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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.

2024 Infiniti Q50 prices up $475, start at $44,200

The Infiniti Q50, like some small geologic formation, carries its graceful, aged sculpture into 2024 fearless and unchanged. Whereas in 2023 Infiniti added a new interior color, included Infiniti Premium Care, and increased prices, 2024 only sees higher prices. MSRPs are up $400 and the destination charge rises $75 to $1,150, for an additional premium of $475. Starting sums including destination are:  Q50 Luxe: $44,200  Q50 Sensory: $49,900 Q50 Red Sport 400: $58,050  Every Q50 is powered by a twin-turbo 3.0-liter V6, the Luxe and Sensory trims making 300 horsepower and 295 pound-feet of torque, the Red Sport 400 making the eponymous 400 hp and 350 lb-ft. As standard, all send their power to the rear axle through a seven-speed automatic. Sending power to the front axle adds $2,000.  The Black Opal Edition Package that we expected to be of limited supply returns for 2024. Its black opal iridescent paint job shifts from black to blue to green to purple depending on the light and viewing angle. The paint is matched with satin black badging and an exposed carbon fiber trunk spoiler, adding $2,200 to the price of the sole trim it's available on, the Q50 Red Sport 400. The package traces its lineage to the legendary iridescent Midnight Purple II, a color introduced on the R34 Nissan Skyline GT-R in 1998, and counts recent reboots elsewhere in the Nissan range with the 2014 GT-R with a Midnight Opal paint job and the 2022 GT-R T-spec in Midnight Purple.    It's understandable that a brand built on premium and sporty offerings doesn't want to give up its last unabashedly sporty offering, but this seems like a natural time to again wonder what is the endgame for the Q50, the final car in Infiniti's U.S. lineup. Automotive News reported over the summer that Infiniti showed its U.S. dealers a fastback sedan called a "striking evolution" of the Q70 boasting a longer wheelbase and shorter overhangs, a full-width headlight and taillight, and a "sporty and Porsche-like" rear end. That's anticipated in 2026. Maybe then the Q50 will be allowed to go off somewhere and rest.

Cadillac CT6 ushers in new naming convention

Johan de Nysschen has been at his new post as president of Cadillac for not even three months , but he's already seen two of his most notable accomplishments from his two-year tenure as president of Infiniti matched by Cadillac. The brand has announced that it is relocating its headquarters, and is now officially changing its nomenclature.
The brand's new flagship model will abandon the familiar three-letter designation enjoyed by every other model in the range (aside from the Escalade), and adopt an alpha-numeric title. So, rather than the expected title of LTS, Cadillac's top-end car will be called the CT6.
Of course, this won't be limited to just one model. According to Cadillac's press release, "familiar lettering like 'CT' would be used for car models, with the number indicating the relative size and position of the cars in the hierarchy of Cadillac models." And yes, that means what you think it means - Cadillac will use the exact same naming formula, albeit with different letters, as Infiniti.