Buick launches sales of flagship Century MPV

The Buick Century went on sale in China last week as General Motors seeks to expand its presence in the market for premium large multi-purpose vehicles.

The Century is the second large MPV GM is producing at its passenger-vehicle joint venture with SAIC Motor Corp., following the Buick GL8. 

It is equipped with GM’s Ecotec 2.0T turbocharged gasoline engine, a nine-speed Hydra-Matic transmission and 48-volt mild-hybrid system.

The Century is 5,230 mm long, 1,980 mm wide, 1,867 mm tall, with a wheelbase of 3,130 mm. It is similar in size to the GL8, but will slot above the GL8 in price and content.

It features advance connectivity features such as a virtual cockpit system running on a 30-inch display, a 32-inch sliding screen in the partition wall with an integrated camera system and a high-resolution color head-up display.  

The Century's starting price is 529,900 yuan ($73,090) while the GL8 is 232,900 yuan.

The GL8 has rem…

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With production about to start, Fisker prioritizes deliveries over complete software suite

GRAZ, Austria — Fisker Inc. is poised to begin production next week as promised a year ago, although some features, including those that are common on many competing vehicles, may not be ready until 2024.

Early next year, the company plans to add lane-keep assistance, blind-spot monitoring and automatic high beams to its launch edition Fisker Ocean One. By late 2023, it expects to add lane centering and traffic-jam assist. Its Power Bank package for vehicle-to-home and vehicle-to-vehicle charging should roll out over the next two years, according to materials provided to journalists.

CEO Henrik Fisker said his priority is getting vehicles with unique features made and shipped to a growing backlog of customers, especially since over-the-air updates allow for less-critical features to be added later. He has stressed the need for rapid development of models so they can employ the latest technologies, rather than the much-longer processes that automakers have hist…

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Judge approves $80 million Porsche U.S. class action settlement

WASHINGTON - A U.S. judge on Wednesday granted final approval to a class-action settlement worth at least $80 million to resolve claims Volkswagen Group and its Porsche unit skewed emissions and fuel economy data on 500,000 Porsche vehicles in the United States.

The settlement, first reported by Reuters in June, covers 2005 through 2020 model year Porsches. Owners accused the automaker of physically altering test vehicles that affected emissions and fuel economy results.

U.S. District Judge Charles Breyer also approved $24.5 million in attorneys' fees and costs.

Owners of eligible vehicles will receive payments of $250 to $1,109 per vehicle.

Porsche said on Wednesday that it has "been working to develop a solution and to ensure customers are appropriately compensated."

"We are committed to providing our customers with transparent fuel economy and emissions data, and the agreement ensures that customers are fairly reimbursed for any fuel eco…

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Rivian demand remains strong, CEO says after $1.7B Q3 net loss

Demand remains strong for Rivian Automotive Inc.'s R1T pickup and R1S SUV, CEO RJ Scaringe said after the automaker posted a $1.7  billion third-quarter net loss and pushed back the launch of a smaller R2 platform to 2026.

"We continue to see strong demand for our product," Scaringe said on the company's earnings call Wednesday.

Rivian said it had preorders for 114,000 vehicles on its current R1 platform, up from 98,000 that it reported at the end of the second quarter. Those preorders are separate from an Amazon order for delivery vans.

The EV startup recently started a second shift at its Normal, Ill., factory to meet demand for its vehicles, but continues to struggle with supply-chain issues, executives said.

"The second shift is now up and running," Scaringe said. "We're going through the ramp now and it's going well."

The expansion of production comes just over a year after Rivian launched the R1T into the market.

Rivian C…

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DAILY DRIVE PODCAST: November 9, 2022

Tesla CEO Elon Musk unloads almost 20 million shares after buying Twitter. Nissan profits soar on better pricing. Lucid posts a net loss of $670 million in Q3. Plus, the CEO of insurance tech company Humn.ai talks about how mapping risk through a vehicle’s journey can help address insurance issues for fleets.

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Editorial: Ford dealers are right to balk at EV requirements

Legacy automakers and their dealer networks face some serious decisions as electric vehicles grow in popularity and internal combustion vehicles lose some of their luster under tightening emission regulations.

But few of those decisions are as fundamental as this: Will automakers work with dealers to make the transition to EVs a reality, or will they view the transition as an opportunity to pressure their "trusted business partners?"

This is the struggle playing out right now across Ford Motor Co.'s U.S. dealer network as the automaker implements an Orwellian "Model e" playbook that would treat all dealers equally — as it must under existing franchise laws — while effectively making some more equal than others.

That is wrongheaded, and state dealer associations as well as Ford dealers are right to pressure the automaker to amend some aspects of its strategy.

Ford's requirement that its dealers invest up to $1.2 million in their businesses to pre…

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Dealer Jimmy Ellis dies at 67

Georgia dealer Jimmy Ellis, CEO of Jim Ellis Automotive Group, died Saturday at a hospital in Roswell, Ga.

He was 67. No cause of death was shared.

All Jim Ellis Automotive locations in metro Atlanta closed Wednesday for funeral services, a black banner atop the company's website read.

Ellis, born Aug. 26, 1955, became CEO of the family business in 2015 after serving as vice president and COO for 18 years.

Loren Roberts, associate director of marketing for Jim Ellis Automotive Advertising Agency, who has worked for the company nine years, described Ellis as a visionary leader.

"His passion and drive instilled confidence and motivation in those that worked for him," Roberts told Automotive News. "But above that, he was a man that cared deeply about his employees and family and took every opportunity to make sure people felt valued and appreciated."

Ellis' parents, Jim and Billie Ellis, poured their life savings into their first dealer…

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Germany blocks Chinese stake in 2 chipmakers over security concerns

BERLIN -- The German government on Wednesday blocked prospective Chinese investment in two domestic semiconductor producers after the moves raised concerns over national security and the flow of sensitive technological know-how to Beijing.

The government said it had vetoed the takeover of the chip factory of the Dortmund-based company Elmos by Silex, a Swedish company that is a subsidiary of Chinese group Sai Microelectronics.

Berlin also blocked investment in ERS Electronic, which is based in Bavaria, government sources told Reuters.

A spokesperson for ERS Electronic said there were no plans to sell the company but it had been exploring the option of getting investment from a Chinese private equity firm.

The decisions came at a time of heightened sensitivity around relations between Berlin and Beijing.

The government of Chancellor Olaf Scholz, who visited China last week, is trying to balance a push for access to the Chinese market for Eur…

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Tesla changes insurance incentive to spur sales

SHANGHAI -- Tesla Inc. said it raised insurance incentives for EV orders in China placed before Nov. 30, but reduced them for orders made next month, a move to urge consumers to place orders earlier.

The U.S. automaker previously offered an insurance incentive of 7,000 yuan ($970) for orders between Oct. 1 and Dec. 30. But on Tuesday Tesla said the incentive for November was raised to 8,000 yuan and reduced for December orders to 4,000 yuan.

"As long as you like it enough, pick up Tesla immediately!" Tesla said in its official Weibo account when announcing the policy change.

The insurance incentive is a cash rebate offered to buyers to buy insurance from Tesla's partner insurers.

Tesla delivered 71,704 China-made electric vehicles in October, down 14 percent from a record high in September, according to the China Passenger Car Association last week.

Tesla also slashed starter prices in China on the Model 3 and Model Y and closed what had be…

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BYD plans new premium EV brand

SHANGHAI -- BYD said on Tuesday it would launch a new premium brand in the first quarter of 2023 under the name Yangwang, with the first model slated to be an off-road vehicle.

Vehicles produced under the new brand will be priced at between 800,000 and 1.5 million yuan, BYD added.

BYD, which ditched gasoline vehicles from its product mix this year, has been able to capitalize on a range of incentives for electric vehicles offered by the Chinese central government and local governments.

The automaker, which produces both pure electric and plug-in hybrid cars, has topped electric vehicle sales in the world's biggest auto market, with sales more than tripling in the first 10 months of this year to 1.4 million, company filings show.

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Sunflower Bank launches partnership with On the Road Lending to provide affordable loans for reliable cars in rural Texas communities

DALLAS -- (BUSINESS WIRE) -- Sunflower Bank is proud to announce its partnership with On the Road Lending, a nonprofit auto lender that provides character-based affordable loans for reliable cars. The $525,000 investment with an additional $25,000 designated for operating support will enable On the Road Lending to bring its services to rural communities where there are often no public transportation options.

Through a listening session held together in May 2022, both On the Road Lending and Sunflower Bank identified the importance of addressing the significant transportation needs gap that exists in rural Texas.

“A car loan through On the Road Lending is life-changing because owning a reliable car increases job opportunities by removing transportation barriers,” said Lonnie Smith, On the Road Lending’s president. “It also improves quality of life through better access to health care, education, and even healthier food choices. Ultimately On the Road Lending fue…

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Auto Financial Group signs integration agreement with MeridianLink

HOUSTON, Nov. 1, 2022 /PRNewswire/ -- Auto Financial Group (AFG), announced today that it has signed an integration agreement with MeridianLink, Inc.® (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies. This partnership further reinforces AFG's mission to pursue innovative solutions that help our clients streamline their workflows.    

With this integration, AFG's Balloon Lending Program will be even easier to implement for financial institutions using MeridianLink's loan origination system (LOS). The loan origination process will be more efficient, and users will not need to toggle between two platforms, increasing productivity and minimizing errors. Information will be updated automatically between both systems, keeping all loan documentation in sync and up to date.

"With this integration, financial institutions using MeridianLink will be able to originate AFG loans seamlessl…

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