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Subprime Auto Lending Hits 11-Year Low

Despite an increase in subprime loan volume in the third quarter, auto loans to consumers with the riskiest credit histories hit their lowest overall share of the market in 11 years, according to Experian. Subprime and deep subprime originations accounted for 21.19% of the total auto loan origination market, down 1.5% from the year earlier, Experian said in its latest report, released December 5. Experian defines subprime borrowers as those with credit scores between 501 and 600. Deep subprime borrowers have scores between 300 and 500. Read the full...
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The vote by the Colorado Air Quality Control Commission enacts a June executive order by Gov. John Hickenlooper. NHTSA Terminates Self-Driving School Bus

Federal safety regulators last month demanded that the community stop carrying students on an autonomous shuttle designed to look like a school bus. A cease-and-desist letter sent by National Highway Traffic Safety Administration officials said using the vehicle for that purpose “puts the safety of children and others at risk.” Since the order, the shuttle has stopped its three-block route. The demand abruptly ended an experiment that leaders in Babcock Ranch, a planned development northeast of Fort Myers, had begun five weeks earlier as part of an effort to incorporate innovative...
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Colorado Adopts California Emissions Standards

Colorado has adopted vehicle emission rules that incorporate California standards. Under the rules, new vehicles sold in Colorado must average 36 mpg (15 kilometers per liter) by 2025. That’s about 10 mpg (4 kilometers per liter) over the existing standard. Colorado now joins several other states in taking proactive steps to avoid any weakening of federal standards by the Trump administration.
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How Insurance Markets Will Expand in the Age of Autonomous Vehicles

Though it’s estimated that by 2025 auto insurance premiums will drop by $25 billion as a result of the adoption of driverless cars, the insurance market is expected to recover through new lines of coverage, according to a report by market analyst Accenture released last year. In fact, new coverage lines will generate substantially more premiums than are lost – to the tune of almost $81 billion. During the recent annual Professional Liability Underwriting Society (PLUS) conference in San Diego, Jamison Narbaitz, senior counsel with Clyde & Co., discussed three areas of insurance that will...
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BlackBerry Buys Cylance for $1.4 Billion

BlackBerry Ltd. executed a $1.4 billion purchase of California-based cybersecurity company Cylance, which further illustrates how tech companies are involving their operations in the autonomous vehicle space. Under John Chen, BlackBerry has shifted to selling software to manage mobile devices, as well as systems in driverless cars. The company’s QNX software allows carmakers to offer a range of features such as infotainment, connectivity, in-car network security, an advanced driver assistance system and an over-the-air software update platform. Privately owned Cylance’s software will...
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Ford and Walmart to Test Self-Driving Cars in Miami

Ford continues to double-down on its self-driving-car testing program in Miami-Dade, announcing a new grocery delivery partnership with Walmart. Ford will work with Walmart’s existing partnership with Postmates to deliver Walmart groceries to customers. The catch: They’ll arrive in vehicles designed to mimic the behavior of an autonomous vehicle. (Backup safety drivers are still behind the wheel.)
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How Autonomous Vehicles Could Shape Future Development

Autonomous vehicles are poised to dramatically change cities’ roads (from congestion to safety) and commuting patterns, but developers think the innovation will also have a profound impact on the types of buildings that can be constructed. According to ZOM Living CEO Greg West, the greatest constraining factor to urban real estate development is parking. Building entrances for people to walk in is easy, he said, but constructing entrances and garages to store hundreds of cars is a major challenge. Read the full...
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Six trillion is what the world has to spend for an electric car-only future

These days, electric cars can drive further and be charged faster than previously. Automakers are beginning to churn out at least one electric variant, with more than 100 battery-powered models to be available by next year. Does that mean the affordable car of the future has arrived? Sales numbers suggest it’s getting closer. Consumers bought more than one million electric vehicles last year, an increase of almost 60% from 2016, even as global car demand turned lower. China, with an aggressive green vehicle policy, accounts for almost half of worldwide electric passenger-car sales. The...
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New Jersey statute bars action due to uninsured driving

In Scholes v. Hausmann, No. A-0980-17T3 (N.J. Super. Ct. App. Div. 2018), the Superior Court of New Jersey, Appellate Division held that a New Jersey statute precluded recovery in a personal injury action. Plaintiff and Defendant were involved in an automobile accident in which Plaintiff sustained injuries. The vehicle he was driving was titled and registered in his name using his friend’s address in Florida, despite him living and working in New Jersey and garaging the vehicle in New Jersey. Plaintiff failed to obtain a New Jersey driver’s license or register his vehicle in New Jersey, and...
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Driverless car insurance uncertainty may lead to “litigation hell”

A recent S&P Global article highlighted that Florida Insurance Commissioner David Altmaier thinks the industry has plenty to work out as the prospect of widespread autonomous vehicle adoption grows, especially the potential for a legal quagmire. Altmaier recounted his near-wreck experience riding inside an autonomous vehicle. After the vehicle’s operator switched on autopilot, the car ran off the interstate and nearly crashed into a ditch. The driver was able to take control of the wheel before an accident occurred and guided it back onto the road. Read the full article01.
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Austin, Texas, to test connected car technology within city

Austin has completed deployment of dedicated short-range communication (DSRC) technology at five city intersections following its entry into the US Department of Transportation’s signal phasing and timing (SPaT) challenge. This technology would allow connected cars to communicate in real-time with a traffic signal controller, increasing pedestrian and vehicle safety as part of the operations of a signalized intersection. This type of information will help future connected traffic signals and equipped vehicles to communicate about pedestrian or bicyclist presence in the intersection, improve...
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Used truck prices up 9% over last year

Record-setting orders for new Class 8 trucks are apparently not creating any type of used-truck glut, if used-truck prices are any indication. The average price of total used Class 8 trucks in September rose 3% month-over-month and fared even better, up 9% year-to-date, when compared to the first nine months of 2017, according to ACT Research. Read the analysis.
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General Motors calls on Trump administration to back nationwide electric vehicle program

General Motors said it wants the Trump administration to support a nationwide program to increase the sale of emission-free vehicles like electric cars, even as the government has proposed ending California’s ability to require more clean vehicles. GM says a nationwide program modeled on California’s effort could result in seven million electric vehicles, or EVs, on US roads by 2030. The largest US automaker said the requirements would not apply if “battery cost or infrastructure targets are not practicable within the time frame.” GM product chief Mark Reuss told reporters that governments...
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US/Mexico trade deal might impact trucks

Annex language attached to the freshly minted trade deal to replace the North American Free Trade Agreement (NAFTA) paves the way for the US to limit how far Mexican trucks can transport goods into the US. The annex says the US “reserves the right” to limit “grants of authority for persons of Mexico to provide cross-border long-haul truck services” outside US border commercial zones, if those limitations “are required to address material harm or the threat of material harm to US suppliers, operators, or drivers.” Under the provision, “material harm” means a significant loss in the share of...
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