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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.

Nissan ZEOD RC finds nothing but trouble at 2014 Le Mans

Audi came away a big winner at this year's Le Mans competition, but Nissan has at least one thing to celebrate. The Pyrrhic victory apparently presages Nissan giving up on the gas-electric race car for Le Mans 2015. Before the race this weekend, the prototype ZEOD RC hybrid race car was doing quite well. In fact, given the way things turned out, Nissan's keen to mention that team engineers managed to get the car to complete a lap on electric power and hit a target speed of 300 kilometers per hour (186 miles per hour) on the Mulsanne Straight during testing. ZEOD RC stands for Zero Emission On Demand Racing Car. "The race was obviously very disappointing" – Wolfgang Reip Things didn't go so well once the real race started. The problem for the Deltawing-esque prototype – which is powered by a 1.5-liter gas ending putting out 400 horsepower and a pair of 110-kW electric motors – was that something broke in the transmission after just 23 minutes and five laps. Driver Wolfgang Reip put his best spin on the hybrid's collapse: "The race was obviously very disappointing but having got a taste of Le Mans now, I can't wait to get back." If Reip does return with Nissan, it will likely be in a more traditional Le Mons racer. The ZEOD RC was part of the LM P2 class, but Nissan says that, "For Le Mans 2015, Nissan will return to the LM P1 class." You can watch the full warm-up electric lap in a video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Nissan ZEOD RC heroic electric lap followed by heartbreak Amazing morning warm-up result after all-nighter by crew "New tech" car halted by "old tech" issue Nissan breaks new ground in electric vehicles LE MANS, France – Nissan's assault on the Le Mans 24 Hours may have ended early, but the revolutionary Nissan ZEOD RC electric prototype still leaves Le Mans having reached its historic goals of hitting 300 km/h on the Mulsanne Straight and recording a complete lap of Le Mans on electric power only. The unique prototype – which features both internal combustion and electric power sources – reached its first target during Thursday night qualifying when Satoshi Motoyama exceeded 300 km/h before the first chicane on the Mulsanne Straight. Nissan's other key goal was to complete an entire 8.5-mile lap of Le Mans on pure electric power. GT Academy winner Wolfgang Reip was at the wheel when the team achieved this goal during the morning warm-up.

Nissan Frontier and a mid-engine Mustang | Autoblog Podcast #622

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale and Associate Editor Byron Hurd. They discuss news about the 2020 and 2021 Nissan Frontier, as well as a mystery Mustang and classic luxury coupes. After that, they talk about cars from the fleet including Chevy Silverados and the long-term Volvo S60 T8. Autoblog Podcast #622 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 2020 and 2021 Nissan Frontier updates 1966 mid-engine Mustang prototype Personal luxury coupes Cars we're driving 2020 Chevy Silverado 1500 Trail Boss 2020 Chevy Silverado 2500 HD 2020 Volvo S60 T8 plug-in hybrid Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: