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Inside this issue
GM Outsold Toyota Last Quarter to Climb Atop Car Industry
Loan Growth Rolls on for Big Banks
GM, Ford Fare Strongly in J.D. Power Survey
Chevy Impala Is First Detroit 3 Car to Top Consumer Reports' Sedan Rankings
BMW Challenges Tesla with New Electric i3 Car
Feds Want Cars to Talk to Each Other
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
GM Outsold Toyota Last Quarter to Climb Atop Car Industry

General Motors Co. outsold Toyota Motor Corp. for the first time in six quarters, underscoring the resurgence of U.S. automakers as they roll out the best cars they’ve built in a generation. The 2.48 million vehicles that Toyota and its subsidiaries sold during the quarter ended June, based on monthly figures reported today, was shy of the 2.49 million that Detroit-based GM disclosed earlier this month. Toyota stayed ahead of Volkswagen AG, which sold 2.39 million vehicles last quarter.
Source: Bloomberg

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Loan Growth Rolls on for Big Banks

Some of the biggest banks in auto finance boosted loan volume in the second quarter as U.S. light-vehicle sales rose 9 percent from a year earlier. Wells Fargo Dealer Services reported record second-quarter auto loan originations of $7.1 billion, about 9 percent higher compared with the 2012 period. Chase Auto Finance said its loan and lease originations rose about 17 percent in the quarter to $6.8 billion. Capital One reported that auto loan originations rose 5 percent to $4.5 million in the quarter. Bank of America also said its auto loan volume increased in the second quarter, but not enough to offset a decline in credit card borrowing.
Source: Automotive News

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GM, Ford Fare Strongly in J.D. Power Survey

The Volkswagen Group grabbed the most segment wins in J.D. Power’s 2013 U.S. Automotive Performance, Execution and Layout (APEAL) Study that ranks how enjoyable new vehicles are to customers. General Motors Co. and Ford Motor Co. also fared strongly. Automakers who have cars and trucks with high appeal can sell them faster, receive higher prices and have higher customer loyalty rates, according to J.D. Power, which released its study Wednesday.
Source: The Detroit News

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Chevy Impala Is First Detroit 3 Car to Top Consumer Reports' Sedan Rankings

The Chevrolet Impala, a former General Motors top seller that degenerated into a lackluster staple of airport car-rental lots, has morphed into the best sedan on the U.S. market with its latest redesign, Consumer Reports said. The magazine, which has long tended to prefer offerings from Toyota and Honda over anything from the Detroit 3, awarded the 2014 Impala a road test score of 95 out of 100, tied with the Infiniti G37 for third-highest of any current vehicle. The outgoing Impala received a 63.
Source: Automotive News

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BMW Challenges Tesla with New Electric i3 Car

Electric vehicles remain very much a niche market. But as BMW, one of the world’s largest automakers, formally enters the fray, that may begin to change

The concept of electric vehicles is hardly new. But electric-vehicle technology is only now beginning to hit the mass market. Only a few companies have made serious efforts at producing EVs on a large scale; Tesla Motors is one of them. The company’s Model S is now a benchmark by which other EV’s are measured—a high-end, premium product that sells out quickly. Nissan’s Leaf, Ford’s C-Max, and Chevy’s Volt are all selling modestly at lower price points. But Tesla is now getting some serious competition. BMW is poised to introduce its new i3 all-electric coupe in 2014. The new car, which will be offered at almost half the price of the Model S, is seen as the first serious foray into the luxury EV market by a large automaker. With over 300 independent dealers nationwide, deep pockets for R&D, and a well-established brand, BMW could become a serious EV player if it wants to be.
Source: Newsweek/The Daily Beast

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Feds Want Cars to Talk to Each Other

NTSB promotes tech that could let cars know the velocity of nearby vehicles and react to sudden changes

The U.S. National Transportation Safety Board (NTSB) is calling for motor vehicles to be equipped with "connected technology," machine-to-machine communications tools that could help drivers avoid accidents. The NTSB issued the call in a report filed after an investigation into a collision between a Mack truck and a school bus at an intersection in New Jersey last year.
Source: Computerworld

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Quotable
"The U.S. market this year is coming back but the competition is getting harsher. GM and other U.S. carmakers had the biggest tailwind from the strong U.S. economy."

   
-- Yoshiaki Kawano, an analyst at IHS Automotive in Tokyo, Bloomberg, July 26


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NADA Webinars
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