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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.

Infiniti Q60 Concept previews sexy styling, twin-turbo V6

Okay Infiniti, this was worth the waiting and teasing. Behold, the Q60 Concept, the coupe that foreshadows a future production two-door while also introducing a new family of 3.0-liter, twin-turbocharged V6 engines. It's fair to say we like it very much. Of course, this is not our first unfettered look at the Q60 Concept. Infiniti's final "teaser" image showed off the final product, but now we can analyze it from all angles, including the lovely, almost S-Class Coupe-like rear end and the clean, fashionable cabin. The Q60 Concept's design, particularly in the swoopy profile, comes across as organic and muscular, particularly in the shape of the front fenders and rear haunches. The car's dead front view reveals a few styling details that were overshadowed by the angle of the teaser image, like the interesting ridge that runs from the grille into the powerfully domed hood. A fixed glass roof gives the cabin an open-air feel, while the overall layout is largely reminiscent of the current Q50 sedan, only with cleaner, updated materials that we wouldn't bet on making production. Thin sport seats look supporting and feature quilted leather bolsters, while a two-tone steering wheel spices up the driving environment. Under the Q60 Concept's hood is the same 3.0-liter, twin-turbocharged V6 that was first shown on the Q80 Inspiration Concept from the 2014 Paris Motor Show. According to Infiniti, the direct-injected six-pot will arrive in a production car within the next two years. In the Q60, a seven-speed automatic handles power delivery, although it's unclear if a similar gearbox would be used alongside the production engine. Other notable features on this sleek two-door include Infiniti's Direct Adaptive Steering system and the new InTuition system, which promises a "fully customizable digital environment." Of course, we'll have much, much more on the Q60 Concept tomorrow, when it makes it arrives on the floor of the 2015 North American International Auto Show in Detroit. Scroll down for the full press release from Infiniti. January 11, 2015 Infiniti Q60 Concept: Fusing exhilaration and power - Infiniti's precursor to a high-performance sports coupe - Unique proposition of striking styling and high-output powertrain in a premium package - Previews new family of powerful and efficient engines Hong Kong/Detroit – Infiniti has set out to captivate the imagination and exhilaration of sports coupe fans with the stunning Q60 Concept.

Race Recap: 2015 US Grand Prix was wet, wild, and historic

Hurricane Patricia made landfall in Mexico this weekend, and made her presence known throughout the South. For two of the three days of the grand prix weekend it rained non-stop in Austin, so badly on Saturday that qualifying had to be postponed until Sunday morning, and then it only stayed dry enough to conduct the first two sessions. At the end of a tricky, slippery Q2 Nico Rosberg had put his Mercedes-AMG Petronas on the front row, one tenth ahead of teammate Lewis Hamilton. The German had done the best he could to keep his hair-thin chances of a World Championship fight alive. Daniel Ricciardo lined his Infiniti Red Bull Racing chassis in third ahead of teammate Daniil Kvyat, both drivers having moved up a place because Ferrari driver Sebastian Vettel took a ten-spot grid penalty for using a fifth engine and dropped to 13th. Continuing the two-up theme, Sergio Perez and Nico Hulkenberg were fifth and sixth for Force India. After that came variety: Felipe Massa in seventh for Williams, Max Verstappen for Toro Rosso in eighth, Fernando Alonso looking good in the rain for McLaren in ninth, and Romain Grosjean for Lotus in tenth. When the lights went out, Turn 1 set the tone. Pole position is on the outside line at Circuit of the Americas, and Hamilton had got himself far enough under Rosberg by the time the two got up the hill that Rosberg had to stick to the outside through the corner. At the corner exit Hamilton used the entire track, pushing Rosberg wide, their cars touching. As Rosberg left the track and dropped back to fourth, Hamilton radioed to the team to say the contact was unintentional. The two Mercedes' and two Red Bulls animated the front. Rosberg passed Ricciardo at the end of a Virtual Safety Car period employed to let the marshals clean the debris at Turn 1. Kvyat started chasing down Hamilton until the Russian ran wide and let Rosberg and Ricciardo through, then Rosberg ran wide on the next lap to let Ricciardo through. On Lap 15, Ricciardo passed Hamilton through the esses to take the lead. After the first round of pit stops the Aussie still had the lead, followed by Rosberg, Kvyat, Hamilton, and Vettel. Then Rosberg got around to take the lead and Vettel closed in on Hamilton as the Brit duked it out with the Russian. Rosberg showed excellent speed, building up a nine-second gap on Ricciardo, but a Safety Car period erased that when Marcus Ericsson had to park his dead Sauber on the inside of the track after Turn 10.