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Tuesday Ticker: October 6, 2020

Toronto, Ontario ⁠— Tesla takes on a fight with the Trump Administration, ⁠Canadian automakers report recent sales numbers and an ADAS provider launches a Lyft-exclusive claims management platform update in this week’s Tuesday Ticker.

Tesla sues Trump

Electric vehicle giant Tesla is suing the Trump Administration for tariffs imposed on a computer chip and other imports from China.

Tesla reportedly wants the court to declare the tariffs unlawful, said news outlet, Tech Crunch. It is also seeking a refund for tariffs the company paid with interest. The custom chip acts as the brain of Tesla vehicles and it only assembled in Shanghai, China.

Tesla is not alone in this decision, either; also suing over tariffs are automakers like Volvo, Ford and Mercedes-Benz.  

September sales in Canada

Subaru and Hyundai’s Canadian divisions are celebrating stellar sales months for September, while others like Nissan and General Motors continue to suffer decreasing sales.

Last week, both Subaru and Hyundai announced best-ever sales months, with Subaru moving 6,611 units last month and Hyundai cashing up 12,614 cars for purchase.

Subaru’s sales increased 39 percent over the same period last year, while Hyundai boasts a 5.8 percent increase from September 2019.

On the other hand, Nissan and GM continue to suffer losses as the automakers opted to report third-quarter results instead of monthly sales. Nissan saw a 14.5 percent drop from last year’s Q3 sales, while GM saw a 10.5 percent drop.

Post-collision Lyfts

Agero, a provider of advanced-driver assistance services, has enhanced its digital accident claims management platform to include a new rideshare option for insurers interested in offering alternative transportation to policyholders involved in an accident. 

As part of the new service, insurers can extend to policyholders a Lyft ride from the accident location to the repair shop or other desired locations. Agero agents will arrange for the rides, offering policyholders a concierge-style experience. Insurers can control program limits, such as ride cost or distance, and use it to supplement or replace rental car provisions, as desired. 

This new option extends the Lyft alternative transportation experience beyond typical breakdown events, such as dead batteries, flat tires or mechanical issues, to include vehicles involved in an accident.

Agero will continue to dispatch any towing, or connect the driver to emergency 911 services, as necessary, such as in the case of automatic crash notification where the driver does not respond.

 

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