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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 withdraws LMP2 prototype from Pikes Peak

Things don't always go as planned, especially when it comes to racing. That's the lesson that Honda had to learn the hard way at Pikes Peak this year. Unfortunately that means that the ARX-04b LMP2 prototype won't be running up the mountain in this weekend's Race to the Clouds. Honda was slated to run its new LMP2 prototype at Pikes Peak, but a series of misfortunes meant that the entry had to be withdrawn. The prototype was set back with a series of mechanical difficulties, chief among them a turbocharger failure that inflicted damage on the vehicle's engine. That left Honda with little choice but to withdraw the entry. "We some had some problems that forced us to miss practice on Tuesday and Wednesday," Honda spokesman Eric Mauk confirmed in correspondence with Autoblog. Given that Justin Wilson – despite his extensive experience particularly in open wheels – is considered a rookie at this event, "race rules state that he must practice all three sections of the race course before the race. With just two days of practice left (you can only practice one section a day due to time constraints), we could not do that, so we had to withdraw." It's an unfortunate turn of events for Honda and Wilson, to be sure, but the manufacturer will still be entering a number of other vehicles at Pikes Peak this weekend. Included among them are the electric CR-Z prototype, and the NSX that is serving as pace car for the event. All told, Honda is fielding 13 entries in 11 different classes.

Honda Vision XS-1 Concept looks like a sportier Vezel [w/video]

We've talked a lot about the Honda Vezel over the past few months, as the Autoblog staff is looking forward to the Fit-based CUV. It's a handsome little vehicle, that we think will do quite well when it finally arrives in the US market. That said, it's not a particularly exciting vehicle to look at.
Along with the appearance of the Mugen-tuned Vezel at the Tokyo Auto Salon, though, a new concept that's being shown by Honda today at India's Delhi Auto Expo has us hopeful for a Vezel that looks a bit more assertive. It's called the Vision XS-1 Concept, and it's a seven-passenger (yes, seven) crossover that features minivan-style sliding doors. It sports Honda's "Exciting H Design," which is the same design philosophy used by the stylists that penned the new Fit. Unfortunately, at the moment, Honda has provided exactly zero details about what powers its new concept.
As a concept for the Indian market, which is home to some of the tightest, most congested roads on the planet, the stylish XS-1 is meant to demonstrate that Honda knows a thing or six about building compact vehicles. In that regard, we think it's a spot-on piece of work. Let us know what you think of it in Comments, but first, have a look up top for a gallery of images and then scroll down for a brief video and the official press release from Honda.