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U.S. auto sales fall in July, as Detroit dials back on inventory, rental sales

DETROIT — U.S. carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets in July as General Motors, Ford and Fiat Chrysler Automobiles struggled to curb a slide in retail sales. July is on track to be the fifth straight month in which the annual pace of car and light truck sales declined from the same month a year ago, in part because of fewer fleet sales, analysts and industry executives said. July 2016 sales hit a strong 17.9-million-vehicle pace. GM said the seasonally adjusted annual sales rate fell to an estimated 16.9 million vehicles in July. At midmorning on Tuesday, GM shares were down 3.4 percent at $34.77, Ford was down 2.8 percent at $10.91, and Fiat Chrysler shares were down 0.3 percent at $12.05 in New York. GM sales dropped 15 percent from a year ago to 226,107 vehicles, as the company cut rental fleet sales more than 80 percent. The automaker said inventories of unsold vehicles at month's end were 104 days, down from 105 days at the end of June. GM has promised investors to reduce inventories to 70 days by year-end. Ford said its July sales dipped 7.5 percent to 200,212 vehicles, as it cut fleet sales more than 26 percent. Inventories fell to 77 days from 79 the previous month. Fiat Chrysler said sales dropped 10 percent to 161,477, as it also cut back sales to daily rental fleets. Among the top Japanese companies, only Toyota reported a year-to-year gain, with sales up 4 percent to 222,057 — just 4,000 units behind GM. Honda sales were down 1 percent to 150,980 — its first-quarter sales continuing to decline in North America but seeing a big increase in China. And Nissan sales fell 3 percent to 128,295. GM, Ford and Fiat Chrysler have cautioned that second-half financial results likely will be lower than first-half results, in part reflecting production cuts in North America and pricing pressures. The automakers this year have been deliberately dialing back sales to rental-car companies, which often generate little to no profit, while struggling to keep retail sales from sagging further, according to industry analysts. Industry consultant LMC cut its full-year forecast for new vehicle sales to 17 million vehicles. Automakers sold a record 17.55 million vehicles in the United States in 2016.

2016 Ford Focus RS leaked ahead of official debut

We won't officially see the new Ford Focus RS until the Blue Oval shows it to the world at an event on Tuesday, but here it is ahead of time, courtesy of the folks at Evo. As you can see, this is one hot little hatch, and if Evo's story is to be believed, those aggressive looks will be backed up with some pretty serious performance. Power is said to come from Ford's 2.3-liter EcoBoost inline four-cylinder engine, though the magazine's estimate of 250 horsepower seems awfully conservative to us (considering that's less than the current Focus ST). If earlier reports are to be believed, we think the RS will come packing more like 300 hp, if not more. For the first time, the Focus RS will use all-wheel drive with brake-operated torque-vectoring, and Evo says that up to 70 percent of the engine's power can be sent to the rear wheels. Hitting 60 miles per hour will reportedly take less than five seconds. Otherwise, it's business as usual, with a mean-looking exterior complete with the necessary aero bits (notice that wing!), and inside, we can see a beefy set of Recaro chairs. That's really all we know for now, but stay tuned for more when the Focus RS makes its official debut in the not-too-distant future. Related Video:

2015 Ford F-150's aluminum body not expected to hurt resale value

A cloud of skepticism has hung over the 2015 Ford F-150 since even before it went on sale. The issue had nothing to do with the truck's capabilities but instead over reservations about the switch to aluminum body panels. The change helped shed about 700 pounds off the scales, but the lighter metal also came with the potential for higher repair costs. Edmunds even recently whacked its pickup with a hammer just to find out how much it would cost. However, this might not be a problem, because the latest calculations indicate resale value for the new F-150 is on the rise. The residual experts at ALG estimate that the 2015 F-150 is going to hold 58 percent of its value over the next three years, versus 52 percent for the 2014 model, according to Bloomberg. That figure also gives the Ford the highest forecasted resale value among American fullsize pickups. The 2015 Toyota Tundra leads the segment by holding 63 percent. Meanwhile, the 2015 Chevrolet Silverado and GMC Sierra both come in with 51 percent, and the Ram 1500 holds 46 percent. Finally, the 2015 Nissan Titan comes in at 42 percent. The researchers believe that the improvement in fuel economy for the 2015 F-150 at up to 26 miles per gallon highway offsets higher body repair costs. "We are giving credit for the aluminum construction in the fuel efficiency we're seeing," Eric Lyman, ALG vice president of industry insights, said to Bloomberg. "We are not putting in a negative adjustment for concerns around repair costs or durability associated with aluminum." Ford has long-been preparing for the switch to aluminum. The company purposefully designed the body sections to make repairs easier, and it also partially subsidized dealers' investments for new equipment to do the work. Related Video: