Sony

The company aims to raise another $70 million during this funding round.

30 January 2020

Michael Hunt

No Comments

Zoomcar intends to use these new funds to help grow and improve its technology, data infrastructure, and updating the Internet of Things portion of its auto subscription platform.