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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.

Ford tops mid-year ranking of brands in the US

YouGov's mid-year Brand Index rankings of America's best perceived brands has been released, and Ford has found its way to the top. The Dearborn, Michigan based manufacturer beat out online shopping giant Amazon, The History Channel, and home improvement superstore Lowe's, to take the top spot.
Ford jumped from sixth overall in 2012 to first for 2013, but those that have been watching these rankings shouldn't be hugely surprised. Ford was rated the best perceived automotive manufacturer by the same organization last year. The Blue Oval's success on the overall brand rankings is made all the more impressive by the complete lack of other automakers on the list.
YouGov (that is, survey respondents) cited Ford's first quarter of 2013 business, which saw an increase in market share and the best earnings recorded in over 10 years. Successfully launching the Focus and Fusion (pictured) and keeping them fresh in the minds of consumers has also contributed to Ford's best overall score.

Ford F-150 SVT Raptor sales jumping to new heights

Ford can't seem to build F-150 SVT Raptors fast enough. The off-road-ready trucks have been one of the Blue Oval's most reliable sellers, with record sales in eight of the last 10 months and a 14-percent jump in 2013. That's impressive enough, considering that the least expensive Raptor starts at $44,000. Factor in the modded F-150's fuel economy (it's rated at 11 miles per gallon in the city and 16 on the highway) and a national average gas price, as of this writing, of $3.55 per gallon, and its success is as unlikely as Ford's home team, the Detroit Lions, winning the Super Bowl this year (sorry, Lions fans, we're just quoting the experts in Vegas...).
Yet for some reason, Raptors spend an average of just 15 days on dealer lots before being snapped up, which is a quarter of the 60-day industry average. According to Ford's truck group marketing manager, Doug Scott, it's capability that keeps the Raptor selling strong. "What's helping drive Raptor sales is that Raptor delivers unmatched off-road performance to our customers. Raptor is also proof of our commitment to offer a truck for every customer and continuously improving them to meet our customers' evolving needs."
To address the strong demand for Raptors, Ford will bump production from three trucks per hour to five. Not much, we agree. But building an extra 48 trucks per day, at most, seems like a prudent way of addressing demand without oversaturating what is ultimately a niche market. Check out the press release below for more.