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The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

Mopar updates owner apps to make car ownership easier

Owners of any Fiat Chrysler vehicle will want to head to the Apple App or Google Play store to download the latest version of their brand-specific smartphone app. Developed by Mopar, the new suite of FCA Owner apps specific to each brand pack a number of valuable features. For starters, the apps let owners access information like maintenance schedules, service history and recall notices. The apps also include an array of how-to information and instructional videos, offer push notification for important updates like maintenance offers and recall alerts, and allow customers to schedule test drives and receive quotes from their local dealers for new vehicles. But that's just the tip of the proverbial iceberg. The FCA Owner apps also feature an augmented reality function that helps drivers identify instrument-panel icons. There's a Parking Reminder feature that helps drivers remember where they parked their car, guides them back to their parking spot and tracks the time left on the meter. Finally, there's an Accident Assistant feature that helps drivers record the specifics of an accident, upload insurance information and take photos of the scene. It'll even help find the closest certified collision repair facility, schedule an appointment and access roadside assistance. The apps are available for any Chrysler, Dodge, Ram, Jeep, Fiat or Alfa Romeo built from 2011 till today, and are available for either iOS or Android. If you've got more than one FCA vehicle in your garage, you needn't download multiple versions of the app as they'll work on any model the Italian-American automaker offers. Mopar Enhances FCA Owner Apps - Redesigned FCA Owner apps offer a wide range of VIN-specific information - Owners can access maintenance schedules, service history, recall notices and more - "Augmented reality" function, beginning with 2015 models, allows owners to use camera feature on mobile devices to scan and identify instrument panel icons - Industry-first Accident Assistant feature helps owners easily document important accident information and quickly locate a certified repair facility - Individual brand versions of the app support all FCA brand vehicles - FCA Owner apps are free to download for both iOS and Android mobile devices May 29, 2015 , Auburn Hills, Mich. - The Mopar brand has redesigned and enhanced its suite of FCA Owner apps, putting more resources than ever at owners' fingertips with easier access to vehicle and lifestyle information.

Fiat preparing to say 'ciao' to the 500X in the United States

Fiat's 500X crossover will enter the pantheon of automotive history without a successor. Ending years of rumors and speculation, the company confirmed that the soft-roader will not be replaced in the United States once production of the current-generation model ends.  As we reported from the L.A. Auto Show, the 500X will be discontinued after it reaches the end of its lifecycle. "When it dies, it dies. We will not replace it," Fiat boss Olivier Francois confirmed to Motor Trend.  With the Mazda MX-5 Miata-based 124 Spider and the 500L people-mover out of the picture, the 500X is the last Fiat standing in the United States. Its demise hardly comes as a surprise: Fiat sold merely 1,181 units in 2021, an 18% drop compared to 2020. Given those anemic numbers and the fact it debuted at the Paris Auto Show of 2014, the end of its lifecycle might not be that far off — 2023 might be its final model year. Francois' comments douse cold water on rumors claiming Fiat planned to merge the 500X and the 500L into one model tentatively called 500XL. When it does sail off into the history book, the Jeep Renegade's Italian cousin will pass the torch to the electric 500e, which has been on sale in Europe since 2020 but won't land in the United States until early 2024. Market-specific details will be announced in 2023. Fiat seems content with offering a one-model range in the United States. "We have a clear plan not to do anything besides the 500. It's the one model people like," Francois candidly admitted. "Fiat is not here to be everything to everyone everywhere," he added. And, the company knows a tiny EV with a range rating of under 200 miles will be a tough sell. Francois predicted American sales will be "a rounding error." European motorists see more of the Fiat iceberg. The Turin-based company notably still sells the last-generation 500 and its Abarth-tuned derivatives, which both left American showrooms in 2019. Its range also includes the massively popular Panda city car and the Tipo.