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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.

Recharge Wrap-up: BMW, Nissan team up on chargers, CNN loves Tesla Model X

CNN Money calls the Tesla Model X "the new king of crossover SUVs." In its round-up of its favorite luxury SUVs of 2015, CNN places the electric ute on the top of its list. The Model X's EV powertrain, excellent acceleration and handling and cool design and technology features (including much attention paid to its slick Falcon Wing doors) earn it high praise. See the video above, and read more at CNN Money or from Clean Technica. Tesla has plans to open offices in Korea and South Africa. Tesla has registered in Korea as Tesla Korea Limited under co-CEOs Todd Maron (Tesla general council) and Susan Repo (Tesla Financial Services). It will have an office near Seoul. Tesla is also reportedly opening an office in South Africa in January, with GreenCape CEO Evan Rice acting as Business Development Manager. Rice will work to build a market for Tesla's PowerPack stationary energy storage systems. Read more from Korea Times, from htxt and from Teslarati. BMW and Nissan are partnering to build 120 new fast charging stations in the US. The public, 50-kW DC chargers, operating on the Greenlots charging network, will be deployed in 19 states in order to support Nissan Leaf and BMW i3 drivers, and to help promote EV adoption in the US. The chargers will support both CHAdeMO and SAE Combo charging. "Together with Nissan, we are focused on facilitating longer distance travel so that even more drivers will choose to experience the convenience of e-mobility for themselves," says BMW's Manager of Connected eMobility, Cliff Fietzek. Kia also recently partnered with Greenlots to provide charging for Soul EV drivers. Read more in the press release below. BMW AND NISSAN PARTNER TO DEPLOY DUAL FAST CHARGERS ACROSS THE U.S. TO BENEFIT ELECTRIC VEHICLE DRIVERS • A total of 120 dual-port 50kW DC Fast-charging stations have been installed across 19 states to support longer distance electric vehicle travel for Nissan LEAF and BMW i3 drivers. • These publicly available Greenlots-networked charging stations include both CHAdeMO and CCS (Combo) connectors, suitable for all DC Fast charging-capable electric vehicles in the U.S. WOODCLIFF LAKE, NJ and NASHVILLE, TN - December 21, 2015... BMW and Nissan are joining forces to offer public DC Fast charging at 120 locations across 19 states in an effort to support Nissan LEAF and BMW i3 customers and to promote increased adoption of electric vehicles (EVs) nationwide.

Is a Nissan Leaf with a 250-mile range less than three years off?

Nissan CEO Carlos Ghosn has never shied away from bold proclamations. Most recently, he implied that an electric vehicle with a single-charge range comparable to that of a gas-powered vehicle on a full tank may be fewer than three years out. We'd love to see it. Indeed, Ghosn said that such a car may be around in the "near future," Hybrid Cars said, citing a presentation Nissan CEO Carlos Ghosn made to shareholders earlier this week. He also showed a video of a Nissan Leaf in Japan, which appears to start out on a trip with 417 km (259 miles) of range available. The 2015 Leaf's single-charge range is rated at 84 miles in the US. How to get another 120 miles or so? Ghosn's talking about a still-lighter vehicle as well as cheaper batteries and improved battery chemistry. He also alluded to shorter recharging times. Last month, word got out that Nissan was working on a top-of-the-line Leaf that, as soon as this fall, would include a 30-kilowatt-hour battery, up from the standard 24-kWh version. Such a variant, which would be launched ahead of the next-generation Leaf slated for as soon as 2017, could boost the Leaf's single-charge range to as far as 105 miles. Related Videos: Featured Gallery 2013 Nissan Leaf View 55 Photos News Source: Hybrid Cars Green Nissan Hatchback Electric single-charge range