Agora Data files patent application for industry-leading innovations

ARLINGTON, Texas | March 21, 2022 09:03 AM Eastern Daylight Time

Agora Data, inventor of many subprime auto industry firsts, has filed a U.S. patent application with the United States Patent and Trademark Office (USPTO) for a proprietary data-driven business model that may be leveraged to predict the future performance of subprime consumer loans. Applying certainty to loan payment outcomes of a previously unreliable market segment helps to reassure capital markets of results, empowers auto dealers and finance companies with access to new funding channels, and promotes fair lending practices. Agora Data’s innovation is unique for the auto industry, resulting in a win-win-win solution for financial institutions, loan originators, and consumers.

Daniel Burke, Chief Information and Strategy Officer, and Chad Stilwell, Chief Technology Officer at Agora Data, are the architects of this first-ever business modeling for the subprime market segment. Their new-to-the-aut…

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Stellantis, LG Energy to open $4.1 billion EV battery plant in Canada in 2024

Stellantis and joint venture partner LG Energy Solution Ltd., with backing from three levels of government, committed Wednesday to spending $4.1 billion to build Canada’s first large-scale EV battery plant in Windsor, Ont.

The sprawling facility, expected to begin operations in 2024, will have capacity to produce 45 gigawatt hours (GWh) of lithium-ion battery cells and modules to supply the Chrysler, Dodge, Jeep and Ram parent firm’s auto assembly operations in Ontario and elsewhere in North America.

Stellantis CEO Carlos Tavares said the investment, which is the largest in the history of Ontario’s auto sector, will help position Canada as a leader in North American EV battery production. It will also orient the company toward its EV targets, he added.

“Our joint venture with LG Energy Solution is yet another stepping stone to achieving our aggressive electrification roadmap in the region aimed at hitting 50 percent of battery electric vehicle sales in…

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ProGuard Warranty enhances protection coverage to help dealers attract new customers during inventory shortage

AVOCA, Pa., March 15, 2022 /PRNewswire/ -- ProGuard Warranty announced enhancements to their existing vehicle protection plans to help auto dealers adapt to current inventory shortages. These changes were developed to address the lack of new, rental and off-lease vehicles entering the market, a situation that has increased acquisition costs at the auction houses. Feeling the pinch, many dealers are being put in the position of either making a sale or making a profit. With products sold exclusively through dealers, ProGuard felt compelled to find alternative solutions to help dealers compete in today's market.    

"Last year we began working on ideas to address the lack of inventory and other major concerns facing independent and franchise dealers today," said Dominic Limongelli, President and COO. "There are still no new vehicles, used cars are hard to source and once secured, fly off the lot. Our dealers who have inventory are doing incredibly well but…

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Polly wins 2022 AWA award in the F&I category

BURLINGTON, Vt., March 21, 2022 /PRNewswire/ -- Polly (formerly known as DealerPolicy), the leading insurance marketplace for automotive retail, was named a winner of the 2022 AWA Award in the F&I category by Brian Pasch, author and industry leader in automotive marketing strategies, online dealer education, marketing analytics, and digital retailing.    

The AWAs were created in 2008 to recognize the best vendors in automotive digital marketing. Since then, the AWAs have become a benchmark in the automotive industry for recognizing innovative products in digital retailing, marketing automation, sales process, dealer websites, digital marketing, fixed operations, F&I, training, website merchandising, conversational commerce, business intelligence tools, video technology, OTT, and reputation management.

Brian is honored to recognize the efforts of many deserving companies who stand out in their areas of expertise. Polly's ability to integr…

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Former GM exec Dan Ammann joins ExxonMobil

Dan Ammann, the former General Motors president who abruptly left his post as CEO of Cruise in December, has been named president of ExxonMobil Low Carbon Solutions.

Ammann will replace Joe Blommaert, who is retiring after 35 years with the company. Ammann's appointment is effective May 1, according to a company statement.

Ammann, 49, had been CEO of self-driving vehicle company Cruise since 2019. GM now owns 80 percent of Cruise.

Ammann was president of GM from 2014 to 2018 and the automaker's CFO from 2011 to 2014 after more than a decade as a Wall Street banker.

He said in a LinkedIn post Tuesday that he will lead the building of new business at ExxonMobil focused on the decarbonization of the industrial economy.

"We'll be significantly moving the needle toward net zero in the most hard-to-decarbonize industries, in an economically viable way, and with urgency," he wrote. "To do this we'll draw on the deep resources and know-how that exi…

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Chevy Corvette production idled this week

Chevrolet Corvette production is down this week because of a parts shortage.

General Motors cut the first and second shifts at the Corvette plant in Bowling Green, Ky., for the temporary parts constraint, spokesman Trevor Thompkins told Automotive News.

"Our supply chain, manufacturing and engineering teams are working closely with suppliers to mitigate further impacts on production," he said.

Output is expected to resume Monday.

GM declined to say which component was in short supply, but spokesman Dan Flores confirmed that the downtime was not due to a shortage of semiconductor chips. No other GM plants are taking parts-related downtime this week, he said.

Chevy sold 33,041 Corvettes last year, a 53 percent boost over 2020.

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How the pandemic has adjusted our sense of normal

As soon as I arrived on the exhibit hall floor at this year's NADA Show, I looked up and down the rows of vendors' booths and saw people filling the aisles, shaking hands and standing alongside vendors to watch product demos.

It was the same calendar day that the coronavirus had been declared a pandemic two years earlier, and it struck me that the last time we all gathered for NADA, in February 2020, no one had any idea that we were just weeks away from a massive disruption.

That thought was followed immediately by another: This feels normal.

Over the last two years, I've learned that "normal" is not a constant. The pandemic has profoundly altered our lives, and we're still learning how to live with it. That theme resonated with me throughout my exploration of the show floor. The technology capabilities that vendors displayed this year build on the industrywide digital acceleration that began when dealerships needed to sell vehicles online after stay-at-…

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Chinese companies lead Nvidia partnerships with top AV, EV makers

Some of China's leading electric vehicle makers and self-driving tech companies are now working with computing supplier Nvidia to develop their next-generation products.

Nvidia unveiled a series of new partnerships Tuesday at its annual technology conference, known commonly as GTC, none bigger than work with Chinese EV maker BYD, which already has more than 780,000 vehicles in operation.

BYD, which includes U.S. billionaire Warren Buffett among its major investors, said it will build its next-generation fleets on Nvidia's Drive Hyperion architecture and sensor suite for self-driving systems. The company will build future EVs with the eighth iteration of Hyperion starting in 2023, enhancing both driving and parking functionality.

Collectively, Nvidia said it now has $11 billion in auto tech contracts signed for production over the next six years.

"It's the right technology at the right time," said Danny Shapiro, Nvidia's vice president of automotiv…

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GM recalls 740,600 GMC Terrain crossovers; Ford recalls 196,000 F-150 pickups, SUVs

WASHINGTON — General Motors is recalling nearly 740,600 U.S. vehicles for bright headlight reflections that may cause glare or be distracting to other drivers, increasing the risk of a crash.

The recall covers certain 2010-17 GMC Terrain compact crossovers and comes after NHTSA this month denied a GM request that would have allowed the Detroit automaker to avoid fixing the issue.

GM petitioned NHTSA in 2019 after determining those vehicles do not fully comply with Federal Motor Vehicle Safety Standard 108, which regulates automotive lighting, signaling and reflective devices.

GM argued the noncompliance has no effect on vehicle safety for oncoming or surrounding vehicles or for drivers of the Terrains.

The automaker told NHTSA it was aware of one customer inquiry within the U.S. and Canada related to this condition but was not aware of any crashes or injuries.

In its response to GM, NHTSA said "certain weather conditions such as snow and f…

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2023 Subaru Solterra: Branching out with green shoots

PHOENIX — Subaru's partnership with Toyota Motor Corp. that launched a couple of nifty sports cars, the Subaru BRZ and Toyota 86, is going in a new direction that is more suited for the all-wheel-drive specialist.

Their latest joint project, a pair of full-electric crossovers developed over the last four to five years, is well timed as 2022 is on pace to be a breakout year for electric vehicles of all stripes.

The 2023 Solterra, Subaru's first EV, is a Latin portmanteau for sun (sol) and earth (terra).

While Subaru is launching the Solterra, Toyota, which owns 20 percent of its smaller Japanese rival, is introducing the similar bZ4X electric crossover.

Engineering and design of the Solterra and bZ4X was handed equally between the two companies, though the crossovers are being assembled at a Toyota plant in Japan.

Like most everything Subaru, the Solterra will only be sold with awd. The bZ4X is available with front-wheel drive and awd.

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Ford moves top HR exec into new Ford Blue role, makes other leadership hires

Ford Motor Co., seeking to fill the leadership team of its newly created Ford Blue division, said Kiersten Robinson, its top human resources executive, would become general manager of Ford Blue's family vehicles as well as president of Ford's operations in Mexico and Canada.

Robinson will report to Kumar Galhotra, president of Ford Blue, and the move will formally take effect in mid-May, the automaker said Monday.

"Kiersten is a transformational leader who has been instrumental in supporting Ford's business and global team for nearly three decades through innovative people, talent, employee safety and workplace experience solutions," CEO Jim Farley said in a statement. "Now she's taking on a critical global operating role within Ford Blue as president of Mexico and Canada, as well as leading our Family Vehicles product line that includes the popular Ford Explorer, Expedition and Everest."

Robinson joined the company in 1995 and has held a number of role…

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