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Major automakers post mixed US June sales figures

General Motors, Ford and Fiat Chrysler Automobiles NV posted declines in US new vehicle sales for June on Monday, while major Japanese automakers reported stronger figures. Once again, demand for pickup trucks and crossovers offset a decline in sedan sales. Automakers' shares rose as overall industry sales still came in above Wall Street expectations. The US auto industry is bracing for a downturn after hitting a record 17.55 million new vehicles sold in 2016. Analysts had predicted that overall, US vehicle sales would fall in June for the fourth consecutive month. As the market has shown signs of cooling, automakers have hiked discounts and loosened lending terms. Car shopping website Edmunds said on Monday the average length of a car loan reached an all-time high of 69.3 months in June. "It's financially risky, leaving borrowers exposed to being upside down on their vehicles for a large chunk of their loans," said Jessica Caldwell, Edmunds' executive director of industry analysis. GM said its sales fell about 5 percent versus June 2016, but that the industry would see stronger sales in the second half of 2017 versus the first half. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." GM shares were up 2.4 percent in morning trading, while Ford rose 3.3 percent and FCA shares jumped 6 percent. "US total sales are moderating due to an industry-wide pullback in daily rental sales, but key US economic fundamentals clearly remain positive," said GM chief economist Mustafa Mohatarem. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." Ford said its sales for June were hit by lower fleet sales to rental agencies, businesses, and government entities, which fell 13.9 percent, while sales to consumers were flat. But it sold a record 406,464 SUVs in the first half of the year, with Explorer sales increasing 23 percent in June. And sales of the F-150 had their strongest June since 2001. On a media call, Ford executives said an initial read of automakers' sales figures indicated a seasonally adjusted annualized rate of around 17 million new vehicles for the month, which would be better than 16.6 million units analysts had predicted. FCA said June sales decreased 7 percent versus the same month a year earlier.

Honda ready for 'late 2016' arrival of Clarity Fuel Cell in US

Two years ago at the LA Auto Show, Honda showed off the first concept for what we now know is the Clarity fuel cell vehicle. At the time, Honda said it would arrive at some point in 2015. Since then, Honda has said simply that the Clarity would arrive some time after the March 2016 on-sale date in Japan and even gave itself an out in case the debut slipped to the first half of 2017. Yesterday, at a preview event at the Honda Advanced Design Studio in downtown LA, Honda narrowed that down a bit more to, "late 2016." Honda representatives said this was all still in line with internal targets for the US launch of the car. They already know when the car will arrive here, but are not yet able to say, since things like crash tests and other homologation issues could still change the timeline. The company is happy to see the expansion in the number of hydrogen refueling stations in California and is working a number of dealers in the Los Angeles and San Francisco Bay Area to get them ready to sell the Clarity. Everything that has happened since the company officially set its internal fuel cell clock has been going to plan, Honda representatives told AutoblogGreen. Hydrogen fuel cell vehicles from Hyundai and Toyota are available now, while those from other automakers (like BMW and Nissan) may arrive in or after 2020. Honda still won't confirm, on the record, that an all-electric model will be the third vehicle to use the platform that the Clarity and the upcoming plug-in hybrid (due in 2018) use, as we suspect. But, during a casual discussion about Honda happenings, I heard one executive say that he's busy working on the follow-up "products" that will use the platform, so this remains something to keep in mind. We recently got the chance to drive the Clarity in Japan, which you can read about here.

Acura NSX, a pair of 2 Series Gran Coupes and a time machine | Autoblog Podcast #628

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick and Road Test Editor Zac Palmer. This week, they're driving a 2020 Acura NSX, two versions of the BMW 2 Series Gran Coupe (M235i and 228i) and the updated 2020 Honda Civic Si. Then, the gang gets to talking about what they'd drive in 1975 and 1985, along with plenty of other tangents. Finally, they wrap it up with news about the upcoming 2021 Acura TLX Type S and the fate of this year's Woodward Dream Cruise. Autoblog Podcast #628 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 Cars we're driving 2020 Acura NSX 2020 BMW 2 Series Gran Coupe (M235i and 228i) 2020 Honda Civic Si Cars we'd buy if it were 1985, and 1975 2021 Acura TLX to revive Type S Is the Woodward Dream Cruise canceled? Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: