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Inside this issue
Video: NADA Chairman Discusses How CFPB Guidance Could Hurt Consumers
Global Economy on Track for Sustainable Growth, Report Says
NADA: Used-Vehicle Prices Drop, But Still Above Average
GM's Barra: Automaker Working on Cutting Costs
Study: Drivers Still Distracted, Despite Tech Advances Keeping Their Eyes on the Road
Who is Preston Tucker?
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Video: NADA Chairman Discusses How CFPB Guidance Could Hurt Consumers

In an interview on AutoFocus with David Hyatt, NADA Chairman Dave Westcott renews a call for more transparency from the Consumer Financial Protection Bureau. Click here for the full interview.
Source: NADAFrontPage.com
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Global Economy on Track for Sustainable Growth, Report Says

The global economy may be entering an era of slower but more sustainable growth as the effects of the recent crisis fade, the World Bank said Wednesday in its latest update on economic conditions. The semiannual report said that global trade has picked up while easing commodity prices are keeping inflation in check. Even after Congress agreed this year to raise taxes and allowed the spending cuts known as the sequester to go into effect, the U.S. economy is expanding and growth is expected to accelerate next year. The major emerging markets are likely to experience growth that is slower than the pre-crisis boom but also less volatile.
Source: The Washington Post
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NADA: Used-Vehicle Prices Drop, But Still Above Average

Rising supply and steady demand moderate used-vehicle price fluctuations

Prices for used cars and light trucks up to 8-years-old declined 2.1% in May—the largest drop since last October, says the NADA Used Car Guide in the June edition of Guidelines. In terms of U.S. dollars, the average trade-in price of used vehicles up to 8-years-old slipped from $15,320 last year to $15,263 in May 2013 year-to-date, a modest drop of $57. “While prices this year have held up well, a growing supply of 3-year-old vehicles is applying downward pressure on prices for late-model used vehicles,” said Jonathan Banks, executive automotive analyst for the NADA Used Car Guide.
Source: NADAFrontPage.com
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GM's Barra: Automaker Working on Cutting Costs

General Motors Co.'s global product chief told analysts Wednesday that the automaker is working to boost its operating margins by working with suppliers, using more global vehicle architectures and components across its footprint and by cutting logistics costs. Mary Barra, GM's senior vice president of global product development, said the company is working to leverage its scale and is reducing complexity to help improve margins. She made the comments during GM's Global Business Conference at the Milford Proving Ground. GM wants to trim its vehicle architectures from the 30 it used in 2010 to 17 by 2018, and boost the percentage of vehicles on a global architecture to 96 percent in 2018, from 71 percent today. The company also is working to reduce the number of engine platforms it uses, Barra said.
Source: The Detroit News
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Study: Drivers Still Distracted, Despite Tech Advances Keeping Their Eyes on the Road

Your eyes may be on the road ahead, but if you're on the phone or using a voice-activated app to send a text message, there's a disconnect between your eyeballs and your brain. “Cognitive distraction is something that drivers aren't aware of, so they may go through a red light or a stop sign and be totally unaware they've missed it,” said David L. Strayer, whose research team at the University of Utah conducted a two-year study of driver behavior. “They will tell you ‘I never saw it,’ because their brain was focused elsewhere." The study's most surprising finding is that technology developed to enhance the safety of text messaging while driving is not very effective. When compared with other diversions inside the car, “interacting with the speech-to-text system was the most cognitively distracting,” the report said. “This clearly suggests that the adoption of voice-based systems in the vehicle may have unintended consequences that adversely affect traffic safety.” The AAA Foundation for Traffic Safety sponsored the study, which was released Wednesday.
Source: The Washington Post
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Who is Preston Tucker?

In the lead article in NADA Headlines yesterday (9 Questions for Tesla's Elon Musk), Fortune magazine's Alex Taylor III poses the question, "Is Musk the next Henry Ford -- or Preston Tucker?" This led to the question, "Who is Preston Tucker?" People magazine has the answer in the article headlined "Unlike Coppola's Movie Hero, Auto Innovator Preston Tucker Was as Daring, Lavish and Flawed as His Car." Click here to learn about the former automaker who introduced many features that have since become widely used in modern cars.
Source: NADA Public Affairs

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More Articles
 
Quotable
"Flat fees would raise the cost of auto credit for all consumers. It would especially hurt the very consumers the CFPB is trying to protect."  

     --- NADA Chairman Dave Westcott in a recent AutoFocus with David Hyatt interview, June 13


"The slower, more stable growth is a welcome development. The potential cliff events we have been talking about have receded into the background ... and it is a bit of a game changer." 

      --- Andrew Burns, manager of global macroeconomics for the World Bank, predicting a slower, more stable growth for the world economy, The Washington Post, June 13

NADA Market Beat
May Sales Rise 12.3 Percent Over April
Chairman's Column
NADA Charitable Foundation Aids Dealership Employees Devastated by Tornado
Videos

 
Video: Bob Lutz on the Future of Electric Cars, Tesla, Fisker and Better Place (CNBC)

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NADA Webinars
(All webinars begin at 1 p.m. ET. Click webinar title to register.)

- June 19: Digital Retailing Strategies That Increase ROI

- June 26: Advertising Checklist: Check Ten Boxes to Win!

 For more information about the webinars, click here.

NADA Foundation News
Oklahoma Auto Dealers Donate $50,000 for Tornado Relief
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