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Inside this issue
U.S.: All Vehicles With Recalled Air Bags Identified
Automakers Stuck with Too Many Cars, Not Enough Trucks
Why Longer Loan Terms Are Not a Big Concern
AAA Finds 8 in 10 Drivers Report Their MPG Tops EPA Ratings
GM, Hyundai, Nissan, VW Top J.D. Power Quality Awards
GM and FCA Line Up Financial Advisers in Merger Standoff, Report Says
GM Team Surprised While Restoring Milestone 'Vette
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
U.S.: All Vehicles With Recalled Air Bags Identified

The National Highway Traffic Safety Administration said Wednesday that 11 auto manufacturers have identified all vehicles with potentially defective Takata air bags, and have posted VIN numbers so that owners can check at safercar.gov to determine if their vehicle has been recalled. In all, an estimated 34 million vehicles with the problem air bags have been identified in the largest auto safety recall in U.S. history.
Source: The Detroit News
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Automakers Stuck with Too Many Cars, Not Enough Trucks

Automakers, caught short of fuel-efficient cars when gas prices soared in 2008, now find themselves facing the opposite problem: not enough SUVs and pickups and a surfeit of cars. Pickup and SUV sales were up 10% in the first five months of the year compared to the same period last year, Autodata reports. Car sales were off 1.3%. As the summer sales season is about to hit full swing, automakers are canceling vacations and adding shifts at truck plants — and still complaining they can't get enough. And they are reducing output at car plants.
Source: USA Today
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Why Longer Loan Terms Are Not a Big Concern

The average auto loan term on a new car has grown to more than five years. And that has some industry watchers worried that extended loans will keep consumers out of the market longer, lead to negative equity and increase default rates. But Michael Collins, senior vice president of F&I solutions at Dealertrack, isn’t concerned that the trend toward longer loans is necessarily putting the market in danger. He says there are multiple factors to consider before assessing the risk, such as the collateral, loan value and credit quality of the applicant. He also points out that consumers’ opportunity for low monthly payments is fueling new-vehicle retail sales, which many analysts predict will reach 17 million this year.
Source: Automotive News
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AAA Finds 8 in 10 Drivers Report Their MPG Tops EPA Ratings

Eight in 10 drivers report getting better fuel economy than the EPA ratings posted on their vehicles’ window stickers, AAA says in a new study. After an earlier AAA survey indicated that one-third of Americans doubt the accuracy of the EPA’s window stickers, the association did its own analysis and testing. AAA’s conclusion: Driver behavior and environmental conditions are more likely responsible than vehicle shortcomings for real-world fuel economy variations from the EPA ratings.
Source: Automotive News
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GM, Hyundai, Nissan, VW Top J.D. Power Quality Awards

For the first time ever Japanese automakers — long known for their high quality — have fallen below the industry average for initial quality, according to the the J.D. Power 2015 U.S. Initial Quality Study released Wednesday. Meanwhile Korean and European brands accelerated in quality improvements. Overall industry quality improved 3 percent from last year, with problems per 100 vehicles dropping from 116 to 112. The study, released at an Automotive Press Association meeting in Detroit, found that European brands for the first time outperformed Japanese brands. And domestic makes were rated equal in quality to the Japanese for only the second time in the study's 29-year history.
Source: The Detroit News
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GM and FCA Line Up Financial Advisers in Merger Standoff, Report Says

Hostile bid seen as a long shot for Marchionne

General Motors and Fiat Chrysler Automobiles have turned to investment banks for help to deal with a stand-off as FCA seeks to force a merger with its Detroit rival, sources familiar with the matter told Reuters. GM is being advised by Goldman Sachs, while FCA is working with UBS on the matter, several sources said, with one adding that Morgan Stanley was also working with GM. GM's board rebuffed a merger proposal from the Italian-American carmaker earlier this year and CEO Mary Barra said last week she had no interest in a combination. But Barra's rejection has not stopped FCA boss Sergio Marchionne working on a merger plan, according to the sources. He is lobbying GM investors in an effort to drag the GM board to the negotiating table, they said.
Source: Reuters
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GM Team Surprised While Restoring Milestone 'Vette

It was just before 6 a.m. on Wednesday, February 12, 2014, when officials at the National Corvette Museum in Bowling Green, Kentucky, received a phone call from their security company. Motion sensors in the museum's Skydome, a room that housed the star cars, had set off an alarm. When they arrived, what those officials saw was that a portion of the Skydome floor was missing — and so were eight cherished and historic Corvettes, swallowed by a sinkhole that opened beneath the Skydome's tall, red spire-style structure. Recently, Chevrolet opened the super-secret Mechanical Assembly garage beneath the GM Design studios in Warren to show the progress — and shared a surprising discovery — that has been made in restoring one of those cars: the 1 Millionth Corvette to roll off an assembly line, a white 1992 convertible with a red interior.
Source: The Detroit News
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Quotable
"The improvement rate we're seeing on the domestic brands, European brands and the Korean brands have now outpaced what we're seeing on the Japanese brands."

    -- Renee Stephens, J.D. Power's vice president of U.S. automotive quality, commenting on the 2015 U.S. Initial Quality Study released Wednesday, The Detroit News, June 17

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