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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 recalling 183k cars and crossovers over unintended braking issue

A recall has been issued for nearly 183,000 Honda and Acura brand vehicles from the 2005 and 2006 model years. The problem stems from a potential malfunctions to the vehicles' stability control and braking systems.
Drivers have reported a malfunction to Honda's Vehicle Stability Assist system, though to date, no crashes or injuries have been reported as a result of it. Some of the vehicles' Vehicle Stability Assist (VSA) control units may have an electric capacitor that was damaged during manufacture. A damaged control unit could cause the VSA system to apply brake force for a "fraction of a second" without any driver input, or could add additional brake force if it malfunctions while the driver is already braking. Either example could increase the risk of a crash.
To fix the issue, Honda will install a new electrical sub-harness, free of charge to the owner. The recall specifies 101,000 Honda Pilot (pictured), 60,000 Acura MDX and 21,000 Acura RL vehicles from the 2005 model year will be affected. An additional 800 MDX crossovers from the 2006 model year are also included in the recall. In addition, 51,000 of the affected 2005 Pilots will be inspected to be sure that a ground bolt for the VSA system is properly tight. Should this bolt come lose, similar unexpected brake activation may occur.

Watch this LSR Honda Insight crash at 190 mph in the desert

Like any form of motorsports, attempts at breaking land speed records are inherently dangerous. To wit: During a recent speed competition at El Mirage dry lake beds in southern California, racer Brian Gillespie and his first-gen Honda Insight crashed at nearly 190 miles per hour, and it was all caught on video.
According to the Southern California Timing Association website, which hosts the event, the weather was good and there was no wind on November 10, so it isn't clear what may have caused the crash. Despite the car being destroyed (including the entire front end being sheared off), Gillespie suffered only "minor injuries" and is recovering. The SCTA site does state that Gillespie managed to crack the 200-mile-per-hour mark in a previous run with a top speed of 200.9 mph, so congratulations to him on that! Scroll down to watch the horrifying crash.