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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.

Renault wants to merge with Nissan, then go after Fiat Chrysler

The late Sergio Marchionne used to say consolidation would be the only way to compete against the biggest global carmakers. The company looks certain to fulfill that goal, but perhaps not in the way he intended. The Financial Times reports that Renault wants to begin merger talks with Nissan in the next 12 months. Assuming a merger gets completed, the plan is for the combined company to then pursue another merger, with Fiat Chrysler a prime target. Renault, Nissan, and Mitsubishi have been busy since cutting ties with ex-alliance boss Carlos Ghosn. They formed a new alliance board with Renault chairman Jean-Dominique Senard at the helm, Renault has shrunk the size of its board while Nissan added more outside directors, and the two agreed to a new governance structure to ease operational decision making. All three automakers have walked away from Ghosn-era goals to sell 14 million cars and find 10 billion euros in savings by 2022. New strategic plans for all three car companies are in the works. With stability in sight, it's said Senard wants to succeed where Ghosn failed — a full-fledged merger between Renault and Nissan with talks to begin "as soon as possible." Ghosn's pursuit of a merger last year in attempt to make the 20-year-old alliance "irreversible" is part of what led to his downfall, with Nissan executives including CEO Hiroto Saikawa against the push. The new effort is presented as larger scale being the only way for the alliance to take on companies like Volkswagen and Toyota. But the Nissan-Renault-Mitsubishi trio sold 10.76 million cars around the world last year, second to Volkswagen with 10.83 million sales, ahead of Toyota with 10.39 million. If Nissan hadn't suffered a 2.8 percent dip in sales, the alliance would have taken the top spot. If a little scale is good that means more is better, right? Pulling Fiat Chrysler into the alliance would add around 5 million annual sales, and would be another move in Ghosn's footsteps. The former honcho is said to have "held talks with FCA" about some kind of union within the past three years. The French government, which has a 15 percent stake in Renault and double voting rights, shut down the initiative. It's not clear if FCA will be an independent company by the time a potential Nissan-Renault merger closed, though.

Nissan starts building e-NV200 in Spain [w/video]

It doesn't look all that much like a Nissan Leaf, but the new e-NV200 that started production in Barcelona, Spain today shares its powertrain and lithium-ion battery with the world's most popular electric vehicle. The production version of the electric cargo van was unveiled late last year and today's manufacturing start is right on time with the company's previously announced timeline. The first exports will take place in June. The e-NV200 is Nissan's second all-electric vehicle, and the company says that powertrain line-up is "expanding." The vehicle itself will be available in a number of configurations in Europe: a light commercial van, a passenger vehicle and and electric taxi. Nissan has said in the past it is working on installing a fast-charging network of CHAdeMO stations in Barcelona, where the e-NV200 will be used as a cab. The e-NV200 will also be used as an electric taxi in Amsterdam. The zero-tailpipe-emission van is also being tested in Washington, DC with FedEx, but there is no confirmation that it will ever be commercially available in the US. There are a few more details, and a video, on the e-NV200 production start below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. NISSAN'S SECOND 100% ELECTRIC VEHICLE, THE e-NV200, STARTS GLOBAL PRODUCTION IN BARCELONA 05/05/14 Nissan e-NV200 is the second model in Nissan's expanding range of electric vehicles Barcelona plant starts production of Nissan's first electric van as part of ˆ431 million investment New electric van provides a zero-emission solution for urban cargo delivery and taxi companies Barcelona is the only Nissan plant to produce the e-NV200, which will be exported globally e-NV200 shares drivetrain technology with the world's best-selling electric vehicle - the Nissan LEAF BARCELONA – Nissan has started the production of its second all-electric vehicle, the e-NV200, which will soon be available in Europe as both a passenger vehicle and light commercial van. The ceremony was attended by Spanish Ministry of Industry, Jose Manuel Soria, Catalan President, Artur Mas; and the Mayor of Barcelona, Xavier Trias, who were welcomed by Nissan's Chief Planning Officer, Andy Palmer. The Nissan plant in Barcelona will be the global production site for this ground breaking zero-emission vehicle, which will be available as a light commercial van, passenger vehicle and electric taxi in the European market.