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Major automakers post mixed US June sales figures

General Motors, Ford and Fiat Chrysler Automobiles NV posted declines in US new vehicle sales for June on Monday, while major Japanese automakers reported stronger figures. Once again, demand for pickup trucks and crossovers offset a decline in sedan sales. Automakers' shares rose as overall industry sales still came in above Wall Street expectations. The US auto industry is bracing for a downturn after hitting a record 17.55 million new vehicles sold in 2016. Analysts had predicted that overall, US vehicle sales would fall in June for the fourth consecutive month. As the market has shown signs of cooling, automakers have hiked discounts and loosened lending terms. Car shopping website Edmunds said on Monday the average length of a car loan reached an all-time high of 69.3 months in June. "It's financially risky, leaving borrowers exposed to being upside down on their vehicles for a large chunk of their loans," said Jessica Caldwell, Edmunds' executive director of industry analysis. GM said its sales fell about 5 percent versus June 2016, but that the industry would see stronger sales in the second half of 2017 versus the first half. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." GM shares were up 2.4 percent in morning trading, while Ford rose 3.3 percent and FCA shares jumped 6 percent. "US total sales are moderating due to an industry-wide pullback in daily rental sales, but key US economic fundamentals clearly remain positive," said GM chief economist Mustafa Mohatarem. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." Ford said its sales for June were hit by lower fleet sales to rental agencies, businesses, and government entities, which fell 13.9 percent, while sales to consumers were flat. But it sold a record 406,464 SUVs in the first half of the year, with Explorer sales increasing 23 percent in June. And sales of the F-150 had their strongest June since 2001. On a media call, Ford executives said an initial read of automakers' sales figures indicated a seasonally adjusted annualized rate of around 17 million new vehicles for the month, which would be better than 16.6 million units analysts had predicted. FCA said June sales decreased 7 percent versus the same month a year earlier.

Nissan Leaf hits 3,000 sales in July, Chevy Volt climbs over 2,000

It was a good sales month for both the Nissan Leaf and the Chevy Volt, with the two 'elder statesman' plug-in vehicles reaching numerical milestones in July. The Leaf sold 3,019 units and the Volt crossed the 2,000 sales level for the first time in 2014, hitting 2,020 sales. With Tesla also announcing it is delivering around 2,500 Model S EVs a month (but that's globally, compared to the US-only numbers for the Volt and Leaf we're talking about here) and Ford's plug-in vehicles selling well, we are certainly in a golden moment for EV sales. The Volt was a bright spot for the Bowtie brand last month. For the Volt, the 2,020 units sold represents a 13 percent increase from July of 2013 even thought year-to-date sales are down 8.7 percent this year compared to last year. Overall, total Chevrolet deliveries for July 2014 were up eight percent compared to 2013, so the Volt was a bright spot for the Bowtie brand last month. On the Leaf front, this is only the second time that the EV has sold more than 3,000 units in a month (the other being in May of this year). The year-over-year increase for the Leaf was 62 percent in July and represents the 17th straight month of record sales, as Nissan is more than happy to report each month. Overall, Leaf sales are up 34.6 percent, year-to-date, and Nissan's director of Leaf sales and infrastructure, Brendan Jones, said in a statement that a free public charging incentive was responsible. "Since we launched the No Charge to Charge promotion in the first 10 markets, we've seen a surge in Leaf sales in those areas. Leaf sales in the northeastern US are also picking up with new tax incentives for Massachusetts and Maryland residents." With No Charge To Charge set to expand to 25 markets over the next year, we expect Leaf sales to continue to grow. We will have our monthly look at all green car sales available soon, so stay tuned. Green Chevrolet Nissan Electric PHEV ev sales

2016 Nissan Titan XD arrives with diesel V8 power

Feels like this one's been coming soon (or is that #CumminsSoon?), forever. Over a decade since the Nissan Titan launched, the Japanese fullsize pickup has finally been given a full redesign, and it looks to be a worthy – and interesting – competitor in the light-duty pickup class. First and foremost, the truck debuting here in Detroit is the Titan XD – it's not a trim level, but a totally different version of the standard Titan, despite looking the same. The best way to explain the difference is that if the Titan competes with a Silverado 1500, the XD competes with something a step higher, but not a full 2500. Think of it as a Silverado 2000 or something – a step between light and heavy duty. Nissan truly thinks there's a white space in this pickup segment. The company isn't ready to release details on the standard Titan just yet, and the XD with the diesel engine will be the first version to come to market. The diesel in question is the long-awaited 5.0-liter V8 from Cummins, producing 310 horsepower and 555 pound-feet of torque, mated to a six-speed automatic transmission. When properly equipped, the Titan XD can tow up to 12,000 pounds, and has a payload capacity of 2,000 pounds. Nissan has confirmed that gasoline V6 and V8 options will be available on both Titan and Titan XD models, but has not released any details at this time. The 5.0-liter Cummins turbodiesel V8 will only be offered on the XD. Nissan is upgrading its Around View Monitor with features to aid with towing, too. Shown here as a Crew Cab, the Titan will be offered in King Cab and Single Cab configurations, as well, with three bed lengths (a 6.5-foot bed is seen here). Nissan has also told us that a lower-grade work truck will be available, as well. As the models roll out, the Titan and Titan XD will be offered in several trims, including a rugged-looking Pro-4X model and a new, top-of-the-line Platinum Reserve. All except the Pro-4X can be had with two- or four-wheel drive. Speaking of looks, we have to say, this is a pretty nice looking truck. Its appearance is fresh and modern, if awfully reminiscent of other trucks in the segment (hard to offer a unique design with that shape, of course). Up front, there are premium elements like available LED headlamps with LED running lamps, and out back, those same modern bulbs are used for the taillamps.