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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.

Ford Recalls Nearly 435,000 Vehicles

Ford is recalling nearly 435,000 cars and SUVs to fix rusting frame parts or faulty seats. The biggest of the two recalls covers nearly 386,000 Ford Escapes from the 2001 through 2004 model years. Ford says the subframes can rust, allowing a control arm to separate and hamper steering control. Ford is aware of one crash but no injuries linked to the problem. The SUVs were originally sold or registered in 20 states and Washington, D.C., where salt is used to clear snow and ice from roads. Six Canadian provinces also are included. Dealers will install a reinforcement brace to fix the problem. The Escapes covered by the recall were built from Oct. 22, 1999 through Dec. 19, 2003 at the Kansas City Assembly plant, and from May 1, 2003 through Jan. 23, 2004 at the Ohio Assembly plant, Ford said in a statement issued Monday. They were originally sold or registered in Connecticut, Iowa, Minnesota, Ohio, Wisconsin, Delaware, Maine, Missouri, Pennsylvania, Maryland, New Hampshire, Rhode Island, Illinois, Massachusetts, New Jersey, Vermont, Indiana, Michigan, New York, West Virginia and Washington, D.C. Also covered are Escapes sold or registered in Ontario, Quebec, Prince Edward Island, New Brunswick, Nova Scotia, and Newfoundland & Labrador. The second recall covers 49,000 Ford Fusion, Lincoln MKZ, Ford Escape and C-MAX vehicles from 2013 and 2014. Dealers will replace seat back frames that weren't welded properly. No crashes or injuries have been reported from the problem, Ford said. Recalls Ford

Ford GT inspires objects for Milan furniture show [w/videos]

Can't get enough of the lines on the new Ford GT? Then Milan is the place to be this month. That's where Ford will be presenting a series of objects whose designs were penned by the same talents behind (and inspired by) the company's new supercar. Set to be presented at the Salone del Mobile furniture show in the Italian metropolis, the collection ranges from tables, chairs and light fixtures to a sailboat, foosball table and electric guitar. "We have an incredible amount of talent in our global design studios," said Ford's chief designer Moray Callum. "Salone del Mobile is the perfect forum to share some of that creativity, while also offering our designers an opportunity to get exposure to new ideas that will inspire future Ford design." In addition to these seemingly random objects, Ford has also partnered with architect Attilio Stocchi to create a special light exhibition entitled "Favillia, Every Light a Voice," similarly inspired by the new GT. But if your plans won't be taking you to Milan anytime soon, you can check them out in the images above and the videos and press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Ford Designers Showcase at Salone del Mobile a Guitar, Sail Boat, and Table Football Inspired by Ford GT Supercar - Ford's global design team at the world's leading furniture design expo, Salone del Mobile, unveils a range of items inspired by the new Ford GT - A boat, guitar, table football and other objects were developed by Ford's global design studios for the show, applying the same interior design philosophy as Ford's upcoming supercar - Also inspired by the all-new Ford GT is "FAVILLA, To Every Light a Voice," an immersive installation curated by architect Attilio Stocchi in partnership with Salone del Mobile - Salone del Mobile in Milan, Italy, runs until April 19. Ford today also hosts a discussion on current trends, and how they are influencing design MILAN, Italy, April 14, 2015 – Ford's team of global designers today showcased their innovation and creativity, unveiling a sail boat, guitar and table football at the Salone del Mobile design show, in Milan, Italy.