NADA Headlines - 07/26/2013 (Plain Text Version)
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.
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.
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.
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.
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
NTSB promotes tech that could let cars know the velocity of nearby vehicles and react to sudden changes