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GM and Ford quarterly sales continue to slump in China

BEIJING — General Motors and Ford announced their quarterly sales in China fell, albeit at a slower pace sequentially, as the U.S. automakers were hit by a slowing economy amid the Sino-U.S. trade war. GM's vehicle sales in China for the quarter ended June 30 dropped 12.2%, while Ford's sales slumped by 21.7%. While GM also suffered from heightened competition in its key mid-priced SUV segment, Ford was hurt by the limited new models for customers to choose from. For the first quarter of this year, Ford's sales in China tumbled 35.8 percent while GM's skid 17.5 percent. Still, the numbers from GM, the second biggest international automaker in China by sales, and Ford portend more uncertainty for the industry which is trying to rebound from a downward spiral that led to its first annual sales decline last year in more than two decades. GM delivered 1.57 million vehicles in China in the January-June period this year, while Ford delivered 290,321 vehicles. China's factory activity shrank more than expected in June, highlighting the need for more economic stimulus amid higher U.S. tariffs and weaker domestic demand. Annual car sales in China fell last year for the first time since the 1990s, and they are expected to fall this year too. Sales tumbled 16.4% in May from the same month a year prior, the China Association of Automobile Manufacturers (CAAM) said. That marked the 11th consecutive month of decline and followed falls of 14.6% in April and 5.2% in March. U.S. car companies' share of total China passenger vehicles sales fell to 9.6% in the first five months of this year from 10.9% in the year-ago period, according to CAAM. Over the same period, German car makers' share has risen to 23.3% from 20.9% and Japanese auto makers' to 21.3% from 17.3%. CAAM is set to announce June sales next week, which industry analysts forecast will be negative.   New models In China, GM has a joint venture with SAIC Motor Corp, in which the Buick, Chevrolet and Cadillac are made. It also has another venture, with SAIC and GuangxiAutomobile Group, in which they make no-frills minivans and have started to make higher-end cars. Sales of GM's affordable brand Baojun dropped 31.8% for the latest quarter. But luxury brand Cadillac's sales jumped 36.6%. GM sold 3.64 million units in China last year, down from 4.04 units in 2017. Ford makes cars in China through its joint venture with Chongqing Changan Automobile Co and Jiangling Motors Corp (JMC).

Ford rakes in record $2.5b profit during Q1 of 2016

Fears that the auto industry is due for a downturn may be fading. Ford posted record profits in the first quarter of 2016, the company announced Thursday. Chief financial officer Bob Shanks said Ford enjoyed its best quarterly performance in history, generating operating profits of $3.8 billion and a record profit margin of 9.8 percent. Overall, the company's $2.5 billion profit in the quarter more than doubled from the 2015 quarterly results. "The first quarter was an absolutely terrific start to the year, an all-time record for the company, with very strong performance across the business," said chief executive officer Mark Fields. "We're excited about our future and confident in our ability to deliver long-term growth and profitability as we expand our business model to be both an auto and a mobility company." During the quarter, Ford announced the creation of Ford Smart Mobility, a new subsidiary that would vet future mobility projects in the realm of car-sharing, fractional ownership and autonomous deployment. The company also kicked off a billion-dollar makeover of its Dearborn, Michigan campus and headquarters. The company's after-tax earnings of $0.68 per share trumped Wall Street's expectations, and were significantly up from $0.39 per share a year ago. The results were buoyed by the company's fourth consecutive quarter of growth in Europe, which comes after a long period of stagnant sales. Ford's earnings results come amid reports that April car sales are on pace to jump 4 percent year over year, which would make it the best-selling April in history. Kelley Blue Book projects that car sales will reach 1.51 million this month, placing the industry on track for 17.5 million vehicles sold in 2016. Even as SUV and crossover sales drive the market, analysts say Nissan and Honda are positioned to benefit from renewed interest in mid-size cars. "Following a disappointing March, we expect sales to get back on track in April with SAAR in the mid-17 million range," said Tim Fleming, analyst for Kelley Blue Book. "Increased fleet sales and rising incentive spending among automakers remain the factors to watch, but the retail demand appears to be holding steady, signaling the industry's strong run isn't over quite yet." Related Video: Image Credit: Getty Earnings/Financials Ford Lincoln 5g Connectivity mobility auto industry financial

2020 Lincoln Aviator crossover is a hot rod with 400 horsepower standard

LOS ANGELES — The 2020 Lincoln Aviator has finally been revealed in production form following its "concept" debut at the New York Auto Show earlier this year. We add the quotes because the production model is identical to the New York model. Appearances aside, the big news is under the hood. At launch, the Lincoln Aviator will be available with two engines. They're both twin-turbocharged 3.0-liter V6s, and one of them is a plug-in hybrid. The standard engine makes an impressive 400 horsepower and 400 pound-feet of torque. To help put that into perspective, that's about 40 more horsepower than the top-rung six-cylinder Mercedes-Benz GLE 450 we just drove, and about 65 more horsepower than the entry-level six-cylinder BMW X5 xDrive40i. Moving to the hybrid powertrain brings Aviator output to 450 horsepower and a staggering 600 pound-feet of torque. That's just 6 ponies shy of the V8-powered BMW X5 xDrive50i, but 121 more pound-feet of torque. This plug-in hybrid powertrain will also be able to do the typical plug-in stuff. You can run the vehicle in pure electric mode or hold the charge to be deployed at a more advantageous time such as driving in town at the end of a highway drive. Lincoln did not give estimates for the pure electric range. Fuel economy hasn't been revealed yet, either. Other interesting hybrid notes: The battery fits entirely under the passenger side of the vehicle between the front and rear wheels. The motor is sandwiched between the engine and transmission. Lincoln also mentioned this is a modular hybrid system, so expect to see it appear in other Lincoln and Ford products in the future. This powertrain layout is part of what makes it possible for all versions of the Aviator to use the same 10-speed automatic transmission, which is gradually proliferating through the whole Ford family. From there, power either goes solely to the rear wheels, or through an optional all-wheel-drive system. All of this power can ride on an available adaptive air suspension the company calls Air Glide. It works like many adaptive suspensions, scanning the road with a camera to adjust damping for bumps ahead. It does have some other trick features, though. When the Aviator is parked, the suspension lowers to make the crossover look more attractive while sitting. And when the driver approaches, it lowers itself further for easier ingress. It also raises itself for snow or mild off-road driving, and it lowers down at highway speeds for better aerodynamics.