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U.S. auto sales fall in July, as Detroit dials back on inventory, rental sales

DETROIT — U.S. carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets in July as General Motors, Ford and Fiat Chrysler Automobiles struggled to curb a slide in retail sales. July is on track to be the fifth straight month in which the annual pace of car and light truck sales declined from the same month a year ago, in part because of fewer fleet sales, analysts and industry executives said. July 2016 sales hit a strong 17.9-million-vehicle pace. GM said the seasonally adjusted annual sales rate fell to an estimated 16.9 million vehicles in July. At midmorning on Tuesday, GM shares were down 3.4 percent at $34.77, Ford was down 2.8 percent at $10.91, and Fiat Chrysler shares were down 0.3 percent at $12.05 in New York. GM sales dropped 15 percent from a year ago to 226,107 vehicles, as the company cut rental fleet sales more than 80 percent. The automaker said inventories of unsold vehicles at month's end were 104 days, down from 105 days at the end of June. GM has promised investors to reduce inventories to 70 days by year-end. Ford said its July sales dipped 7.5 percent to 200,212 vehicles, as it cut fleet sales more than 26 percent. Inventories fell to 77 days from 79 the previous month. Fiat Chrysler said sales dropped 10 percent to 161,477, as it also cut back sales to daily rental fleets. Among the top Japanese companies, only Toyota reported a year-to-year gain, with sales up 4 percent to 222,057 — just 4,000 units behind GM. Honda sales were down 1 percent to 150,980 — its first-quarter sales continuing to decline in North America but seeing a big increase in China. And Nissan sales fell 3 percent to 128,295. GM, Ford and Fiat Chrysler have cautioned that second-half financial results likely will be lower than first-half results, in part reflecting production cuts in North America and pricing pressures. The automakers this year have been deliberately dialing back sales to rental-car companies, which often generate little to no profit, while struggling to keep retail sales from sagging further, according to industry analysts. Industry consultant LMC cut its full-year forecast for new vehicle sales to 17 million vehicles. Automakers sold a record 17.55 million vehicles in the United States in 2016.

Honda Odyssey Hybrid greens up your minivan

Almost neglected completely at the Honda press presentation at the Tokyo Motor Show today was what could be a true game changer. Lots of people drive minivans. Lots of people like hybrids. There are even some hybrid minivans for sale in Japan. But Honda has never offered its popular Odyssey premium minivan with a gas-electric powertrain. That's about to change. Too bad this fact was not mentioned at all during the press conference. The hybrid Odyssey was on the show floor, though, and a press pack distributed by Honda says that the minivan will have an updated dual-motor Sport Hybrid i-MMD powertrain "for outstanding environmental performance and powerful acceleration." Honda also says that this is the first time is has put the IPU (the Intelligent Power Unit, made up of the battery and Power Control Unit) under the front row seats. Overall, the powertrain update offers a, "new hybrid driving experience," Honda says, and that now, "the Odyssey Hybrid makes minivan travel more enjoyable than ever." The van also seems to be of a high specification, with plush seats, dark micro-fiber decorating the dash and forward areas, and captains chairs that look primed for napping. Hauling your family the green way comes with some creature comforts, it seems. Honda isn't any details about the environmental benefits of putting a hybrid powertrain into the Odyssey, but when the rumor of this vehicle first appeared, there was talk of a 50-percent reduction in fuel use. For a number of reasons - most important being that the American and Japanese Odysseys are very different vehicles – it's unlikely that a hybrid Odyssey will be available in the US any time soon. Featuring updated SPORT HYBRID i-MMD for outstanding environmental performance and powerful acceleration The most comfortable environment possible for transporting a large number of people. In fulfillment of this concept, the Odyssey premium minivan brings together a generously roomy cabin, distinctive styling, and an exhilarating yet steady driving experience. And now the Odyssey will also be available as a hybrid vehicle. Featur- ing a new power control unit with a compact and concentrated structure for outstanding power density, the innovative dual-motor SPORT HYBRID i-MMD hybrid system offers both outstanding environmental performance and the powerful acceleration of an electric motor.

Here are the best-selling cars and trucks from January 2015

Every month, Autoblog slogs through all the sales figures reported by automakers that do business in the United States, and, after a little bit of sorting, we put it into an easy-to-read chart in an attempt to make it as easy as possible to follow the ins and outs of sales and shipments. But that only covers the brands themselves, not the individual models they sell. And we think you'd all be interested in knowing which vehicles beat their rivals in sales from month to month, so we've put together this handy gallery to keep you in the know. While the leader of the pack may not come as much of a surprise, the order that the top ten finishes in changes frequently – due to automaker deals, the price of gas, etc. – and we've included some statistics to help you see how their current performance stacks up to month's past. Click here to see January 2015's Top Ten Best-Selling Cars And Trucks In America. By the Numbers Chevrolet Ford GM Honda Nissan RAM Toyota Car Buying