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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 unveils Altima-based V8 Supercars [w/videos]

Good as it is, when we think about the Nissan Altima, the words "V8" or "supercar" are not in our vernacular, but Nissan Motorsports is looking to change all that. After unveiling the race version of its Altima sedan intended for the Australian V8 Supercars series back in October, the four race teams and their cars were revealed yesterday ahead of a preseason test session this weekend.
Two of the Altima racecars will be sponsored by Jack Daniels while the other two will wear Norton (as in Norton Anti-Virus) black-and-yellow livery. The season officially kicks off on March 1, and we'll get to see the V8-powered Altima on US soil from May 17-19 when the V8 Supercars series hits the new Circuit of the Americas in Austin. Scroll down to watch a couple videos and a press release issued for the team introductions.

Nissan to present Vision Gran Turismo concept at Goodwood?

Power up your PlayStation and pop in any edition of Gran Turismo and you'll have hundreds of cars to choose from. But arguably few have managed to bridge the gap between that virtual world and reality than Nissan.
The Japanese automaker is the one responsible for putting the best gamers behind the wheel of actual race cars with its GT Academy, co-sponsored by Nissan and Gran Turismo. Yet while the likes of Mercedes-Benz, BMW, Volkswagen and Mitsubishi have already revealed their Vision Gran Turismo concepts specifically designed for the game, Nissan has been left behind. And as it is apt to point out in its latest infographic, that's not a position to which it's accustomed.
The graphic outlines all 148 Nissan vehicles you can drive in Gran Turismo, but leaves the last one under wraps, identified only by the date June 10, 2014. That's this Tuesday, when Nissan is hotly anticipated (thanks in no small part to the Tweet below from Nissan VP Andy Palmer) to reveal its own Vision Gran Turismo concept at the Goodwood Festival of Speed.