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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.

Drifting on a frozen lake with a studded Lexus looks like fun

Sometimes you come across a list of ingredients and you don't even need to know what's being made, you just know you need to be there when it's done. So if you saw a recipe for a Vimeo video that was one snow-covered frozen lake, one Lexus IS, four studded tires, two ice fisherman and one guy lounging on a couch, do you think you'd have any questions?
We didn't. The dish was cooked up by the Wide Open Drift Team and KSP Productions, and it's exactly what you'd think it is. Right down to the guy on the couch. We're glad we got to partake, and you can too in the video below.

Lexus LFA art car is here to celebrate 10 years of Toyota performance

The Lexus LFA hasn't been in production since 2012, but there are still a few sitting on dealer lots. It's a shame, as Lexus' super GT is a pretty phenomenal machine. Lexus seems to think so too, as it's still doing a bit to promote the car and its relevance to the F performance sub-brand. In order to celebrate 10 years of F and the RC F GT3's debut at the 24 Hours of Spa, Lexus revealed a new LFA art car. Like the BMW art cars, the LFA is used as a canvas by a professional artist, in this case Portugal's Pedro Henriques. The car features a black and white paint scheme, with flowing lines and strips along the bodywork. The car itself features a fixed rear wing and a screaming 553-horsepower naturally aspirated V10. While the LFA won't race, it will join the RC F GT3 on track this weekend as a parade car. Related Video: Featured Gallery Lexus LFA Art Car News Source: Toyota Australia Design/Style Motorsports Lexus Coupe Luxury Performance Supercars lexus lfa lexus rc f