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Inside this issue
GM Recalls Drive U.S. to Most Since 2004 Before June
Toyota Remains Most Valuable Car Brand Worldwide, Study Says
Toyota 'Bullish' on Hydrogen Cars With California Station Plans
Obama Meets with Business Leaders, Touts Forum About Creating More U.S. Jobs
Self-Driving Cars Hold $87B Market Potential but Face Hurdles
Federal Policy Briefing Added to NADA Academy
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
GM Recalls Drive U.S. to Most Since 2004 Before June

General Motors Co.'s latest recalls have pushed the industry's total number of vehicles called back for repairs in the U.S. to at least 22.4 million already this year, more than in any calendar year since 2004. The biggest U.S. automaker announced safety actions on 2.42 million cars and light trucks. GM has recalled more than 15 million vehicles globally this year and added 35 product investigators as it works to show its newfound responsiveness. The company is facing multiple probes over its slow recall of 2.59 million cars linked to at least 13 deaths.
Source: Bloomberg

Editor's note: For more information on the GM recall, go to www.gmignitionupdate.com or www.safercar.gov.

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Toyota Remains Most Valuable Car Brand Worldwide, Study Says

Toyota is the world's most valuable car brand once again, while Ford and General Motors' Chevrolet brand are making strides as U.S. consumer confidence builds, according to research released by marketing consultant Millward Brown Optimor. Ford had the largest uptick in brand value with a 56 percent gain -- enough to move it into the Top 5. Chevrolet rejoined the list for the first time since 2009. The Toyota brand is valued at $29.6 billion, a 21 percent boost from 2013. The brand has finished in the top spot among auto brands in seven of nine years the study has been undertaken.
Source: Automotive News
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Toyota 'Bullish' on Hydrogen Cars With California Station Plans

Toyota Motor Corp.’s North American chief said California’s plan for more than 50 hydrogen fuel stations within two years is making executives feel “bullish” about the outlook for its Camry-sized fuel-cell car due in 2015. Plans by the U.S. state to provide about $47 million for 28 new stations selling hydrogen for fuel-cell cars, along with 10 already in operation and 16 more in development, will be enough to support at least 10,000 vehicles in California, Toyota’s Jim Lentz said in an interview at a Fortune conference in Laguna Niguel, Calif. Toyota, the world’s largest seller of hybrid-electric autos, is concluding a project with electric-car maker Tesla Motors Inc. this year in which it gets motors and battery packs for its RAV4 EV crossover.
Source: Bloomberg
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Obama Meets with Business Leaders, Touts Forum About Creating More U.S. Jobs

President Barack Obama met with business leaders at the White House on Tuesday as the administration announced it will hold a new forum next year to woo more American and foreign companies into adding jobs in the United States. Among the leaders during the 90-minute meeting was Ford Motor Co.'s Americas chief Joe Hinrichs, one of 11 business leaders to attend the meeting. He sat next to the president during the Roosevelt Room meeting that also included National Economic Council director Jeffrey Zients and senior advisor Valerie Jarrett.
Source: The Detroit News
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Self-Driving Cars Hold $87B Market Potential but Face Hurdles

Self-driving cars no longer belong to the sci-fi realm of "The Jetsons" as Google's prototype shows. In fact, research today says they hold huge market potential although they're not likely to be completely autonomous anytime soon. In 2030, they'll create an $87 billion opportunity for carmakers and technology developers, with software emerging as the biggest winner, says a report by Lux Research, a Boston-based technology research firm. Cars with relatively modest “Level 2″ features such as adaptive cruise control, lane departure warning and collision avoidance braking, will then account for 92% of autonomous vehicles. More advanced “Level 3″ cars that use high-resolution maps — as demonstrated by Google and Mercedes Benz — will gain only an 8% share, but no fully autonomous “Level 4″ car will likely be on the road in 2030, the report says.
Source: USA Today
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Federal Policy Briefing Added to NADA Academy


Students from the NADA Academy visit Capitol Hill for a legislative briefing. 

Blake Underriner and 26 NADA Academy students got up to speed on key policy issues facing auto retailers last week as part of a special briefing by the association's Capitol Hill office. It's a new NADA initiative to inform the next generation of new-car dealers about legislative issues that can affect auto retailing.

“It was one of the best parts of dealer academy,” said Underriner, the son of NADA's 2012 Chairman Bill Underriner from Billings, Mont. Not surprisingly, the younger Underriner was elected president of his class. 

The students were briefed on dealer priority issues, such as efforts by the Consumer Financial Protection Bureau (CFPB) to eliminate a dealer's ability to competitively price consumer credit. Other issues discussed included tax policy, the future of the “last in, first out” (LIFO) accounting method, and the rental/used vehicle recall issue that would require grounding of vehicles under an open recall.
 
The briefing not only highlighted the opportunities and obstacles NADA is currently tackling in D.C., but also helped encourage greater grassroots involvement on important federal issues. According to the students, that goal was accomplished. “The visit did create interest from the students to get involved,” Underriner added.

For more information on NADA's legislative agenda, visit www.nada.org/legislativeaffairs.
Source: NADA Legislative Affairs
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Quotable

"I'm more bullish on fuel cell than I was on EV. I think the cost of fuel cells is going to be substantially less than in an EV."

    -- Toyota's Jim Lentz, Bloomberg, May 20

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