Porsche 911 inspired by ‘Cars’ to be auctioned

Porsche has collaborated with Pixar Animation Studios to develop a one-off Porsche 911 inspired by the Sally Carrera character from the animated flick Cars.

The 911 Sally Special is based on the 473-hp 911 Carrera GTS. The manual-drive car features a custom Sally Blue Metallic color.

The Turbo-inspired wheels are redesigned by Style Porsche designers, with their five-spoke design receiving a subtle modification to match the 20/21-inch diameter of current-generation wheels on the 911.

The vehicle will be auctioned by RM Sotheby's on Aug. 20 during Monterey Car Week. Proceeds will support young girls through Girls Inc. and USA for UNHCR, the UN Refugee Agency.

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NHTSA opens probe into 1.7 million Ford, Lincoln vehicles for alleged front brake defect

WASHINGTON — U.S. auto safety regulators have opened a safety probe into more than 1.7 million Ford Fusion and Lincoln MKZ midsize sedans after reports alleging front brake hose failures.

NHTSA's Office of Defects Investigation said it had received 50 complaints alleging such failures on Fusion and MKZ vehicles from the 2013-18 model years and was aware of one crash allegedly related to the issue.

Many of the complaints claim "the brake hoses are rupturing, leaking brake fluid and occurring with little to no warning," according to a report released Friday.

Front brake hose ruptures and leaking brake fluid can result in increased stopping distances, the agency said.

Ford Motor Co. did not immediately respond to a request for comment.

In August 2020, Ford recalled more than 488,000 2015-18 Ford Edge and 2016-18 Lincoln MKX vehicles because the front brake hoses on the midsize crossovers may rupture prematurely…

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EV maker Rivian’s net loss widens

Electric-vehicle maker Rivian Automotive Inc reported that revenue was $364 million in the second quarter while the EV maker's net loss widened to $1.71 billion, from $580 million a year earlier.

The company said a ramp-up in production helped it deliver more SUVs, pickup trucks and vans.

The company has in recent months started overcoming the supply chain issues and semiconductor shortages that have curtailed its ability to meet soaring demand for electric vehicles.

Rivian reiterated its annual production forecast of 25,000 units and said it expects to add a second shift for vehicle assembly at its Normal, Illinois plant towards the end of the third quarter.

In the second quarter ended June 30, the EV maker delivered 4,467 vehicles, up from 1,227 units in the previous three months.

The company said it has received about 98,000 pre-orders for its R1S SUV and R1T pickup truck.

The revenue of $364 m…

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GM’s RICO lawsuit against Fiat Chrysler rejected by appeals court

A U.S. appeals court upheld a 2020 ruling that tossed out a racketeering lawsuit General Motors filed against rival Fiat Chrysler Automobiles, now part of Stellantis, and former executives.

GM filed the racketeering lawsuit in November 2019, alleging FCA bribed UAW union officials over many years to corrupt the bargaining process and gain advantages, costing GM billions of dollars.

"Even accepting GM’s theory as true, the chain of causation between FCA’s bribes and GM’s injury is still too attenuated," said the opinion of the three-judge panel of the U.S. 6th Circuit Court of Appeals.

This is a developing story and will be updated.

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CULA and Affinity Federal Credit Union partner to offer leasing program

San Diego, CA, and Basking Ridge, NJ – August 2, 2022 – Credit Union Leasing of America (CULA) announced today that it has partnered with Affinity Federal Credit Union (“Affinity”), one of the nation’s largest credit unions, to bring the affordability and flexibility of leasing to Affinity’s New Jersey members and local dealerships, with plans to expand the indirect leasing program to New York and Pennsylvania.Affinity provides comprehensive services and solutions, including auto purchase and leasing support and loan options, for its members in New Jersey, New York and Connecticut. Affinity ranks in the top 2% of all credit unions in the U.S.(1), and has more than 20 branches across the tri-state region. CULA, which experienced record growth in the last two years, with 2022 expected to surpass 2021, has been the leader in indirect vehicle leasing for credit unions for over 30 years.

“Affinity’s mission is to support our members' financial well-being and to work closel…

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Understanding the Gen Z Car Shopper

There are a lot of assumptions about Generation Z. Those born between 1997 and 2012 are generally thought to be hyper-online and at the leading edge of consumption trends.

But when it comes to buying a car, Gen Z is much different than the stereotypes portrayed on social networks. In a recent survey, CDK Global asked over 1,100 people of all ages, including Gen Z shoppers 18–25, about the car-buying experience. The results found that Gen Z can be more thoughtful, spending more time weighing decisions, but they also found the car-buying process more difficult than any other age group and were least likely to recommend their dealership experience.

81% of Gen Z shoppers want to take their time to understand all of their options when purchasing a vehicle Gen Z wants more expert guidance from sales representatives than any other generation This group is also least likely to recommend their dealership experience to a friend Gen Z was more frustrated by added fees than any ot…
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Income verification platform Truework raises $50M Series C

SAN FRANCISCO, Aug. 9, 2022 /PRNewswire/ -- Truework, a fintech company that provides income and employment verification for the nation's largest mortgage, auto, and consumer lenders to approve more borrowers in a fraction of the time, today announced it raised $50 million in Series C funding.Leading the Series C round was G Squared, with returning investors Sequoia Capital, Activant Capital, and Khosla Ventures also participating. New investors include Indeed, Human Capital, and Four Rivers Group. The completion of this round will support planned product development, additional hiring, and foster the company's continued growth as an efficient, secure, and user-friendly platform for income and employment verification.

By digitizing and simplifying the income and employment verification process for banks, lenders, payroll providers, and HR departments, Truework streamlines the lending process for both lender and borrower. With consumer consent as a foundation, Truework…

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Scott Painter’s Autonomy startup orders 23,000 EVs, partners with AutoNation

Subscription startup Autonomy announced that it placed orders Tuesday for 23,000 electric vehicles from various automakers for its fledgling subscription platform. Autonomy, founded by serial entrepreneur Scott Painter, also said it is partnering with dealership giant AutoNation Inc. to obtain the vehicles and have them serviced.

The orders are for 45 models from 17 automakers and are valued at $1.2 billion, Autonomy said in a release. The company plans to take delivery of all 23,000 vehicles within 18 months, Painter told Automotive News.

Autonomy's business model is to provide subscribers an EV for a flat monthly fee. The company is a rebrand of Painter's 2020 venture, NextCar, which was a back-end software-as-a-service platform marketed toward vehicle subscription providers.

Upon its launch in January, Autonomy had only the Tesla Model 3 available for subscribers. The company later added the Tesla Model Y as an option. The new orders and the partnersh…

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DAILY DRIVE PODCAST: August 10, 2022

A look at how much the CHIPS Act might alleviate the semiconductor shortage, if at all. Honda focuses on deliveries as profits fall. Elon Musk offloads almost $7 billion worth of Tesla stock. Shift Technologies plans to merge with CarLotz. Plus, a conversation about EV registration numbers from the first half of the year.

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Canada’s Unifor union elects Lana Payne president

Lana Payne has been elected as the new national president of Unifor, taking over the role five months after longtime leader Jerry Dias abruptly retired as head of Canada’s largest private sector union.

About 1,000 Unifor delegates, voting on behalf of locals across Canada, cast ballots at the union’s constitutional convention in Toronto Wednesday.

Payne, 56, becomes Unifor’s second president and first woman president. She defeated Scott Doherty, executive assistant to Unifor’s national president and Dave Cassidy, president of Local 444, were also in the running.

The initial vote between the three candidates left no candidate with 50 percent. However, Cassidy was eliminated and the union held a runoff. Payne won with 61 percent in the runoff. 

Unifor represents about 315,000 workers across Canada, including 41,000 at auto assembly plants and parts suppliers. It was formed in 2013 following the merger of the Canadian Auto Workers unio…

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Maserati to offer 10-year sports car powertrain warranties

Maserati will sell warranty coverage as long as 10 years on its engine, gearbox and transmission, the Stellantis brand said last week.

The Extra10 Warranty Program will debut Oct. 1 in the U.S., Canada and Latin America. Vehicles within 9.5 years of their registration date will be eligible, regardless of mileage. Coverage will be priced between $1,432 and $2,558, depending on the model, engine and market.

"This new service enables Maserati to provide all its customers with an innovative offer, adding value in terms of unparalleled flexibility in the automotive world," Maserati wrote in a news release Aug. 2. "A major new feature for the brand, aimed at consolidating the value of its cars over time, guaranteeing total peace of mind by combining top performance and the driving pleasure typical of every Trident car."

The Extra10 program also can provide perks such as trips to and from owners' houses or courtesy cars, Maserati said.

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Solera Auto Finance breaks 2,000-dealer mark

Solera's "captive-like" indirect lending program Solera Auto Finance has spread quickly, growing from fewer than five dealerships in April to nearly 2,300 by the end of July.

"There's been a really good reception to our product," Solera Auto Finance CEO Kenn Wardle told Automotive News last week in an update on the business. He also expressed confidence that discipline in payment-to-income ratios would allow the lender and its consumers to weather inflation.

Solera Auto Finance has expanded geographically faster than anticipated. When Solera announced the auto finance lender in March at the NADA Show, it expected the initiative to reach about 20 states by the end of 2022. As of Aug. 2, the lender had spread to 39 states, according to Wardle, who said he thought his company could potentially reach all 50 states by the end of the year.

Wardle said Solera had received "such a really strong reception" at the NADA Show that it recognized the need in the mark…

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