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Lexus RC F GT3 will compete in IMSA SportsCar Championship

Lexus will field its new RC F GT3 in the GT Daytona class of the IMSA SportsCar Championship. GTD is the lowest of the four classes of which the series is comprised, equivalent to the FIA's GT3 class. The team is owned by Trans-Am champion Paul Gentilozzi and his partners, and it's based out of East Lansing, MI. It will contest only a handful of races this season, though the schedule was not announced. The plan is to expand into a "multi-car effort" for 2017. Driving duties will be shared by the previously announced Scott Pruett and the newly signed Sage Karam. Both drivers were recently released from their contracts with Chip Ganassi Racing, for which Pruett drove in NASCAR and Karam in the IndyCar Series. He won the Indy Lights title in 2013 and impressed with a third-place finish last year in Iowa. This year's IMSA SportsCar calendar kicked off this weekend at Daytona, and will head next to Sebring in mid-March, Long Beach in mid-April, Laguna Seca in early May, and Detroit in early June. July will see races at Watkins Glen, Mosport, and Lime Rock, followed by rounds at Road America and VIR in August. The seasons concludes at Austin in September and Road Atlanta at the beginning of October. LEXUS TO COMPETE IN IMSA WEATHERTECH SPORTSCAR CHAMPIONSHIP AND F PERFORMANCE RACING ANNOUNCES SAGE KARAM AS DRIVER TORRANCE, Calif., Jan. 29, 2016 -- Lexus and their F Performance Racing group have reached an agreement with the International Motor Sports Association to campaign the RC F GT3 in the IMSA Weather Tech SportsCar Championship. The agreement gives the Japanese Luxury automaker a presence in the GT Daytona (GTD) class race series through the 2018 season. "We are excited to reach this agreement with IMSA to campaign the RC F GT3 at such a high level. Our hope is to build a strong foundation for the new F Performance Racing organization during 2016 season, seizing the opportunity to develop the team and the race vehicle in anticipation of the multi-car effort during the 2017 season," said Jeff Bracken Group Vice President and General Manager, Lexus division. Additionally, F Performance Racing also announced that Sage Karam will join veteran racer Scott Pruett as drivers for F Performance Racing when the East Lansing, Michigan-based team campaigns the Lexus RC F GT3 for a limited schedule in the 2016 WeatherTech SportsCar Championship. "We have had our eye on Sage for some time," said Paul Gentilozzi, Managing Partner of F Performance Racing.

The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

Growing demand could bring more body-on-frame off-roaders to the Lexus range

Car-based crossovers are outselling truck-derived SUVs by a wide margin, but Lexus still sees a strong demand for models that offer true off-road capability. It hinted that it could soon increase its presence in this segment. Toyota's luxury division entered 2021 with two body-on-frame SUVs in its range: the Land Cruiser-based LX (pictured) and the smaller, more affordable GX. Neither is a high-volume model, but both fared shockingly well in 2020. LX sales in the United States fell by 4.4% to 4,512 units, which is a great result in a year when double-digit declines were common, and GX sales increased by 9.9% to 28,519 units. Clearly, off-roaders are in demand. "What we have seen at Toyota is that there's so much of an appetite for [off-roading] that I see that [moving into] the Lexus brand as well. There is an appetite, a customer desire, a customer push to see all brands giving them more options. I think it would be silly for Lexus not to travel down that path," explained Jack Hollis, the head of automotive operations for Toyota's North American division, in an interview with Automotive News. He added that his team has identified a "white space" in the Lexus range that could be filled with an additional body-on-frame off-roader. He didn't reveal precisely what he has in mind, but there are a few possibilities we can rule out. We know Toyota is wrapping up the development of the next-generation Land Cruiser, even if the SUV might not be sold in America, and seeing a next-generation LX seems like a given, but we don't think that's what Hollis was referring to. Moving into the space above the LX with an even bigger truck is highly unlikely. Similarly, the idea of a Lexus-badged SUV aimed at the Jeep Wrangler and the Ford Bronco is neat but unrealistic. Ford's hotly-anticipated born-again off-roader has captured the attention of executives, however. "Holy cow! They sold out that thing, and I think there's a strong market out there for authentic off-road chops and credibility. We're seeing that with [the Toyota] 4Runner as well. I don't think it's any secret that [the 4Runner] is not all that new, but it continues to set records, and it continues to grow volume," pointed out Lexus brand head Andrew Gilleland in a separate interview with Automotive News. Could we see a Lexus-specific version of the 4Runner? We certainly wouldn't rule it out, especially because making an upmarket variant of the SUV would help Toyota leverage the benefits of economies of scale.