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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.

Analysts say Honda's growing woes in Europe not just the economy

There is no denying that the European auto market is taking its lumps right now - just ask Peugeot - but Honda might be taking this downturn on the chin a little harder than some of the other Japanese automakers doing business on the continent. Automotive News Europe is reporting that things have gotten so bad for Honda that it will be cutting 800 workers from Swindon, England plant that builds the CR-V, Civic and Jazz (a.k.a. Fit). This will be the first time Honda has made such cuts in more than 20 years.
Despite an increase in output last year over 2011 (165,607 units compared to 97,459), the Swindon plant is still running well below its full capacity (250,000/year), and its 66 percent capacity is less than the expected breakeven point of industry analysts (75 to 80 percent). Unlike in the US, however, Honda's new CR-V and Civic aren't selling well, and the similarly sized Nissan Qashqai is outselling the CR-V at a rate of more than five to one. Slow CR-V sales are blamed on a relatively high price and the crossover's conservative styling. On the complete opposite side of the spectrum, the report notes that Nissan continues to experience growth at its UK operations, leading analysts to suggest that Honda can't blame the sour economy for much of its woes.

Honda Baja race truck previews 2017 Ridgeline at SEMA [w/video]

Honda is heading to this year's SCORE Baja 1000 with a mean-looking, race-prepped Ridgeline Baja Race Truck in the unlimited class. The tube-framed pickup makes a grand debut at the 2015 SEMA Show, but take a good look at the styling on display here. While it's a lot more aggressive than the real thing, it previews the production model that arrives in the first half of 2016. The race truck looks seriously tough with huge fenders, chunky off-road tires, and tons of LED lighting. According to Honda, "the front fascia, hood, roof, bed, and side profile" all feature elements that are inspired by the upcoming production version. Based on the version here and earlier teases, those cues suggest a more traditional, pickup-like appearance than the previous Ridgeline. Of course, any Baja truck needs serious power, and for this Ridgeline that comes from Honda Performance Development's HR35TT racing engine. The twin-turbocharged, 3.5-liter V6 makes around 550 horsepower in this application. Look closely at the front to find a hidden hood scoop that sends cool air to a custom intake plenum. Check out the gallery above for a look at the Baja Ridgeline at the SEMA Show. The video below shows off the tube-frame chassis underneath, and offers a great look at the engine, too. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Honda Announces Return to Baja at 2015 SEMA Show, Ridgeline Baja Race Truck Hints at Styling Direction for All-New 2017 Ridgeline Pickup Nov 3, 2015 - LAS VEGAS Today at the 2015 SEMA Show, Honda revealed its Ridgeline Baja Race Truck, a purpose-built racing machine that marks Honda's return to off-road truck racing, while also providing an early glimpse at the styling direction for the all-new 2017 Honda Ridgeline pickup that will hit dealer showrooms in the first half of next year. The Honda exhibit also showcased a multifaceted display of personalized Honda cars, SUVs, powersports products and two- and four-wheeled racing machines. The Honda Ridgeline Baja Race Truck, in red, white and black Honda Racing livery, will compete in this year's running of the SCORE Baja 1000. The tube-frame unlimited class off-road truck is powered by a twin-turbocharged V6 developed by Honda's U.S.