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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.

2023 Honda Pilot and the promise and pitfalls of PHEVs | Autoblog Podcast #766

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd for a chat about the new 2023 Honda Pilot and its beefed-up TrailSport model. After that, we get a winter-weather long-term update on the BMW 330e care of Greg. Then, it's on to news. The big headlines this week were the brand-new Mazda CX-90 crossover and word that Genesis plans to build its outrageous (and expensive) X convertible concept. Is the world ready for a Bentley fighter from Korea? Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #766 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2023 Honda Pilot 2022 BMW 330e xDrive  News 2024 Mazda CX-90 three-row SUV revealed, with your choice of inline-6 or PHEV The ravishing Genesis X Convertible Concept is going into production Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Zipcar, Honda announce OneWay carsharing with 2015 Fit

Zipcar has been around for over a dozen years, and now shares more than 10,000 cars on a short-term basis with 850,000 members around the world. But there's been one thing missing from the carsharing giant's quiver of options: the one-way rental. That changes today. For a select few in Boston, anyway. OneWay's Boston launch is so soft that Zipcar says it's not even sure how much it will charge. Zipcar has announced a new one-way carsharing option called (annoyingly) ONE>WAY. This new program soft launches in Boston today, and it's so soft that Zipcar says it's not even sure how much it will charge drivers who use the new service. What we do know is that OneWay exclusively uses the 2015 Honda Fit and will allow drivers to rent by the half hour as they pick up and drop off in two different locations. The standard Zipcar model requires the cars to be brought back to the original location and has a one-hour minimum. At least one membership fee will cover both standard Zipcar and Zipcar OneWay. The introduction of shorter-term, one-way rental may sound a bit like Car2go, the successful carsharing program started by Daimler. Zipcar representatives told AutoblogGreen that it did develop OneWay in response to member demand and that there are two main differences between the two carsharing services. First, since OneWay still uses the traditional reserved-for-Zipcar parking spot method (new ones will be established for OneWay), there will always be a guaranteed space when you arrive at your destination. Second, the Fit has a lot roomier than the Smart ForTwo used by Car2go. To see this point in action, check out the four happy hipsters in Zipcar's new ad for OneWay below. There are currently other Fits in Zipcar fleets in other cities, but the specially branded vehicles in the Boston trial program will need to be used with the OneWay vehicles. That means, for now at least, that users will specify a pick-up and drop-off location before renting the vehicle, said Kaye Ceille, the president of Zipcar. The 30-minute minimum might also someday be changed, depending on user feedback. There's a lot up in the air right now, but Zipcar did say that despite the fact that OneWay is intended for short trips and has reserved parking, the Fit EV will not be involved. That car simply doesn't offer the cargo flexibility that the standard Fit does and some of the reserved parking spots will be on the street, where putting in a charging station isn't feasible.