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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.

Autoblog Minute: Focus ST Tuner, Traffic Deaths, Audi EV SUV

Ford releases an upgrade kit for the Focus ST, 2015 shows a spike in traffic-related deaths, and the future of Audi is previewed. Autoblog's Greg Migliore recaps the week. Show full video transcript text [00:00:00] Ford releases an upgrade kit for the Focus ST, 2015 shows a spike in traffic-related deaths, and the future of Audi, here's a hint it's electric. I'm Greg Migliore, senior editor at Autoblog with these stories and more for your Autoblog Minute weekly recap. Own a Focus ST but suffer from horsepower envy in anticipation of the Focus RS? Not a problem. A $1,900-kit from the developers at Mountune will boost your hot hatch to 275 hp and 296 pound-feet of torque, when running on 93-octane fuel. Traffic fatalities in 2015 see the largest spike in decades. The report from National Safety Council cites more drivers putting in more miles, and distracted driving as contributing to the 14-percent hike in car-related deaths. Audi plans on releasing a fully electric SUV at the 2015 Frankfurt Motor Show. Those are the highlights from the week that was. Be sure to check in this Saturday for my complete weekly recap. For Autoblog, I'm Greg Migliore. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. Frankfurt Motor Show Audi Ford Driving SUV Electric Autoblog Minute Videos Original Video ford focus st

2023 BMW M2 revealed, BMW i4 and Mercedes-AMG SL 63 driven | Autoblog Podcast #751

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. In this week's news, we discuss the Jaguar F-Type commemorative 75 model, the reveal of the 2023 BMW M2, as well as the Rivian recall and its repercussions. We talk about the cars we've been driving, including the Ford Mustang Ice White Edition, BMW i4, Mercedes-AMG SL 63 and Lexus RX 500h F-Sport. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #751 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Jaguar sends off the F-Type with commemorative 75 model 2023 BMW M2 revealed: Hot and heavy Rivian recalling nearly all 13,000 of its vehicles over steering hazard Cars we're driving 2022 Ford Mustang GT Ice White Edition 2022 BMW i4 2022 Mercedes-AMG SL 63 2023 Lexus RX 500h F-Sport Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: