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Lamborghini Urus

Photo Credit: Audi AG | Lamborghini

Back in 2012, Lamborghini made the announcement that they would be producing a high-end SUV in addition to their sports car lineup. Now, a production date has been set and the new SUV will be available to purchase in 2018, will cost approximately $200,000, and can clock a top speed of 330 km/h. The final name has not been confirmed yet, but the concept name of the SUV is the Lamborghini Urus. Lamborghini also plans to produce a plug-in hybrid version of the Urus by 2020 and is considering producing a zero-emission version of the SUV as well.

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An upcoming decision looms large for General Motors Company on whether it will be forced to recall up to 4.3 million vehicles due to Takata airbag inflators deemed unsafe in May 2016 by the National Highway Traffic Safety Administration (NHTSA). NHTSA recalled all frontal Takata airbags that do not use a drying agent after studies linked the lack of such desiccant to propellant degradation which over time can eventually cause ruptures during normal deployment which could cause serious injury or death.

General Motors Co.

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CARPROOF’s Vehicle Valuation Report (VVR) gained some significant momentum in July with ADESA Canada integrating the new appraisal platform into their auction system. Subscribers of ADESA Market Guide may now access a vehicle’s True Retail Sold™ seamlessly through the Google Chrome extension VVR QuickView.

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Auto ISAC

Photo Credit: Automotive ISAC

Fiat Chrysler Automobiles (FCA) announced recently that they will be offering rewards up to $1,500 to ethical hackers who can find data security weaknesses in their vehicles and report them to the company. This news comes exactly one year after a Jeep Cherokee was turned off remotely by two hackers in conjunction with a reporter from Wired.com. You can read that full story here. That hack led to the recall of 1.4 million vehicles by FCA. Since then, automakers across the board have increased efforts to fix potential hacking issues with vehicles equipped with high-speed Internet connections.

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United States Federal regulators came down unprecedentedly hard on Volkswagen this past Tuesday with $15.3 billion (USD) fine against the German automaker in wake of last year’s diesel emissions scandal. VW will pay out $14.7 billion to consumers and federal agencies. In addition, the automaker also will pay $600 million (USD) to settle with 44 states, Puerto Rico, and the District of Columbia.

Photo Credit: www.ibtimes.com

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Brexit

Photo Credit: Globalresearch.ca

On June 23rd, 2016, the United Kingdom held a referendum on the country’s continued membership to the European Union (EU). The British people voted in favour of the British exit (Brexit), with 51.9% in favour of an exit and 48.1% in favour of remaining. This decision is projected to make huge waves on the economy and various industries, and the automobile industry is no exception. Shares of various suppliers and dealership groups with ties to the U.K. took a hit immediately following the results of the referendum. Share prices on Fiat Chrysler Automobiles, which has its headquarters in London, dropped on the New York Stock Exchange from $7.19 to $6.31 on the day after the referendum results.

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2016 Tesla Model S

Photo Credit: Green Car Reports

The Tesla Model S electric sedan has had a great first quarter of sales in Canada. 325 Canadians purchased the Model S during the month of March alone, which is now the all-time sales record for plug-in vehicle sales for a single month. March sales made up for a relatively sluggish first two months of the year, where the Model S sold 47 and 88 units in January and February. Altogether, this gives the Model S 460 total units sold in Q1 of 2016, which slightly outpaces the second place Chevy Volt which has 442 units sold in the same time period.

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Volkswagen AG is investing $300 million in the ride-hailing application Gett which looks to expand its current operations in Europe and New York City. Currently operating in over 60 cities worldwide with a primary focus in Europe, Gett competes directly with other ride-hailing apps such as Uber and Lyft which have greater prominence in the North American market. Gett is currently only available in New York City on the North American continent.

VW Gett

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CARPROOF has recently launched a used-vehicle appraisal tool called Vehicle Valuation Report (VVR) which incorporates actual retail sold values into its appraisal formula. Having data regarding what similar cars have sold for removes the unknown variable between what a car was listed for and for how much it actually sold.

CarProof

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IIHS Crash Test Results

Photo Credit: IIHS Media Release

Earlier this month, the Insurance Institute for Highway Safety (IIHS) introduced a new crash test that would test the safety of 10 different variants of pickup trucks belonging to major auto dealers Ford, Chevrolet, GMC, Ram, and Toyota. The test works by replicating a situation where the vehicle runs off the road and the front end hits a tree or a pole at 65 km/h. The results of this test could be quite influential considering the intense competition that currently exists in the truck segment. So far in 2016, Ford has sold over 186,000 F-150s. In comparison, Chevy has sold 128,965 Silverados in the first quarter of the year and Fiat-Chrysler has sold 113,367 Rams.

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