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Trucks, SUVs drive U.S. October new vehicle sales

DETROIT — Major automakers posted mixed U.S. new vehicle sales in October on Wednesday, though America's love affair with high-margin pickup trucks and SUVs remained in full bloom as larger, pricier vehicles fared better than passenger cars. Auto industry publication WardsAuto put the seasonally-adjusted annualized rate (SAAR) for light vehicle sales in October at a robust level of 18 million units. But after a long boom cycle, carmakers are still ill-prepared for the slight decline in sales anticipated for full-year 2017 and have taken too few steps to trim production, said Doug Mehl, a partner in consultancy A.T. Kearney's automotive practice. "When you make a new vehicle, you have volume assumptions tagged to it, and who wants to be the guy who says, 'I'm going to make less of this really cool model'?" Mehl said. "But eventually the market is the reality, and it's going to force companies one way or other here." General Motors GM reported a sales drop of 2.2 percent for the month, with consumer sales down 6.6 percent. But sales of high-margin pickup trucks, sport utility vehicles and crossovers all rose. GM also cut its inventory of unsold vehicles — a source of concern for the market — slightly. The automaker has worked to reduce its volume of excess inventory, including through significant production shutdowns in the third quarter. GM had said its inventory would rise in October. "We are heading into the fourth quarter with good momentum, thanks to a strong U.S. economy and very strong pickup and crossover sales," said Kurt McNeil, GM vice president for U.S. sales operations. GM slightly reduced consumer discounts as a percentage of average transaction prices to 13.5 percent, from 13.7 percent in the third quarter. Industry experts believe consumer discounts above 10 percent of the average transaction price are unhealthy as they erode resale values and are unsustainable in the long term. Consultants J.D. Power and LMC said last week that based on preliminary October sales numbers, discounts have exceeded 10 percent in 15 of the past 16 months. Ford The U.S. auto industry posted record sales of 17.55 million vehicles in 2016. New sales received a strong boost in September as consumers replaced vehicles damaged in southeast Texas by Hurricane Harvey the previous month. Full-year 2017 sales are expected to be slightly lower than 2016.

Fernando Alonso tries out fast motorcycles and Senna's McLaren

Honda closed out its racing year yesterday with its annual Thanks Day at Motegi. The event brought out an array of competition machinery and the drivers and riders who race them. That included Fernando Alonso, but rather than bring his Honda-powered McLaren, the two-time world champ took the opportunity to try out some different equipment. While MotoGP rider Marc Marquez slipped behind the wheel of the NSX Concept GT, his countryman Alonso hopped on his RC213V motorcycle for a couple of laps. Fernando isn't the first racer to swap between F1 and motorcycles: Michael Schumacher tried his hand and motorcycle racing from time to time, Valentino Rossi tested Ferrari grand prix cars on numerous occasions, and of course John Surtees won championships in both spheres – but he remains the only one to have done so. Fernando also had the chance to drive a McLaren-Honda MP4/6, just like the one with which Ayrton Senna successfully defended his title in the 1991 Formula One World Championship. That was the first time McLaren ran a Honda V12, but the last time a V12 – or a manual transmission – won the championship. After the following season, Honda and McLaren parted ways – only to be reunited this year with Alonso and Button behind the wheel. While Alonso was toying around with Senna's car, Takuma Sato – who drove Hondas in Formula One and now in Indy – tried his hand at the 1968 Honda RA301. That machine was also powered by a Honda V12, but at 440 horsepower, was far less potent than the 735+hp version that would later power Senna's. John Surtees drove one just like this in the '68 world championship, retiring from most of the races on the calendar but scoring two podiums from the three that he did finish. Marquez and his teammate Dani Pedrosa also competed in the CBR250 spec race, rode the mid-80s-era NSR500 bikes. They drove in four-wheel spec race as well in modified Honda N-One kei cars. The event served to cap a full year of racing for the Japanese automaker, which competes in a range of racing disciplines including F1, Indy, Super GT, the World Touring Car Championship, and numerous classes of motorcycle racing. Featured Gallery Fernando Alonso at Honda Thanks Day 2015 View 11 Photos News Source: Honda via Autosport Motorsports Honda motogp

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.