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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.

Future Classics, Acura Integra Type S and Cadillac Escalade-V | Autoblog Podcast #759

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd. They jump right in with some news that Toyota may revive the Land Cruiser in the U.S., followed by rumors of a Nissan GT-R successor. From there, it's on to official confirmation of the Acura Integra Type S revival, followed by a partial rundown of Hagerty's 2023 Bull Market List. After that, it's time for some road test updates. Greg talks about his time in Autoblog's long-term BMW 330e PHEV and contrasts it with the 2023 Cadillac Escalade-V. Byron has been driving a Nissan Rogue, Mazda CX-30 and an Infiniti Q50 — serving as a perfect launch pad for a look back at 2022's best sport sedans. After that, it's a preview of Autoblog's 2022 Holiday Gift Guide.  Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #759 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Return of the Land Cruiser? Nissan's GT-R successor Acura Integra Type S confirmed Hagerty's 2023 Bull Market List What we've been driving 2022 BMW 330e long-term update 2023 Cadillac Escalade V-Series 2023 Infiniti Q50 2023 Mazda CX-30 Best sport sedans for 2023 Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Podcasts Acura BMW Cadillac Infiniti Mazda Nissan Toyota Long-Term Garage

Ferrari SUV and Aston Martin in Formula E? | Autoblog Podcast #529

This week, Editor-in-Chief Greg Migliore is joined by Green Editor John Beltz Snyder. They discuss Ferrari's SUV plans as well as Aston Martin's Formula E consideration. They also talk about cars we've driven including the Chevy Colorado ZR2, a Nissan Rogue ProPilot prototype and a Ford Shelby GT350. This week's podcast also features a car you don't need a license to drive. Autoblog Podcast #529 Your browser does not support the audio element. Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Ferrari SUV FCA keeping Jeep Aston Martin mulls Formula E Cars in the office: Ford Shelby GT350, Chevrolet Colorado ZR2, Nissan Rogue with ProPilot Assist The List: Drive a car that requires no license 3 Big Questions: Ferrari SUV or Lamborghini SUV? Chevy Colorado ZR2 or Toyota Tacoma TRD Pro? Ford Shelby GT350 with or without Performance Package? Spend my money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Green Podcasts Aston Martin Chevrolet Ferrari Ford Jeep Lamborghini Nissan SUV Electric Performance Videos Formula E shelby nissan propilot