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Ford tops GM in US vehicle sales in May, driven by fleets

DETROIT - Ford, bolstered by heavy sales to fleet customers, surpassed General Motors in US new vehicle sales in May, according to figures reported Thursday. Ford said May sales rose 2.2 percent from a year ago to 241,126 units. GM sales dropped 1.3 percent to 237,364. GM said it had been trimming sales of heavily discounted vehicles to car rental companies. Such fleet sales made up about 19 percent of its total sales in May. Ford's fleet sales rose 8.4 percent, representing more than 34 percent of total sales. The industry average is around 20 percent. Analysts had expected mixed results for the industry, with sales likely propped up by heavy discounts. Fiat Chrysler Automobiles said May sales dipped 0.9 percent to 193,040. Toyota's US sales dropped 0.5 percent to 218,248. Nissan said US sales in May rose 3.0 percent, to 137,471. After demand fell in March and April, analysts estimated May sales at just over 1.5 million. The seasonally adjusted annual rate of sales in May was estimated at 16.8 million to 16.9 million vehicles, about the same as April. A year earlier, sales stood at 17.55 million vehicles. Early reports indicated that sales over the three-day Memorial Day weekend were helped by heavy discounts. "While demand for new vehicles is still relatively strong, it's a bit of smoke and mirrors," said Jessica Caldwell, executive director of industry analysis at Edmunds, the car shopping website. Manufacturers and dealers "really pushed the deals over the holiday weekend to prop up their May numbers," she said. "Incentives were up sharply, and it seems automakers are putting more cash on the hood to nudge car shoppers to buy versus lease." General Motors dealers were offering discounts of up to $12,000 on the full-size Chevrolet Silverado pickup, while some dealer discounts on Ford Motor Co's F-series pickups were more than $10,000 on 2017 models and more than $14,000 on leftover 2016 models. The 2017 model year started eight months ago. Reporting by Paul LienertRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Chrysler Fiat Ford GM Nissan Toyota US

Fiat Chrysler’s Sergio Marchionne throws more cold water on Tesla, EVs

Fiat Chrysler CEO Sergio Marchionne has once again sounded off on industry upstart Tesla and its wunderkind boss, Elon Musk. In the process, he doubled down on FCA's reluctance to follow its competitors headlong into electrifying its vehicle fleet, saying "we're not betting the bank on going fully electric in the next decade. It won't happen." Marchionne made his comments on Monday during remarks at the New York Stock Exchange, where he was marking the 70th anniversary of Ferrari. They come as Tesla struggles to ramp up production of its Model 3 sedan, its first mass-market offering, and the company continues to hemorrhage money. Here's what he said: "We still don't have a viable model for delivering an electric car. As much as I like Elon Musk, and he's a good friend, and actually he's done a phenomenal job of marketing Telsa, I remain unconvinced of a new economic viability of the model that he's pitching. So I think we need to be careful, because when we embrace electrification, and I made comments on the fact that we lose money on every Fiat 500, the electric that we sell in the U.S. Now that's reflective of the 2011-2010 costs in terms of components. Those costs have come down. If I were to do it again, I would certainly reduce the amount of the loss, but I would not make any money. And you can't run economic entities on losses. It doesn't happen. "So how do we find a convergence of technology bringing prices of components down and allows us to price accordingly — or we need to navigate through this process in a combined way between combustion and electrification to yield at least a minimum of economic returns that allows for our continuity? The last thing you want is me to be successful selling cars for 24 months and then go bust. That's not a good story. Especially in a place like this which rewards economic success. Let's not sit here and design our own future in the tank. Let's try and do it properly. We will do all the right things. We are investing without making a lot of noise on electrification. We will combine it with combustion to yield the right level of CO2. But we're not betting the bank on going fully electric in the next decade. It won't happen." It's not the first time Marchionne has publicly expressed doubts about Tesla's business plan.

2020 Chrysler Pacifica pricing set: Here's how Voyager and Pacifica lineups compare

Fiat-Chrysler shooed the irritant Dodge Grand Caravan out of the product mix for cannibalizing Pacifica sales, then created the Voyager to lure minivan buyers who need an inexpensive minivan fix across the lot. The 2020 Voyager L and LX, which replace the entry-level Pacifica L and Pacifica LX, costs $250 less than the respective 2019 Pacifica models. Chrysler's held the line on the starter Pacifica pricing while revamping the trim arrangement. For 2020, the Pacifica Touring becomes the base retail Pacifica model, and the Touring Plus goes away. Cars Direct has found that the 2020 minivan in base Touring trim will cost $34,990 after a $1,495 destination fee. That's the same price as the 2019 Touring Plus. Let's explain the trims before we get to the rest of the pricing, because it's a little funky. In 2019, the trim steps went Pacifica L, LX, fleet-only Touring, Touring Plus, Touring L, Touring L Plus, and Limited. Those first three iterations have become Voyagers L, LX, and LXi — the fleet-only 2019 Pacifica Touring has been replaced by the fleet-only 2020 Voyager LXi. So we'll recap the entire price lineup to make it clearer: Voyager L, $28,480 ($250 less than the 2019 Pacifica L) Voyager LX, $31,290 ($250 less than the 2019 Pacifica LX) Voyager LXi (fleet), $34,490 ($500 less than the now-retired, fleet-only 2019 Pacifica Touring) Pacifica Touring, $34,990 (Same price as the now-retired 2019 Pacifica Plus) Pacifica Touring L, $38,240 ($50 less than in 2019) Pacifica Touring L 35th Anniversary, $40,230 ($75 less than in 2019) Pacifica Touring L Plus, $41,040 ($100 less than in 2019) Pacifica Touring L Plus 35th Anniversary, $42,335 ($225 less than in 2019) Pacifica Limited, $45,940 ($250 less than in 2019) Pacifica Limited 35th Anniversary, $46,735 ($150 less than in 2019) Now that Fiat-Chrysler's rationalized the offerings, the absence of advanced technology features on the Voyager trims won't surprise anyone. Voyager infotainment begins and ends with the seven-inch Uconnect touchscreen; the larger 8.4-inch screen is forbidden. The Voyager LXi becomes the fleet model, sparing the Pacifica nameplate that ignominy. Driver assistance tech in Voyagers will be limited to the cost-extra rear park assist, blind-spot monitoring, and rear cross traffic detection. Adaptive cruise control and autonomous braking aren't offered. If you want those, you have to shift up to the Pacifica Touring, which can add them with the $995 Advanced Safetytec Group.