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U.S. auto sales fall in July, as Detroit dials back on inventory, rental sales

DETROIT — U.S. carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets in July as General Motors, Ford and Fiat Chrysler Automobiles struggled to curb a slide in retail sales. July is on track to be the fifth straight month in which the annual pace of car and light truck sales declined from the same month a year ago, in part because of fewer fleet sales, analysts and industry executives said. July 2016 sales hit a strong 17.9-million-vehicle pace. GM said the seasonally adjusted annual sales rate fell to an estimated 16.9 million vehicles in July. At midmorning on Tuesday, GM shares were down 3.4 percent at $34.77, Ford was down 2.8 percent at $10.91, and Fiat Chrysler shares were down 0.3 percent at $12.05 in New York. GM sales dropped 15 percent from a year ago to 226,107 vehicles, as the company cut rental fleet sales more than 80 percent. The automaker said inventories of unsold vehicles at month's end were 104 days, down from 105 days at the end of June. GM has promised investors to reduce inventories to 70 days by year-end. Ford said its July sales dipped 7.5 percent to 200,212 vehicles, as it cut fleet sales more than 26 percent. Inventories fell to 77 days from 79 the previous month. Fiat Chrysler said sales dropped 10 percent to 161,477, as it also cut back sales to daily rental fleets. Among the top Japanese companies, only Toyota reported a year-to-year gain, with sales up 4 percent to 222,057 — just 4,000 units behind GM. Honda sales were down 1 percent to 150,980 — its first-quarter sales continuing to decline in North America but seeing a big increase in China. And Nissan sales fell 3 percent to 128,295. GM, Ford and Fiat Chrysler have cautioned that second-half financial results likely will be lower than first-half results, in part reflecting production cuts in North America and pricing pressures. The automakers this year have been deliberately dialing back sales to rental-car companies, which often generate little to no profit, while struggling to keep retail sales from sagging further, according to industry analysts. Industry consultant LMC cut its full-year forecast for new vehicle sales to 17 million vehicles. Automakers sold a record 17.55 million vehicles in the United States in 2016.

US-built Infiniti Q50 engines to go into Euro-only cars

Back in March, Infiniti announced that it would be adding a 2.0-liter, turbocharged four-cylinder to its Q50 line for European and Chinese buyers. Now, we know where that engine will be built.
Nissan's Decherd, TN facility will receive the $319-million investment, which will see a separate, dedicated line for the Infiniti engines. According to Automotive News, this is more than a line running alongside the Nissan operations - the Infiniti facility will sport its own unique architecture and interior lighting, in a bid to distinguish the premium line from its mass-market parent company.
The logistics of all this do seem, on the surface, quite screwy. Building a new engine on one continent for a car built on another that will eventually go on sale on a third doesn't seem too bright, although there is a catch here. The new engine will also find its way into the Mercedes-Benz C-Class, which will kick off production in Vance, AL later this year.

Hyundai plots a Nissan Juke fighter

A few years ago, Hyundai Motor America CEO Dave Zuchowski suggested interest in taking on the Nissan Juke with a subcompact crossover. It looks like that project is coming together, as we caught Hyundai testing a small, curiously-styled SUV in Germany recently. The SUV is expected to share a lot of the same chassis components as the i20, a hatchback that's sold in other parts of the world, with the same engine lineup as the new i30, another hatchback that Hyundai doesn't sell in the America. In the United Kingdom, the i30 is available with engines including a 1.4-liter gasoline and a 1.6-liter diesel unit. Front-wheel drive would be standard with all-wheel drive an option. The heavily-camouflaged prototype doesn't give away a lot of the SUV's design. The front of the vehicle is hidden away, but what we can see the grille features hexagonal shapes instead of the horizontal bars that we've become accustomed to seeing in Hyundais. The headlights mimic the Jeep Cherokee's design with thin slits on top and larger, round units toward the bottom. At the back, camouflage hides the majority of the prototype, but the taillights appear to be different than the rest of Hyundai's offerings. The outline of the taillights resembles the same units found on the Intrado Concept, indicating the vehicle will get some design cues from the hydrogen-powered prototype. A single exhaust outlet protrudes underneath the rear end. The overall profile of the SUV appears to be smaller than the Tucson, which is currently Hyundai's smallest crossover in the US. Related Video: Featured Gallery Hyundai SUV Spy Shots View 10 Photos Image Credit: CarPix Design/Style Spy Photos Hyundai Nissan Crossover SUV Future Vehicles