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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.

2019 Detroit Auto Show Special | Autoblog Podcast #568

This week's Autoblog Podcast is a special one, recorded from Cobo Center in Detroit, site of the 2019 North American International Auto Show (NAIAS). Editor-in-Chief Greg Migliore is first joined by Senior Editor Alex Kierstein and Consumer Editor Jeremy Korzeniewski to talk about the Toyota Supra, Ford Shelby GT500 and Subaru STI S209. Then Senior Editor, Green, John Snyder and Associate Editor Joel Stocksdale join Greg to discuss the Nissan IMs Concept, new Ford Explorer and Kia Telluride, before going over the Editors' Picks for the best cars of the Detroit Auto Show. Autoblog Podcast #568 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2020 Toyota Supra 2020 Ford Mustang Shelby GT500 2019 Subaru WRX STI S209 Nissan IMs Concept 2020 Ford Explorer (including ST and Hybrid) 2020 Kia Telluride Best in Show: 2019 Detroit Auto Show Editors' Picks Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

Ford expands 'Do Not Drive' airbag warning to 33,000 more Ranger trucks

WASHINGTON — Ford on Monday warned an additional 33,000 owners of older pickup trucks in North America to stop driving them until potentially defective Takata Corp airbag inflators can be repaired. In January, Ford told 2,900 owners of model year 2006 Ford Ranger trucks to stop driving immediately after a second death was linked to inflators built on the same day. The expanded warning was prompted by additional testing, Ford, the second largest U.S. automaker, said in a statement, and now covers a broader time frame of production. Mazda Motor Corp said it was issuing a similar expansion for about 1,800 2006 Mazda B-Series trucks that were built by Ford after it had issued a warning for 160 trucks in January. The National Highway Traffic Safety Administration (NHTSA) said the vehicles pose "an immediate risk to safety" and urged owners to immediately schedule a free repair. Ford and Mazda have replacement airbag inflators available now and will tow vehicles to a dealership for repairs as well as provide loaner vehicles free of charge, the companies and NHTSA said. About 90 percent of the vehicles subject to the "Do Not Drive" warning are in the United States. Two U.S. senators in January questioned why Ford's warning only applied to a small number of the 391,000 2004-2006 Ranger trucks recalled because of Takata air bags in 2016 in the United States. Ford said last month the death in a July 2017 crash in West Virginia in a 2006 Ford Ranger was caused by a defective Takata inflator after a similar 2015 death in South Carolina. At least 22 deaths worldwide are linked to the Takata inflators that can rupture and send deadly metal fragments into the driver's body. The faulty inflators have led to the largest automotive recall in history. The other 20 deaths have occurred in Honda vehicles, most of which were in the United States. About a quarter of the 2,900 vehicles have been repaired since Ford issued the warning last month, the company said on Monday. Takata said in June it has recalled, or expected to recall, about 125 million vehicles worldwide by 2019, including more than 60 million in the United States. About 19 automakers worldwide are affected. Takata inflators can explode with excessive force, unleashing metal shrapnel inside cars and trucks and have injured more than 200 people. The defect led Takata to file for bankruptcy protection in June.Reporting by David ShepardsonRelated Video: