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Inside this issue
Subprime Auto Sales Bubble? Not So, Say Experts
NADA to Hold Press Briefing on Economic and Auto Retailing Trends
Constant Merger Talk is Testing Faith in Marchionne
NHTSA Says it is Making Significant Reforms
Bumps in Toyota's Road to Diversity
GM Gambles on Quick Car Redesigns in Shifting Market
NADA Chairman to Headline Industry Summit
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Subprime Auto Sales Bubble? Not So, Say Experts

As U.S. auto sales have surged to a near-record level, a growing chorus of critics have suggested the boom is being fueled mainly by sales of new vehicles to buyers with subprime credit ratings. Now, new data from Equifax shows the fear of a subprime car sales boom is unfounded; there is no bubble in auto sales to those with a weak track record of paying their bills in time. "I don't see a bubble in subprime lending," said Dennis Carlson, Deputy Chief Economist for Equifax. "We're not seeing a spike in subprime loans."
Source: CNBC

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NADA to Hold Press Briefing on Economic and Auto Retailing Trends

As the second quarter comes to a close, Steven Szakaly, chief economist of the National Automobile Dealers Association, and Larry Dixon, NADA analyst, will hold a joint press briefing at 10:30 a.m. ET on Monday, June 29 during a conference call to provide insight into economic trends impacting the retail-auto market.

Szakaly will provide an economic outlook and analysis of the new-vehicle market over the past six months and rest of the year, as well as review NADA’s new-vehicle sales forecast for 2015. He will also discuss the global conditions that could influence the U.S. economy and auto retailing this year. Dixon will discuss the movement of used-vehicle prices over the first half of the year and expectations for the remainder of 2015, and highlight vehicle segment pricing trends in the used market. He will also provide a long-term outlook, which includes a price depreciation forecast for 2016-2017, and the implications for used-vehicle prices and equity caused by faster depreciation and longer loan terms.

A Q&A session with members of the media and industry will follow the briefing. To register for the conference call, visit www.nada.org/autoretailing. Registrants will receive a call-in number and conference ID.
Source: NADA
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Constant Merger Talk is Testing Faith in Marchionne

Some dealers, employees say they're uneasy about FCA's future

Five years into an unlikely corporate turnaround, many of Fiat Chrysler's U.S. dealers and employees looked at CEO Sergio Marchionne as though he could do no wrong. After all, a company that had long lurched from crisis to crisis was alive again, delivering more palatable and profitable products and an impressive string of sales increases in the U.S. Even as these stakeholders witnessed sudden executive ousters, took on burdensome Fiat franchises and endured high-pressure incentive programs, their trust in their CEO seemed unshakable. That's not the case anymore. The constant drumbeat of stories about efforts by Marchionne to provoke a merger with General Motors is testing the faith of the dealers, workers and executives who once pledged undying fealty to their sweater-clad savior from 2009.
Source: Automotive News

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NHTSA Says it is Making Significant Reforms

National Highway Traffic Safety Administration chief Mark Rosekind vows to reshape the auto safety agency by challenging staff to rethink assumptions as he lobbies for more money, personnel and authority to remake the agency. Rosekind — who was a board member at the National Transportation Safety Board until his speedy confirmation as administrator in December — has shaken things up at NHTSA and inherited a lot of major issues to address. In Rosekind’s response to the scathing report by inspector general’s office, he noted NHTSA’s massive workload. He said the agency “leads the world in protecting the driving public from vehicle safety defects.”
Source: The Detroit News

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Bumps in Toyota's Road to Diversity

President stands by embattled American, French executives

Just three months ago, Akio Toyoda sent shock waves through Toyota Motor Corp., promoting three non-Japanese executives to top positions at headquarters in an effort to make the company's leadership reflect its global reach. Yet a pair of culture clashes last week suggest that the Toyota chief's effort to shake up the company won't be easy.
Source: Automotive News
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GM Gambles on Quick Car Redesigns in Shifting Market

General Motors wants to raise its game in the car space so badly that it's thrown the kitchen sink into the next-generation Chevrolet Malibu sedan, from automatic braking to a hybrid version that will return the segment's best fuel economy. GM executives are confident that they'll reap more than $1,000 in extra per-vehicle profit from the 2016 Malibu when it goes on sale this fall, simply by offering head-turning features and options rather than fire-sale prices. They expect the same from the redesigned Cruze, scheduled for an unveiling this week. But those cars will arrive in a market that is squeezing car margins, not expanding them.
Source: Automotive News
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NADA Chairman to Headline Industry Summit

Organizers of the annual P&A Leadership Summit have announced that Bill Fox, 2015 chairman of the National Automobile Dealers Association (NADA), will deliver the evening keynote address at this year’s Industry Summit, which will be held Sept. 8–10, 2015, at Paris Las Vegas. Attendees who register for the P&A Leadership Summit are invited to attend the session. “Bill Fox is a tireless advocate for his fellow dealers, among whom he is held in high regard as a voice of reason and leadership through good times and bad,” said David Gesualdo, show chair and publisher of F&I and Showroom and P&A magazines. “We are honored to welcome him to Industry Summit.”
Source: P&A Magazine
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Quotable
"We have a very healthy auto lending market right now."

    -- Dennis Carlson, deputy chief economist for Equifax, commenting on the unfounded fear of a subprime auto sales bubble, CNBC, June 22

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