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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.

Ford highlights new F-650 and F-750 with full-size Tonka show truck [w/videos]

Who among us hasn't been tempted by the prospect of buying a big yellow truck and painting the name Tonka along the side? Well apparently there were some folks over at Ford who were just as tempted, only they actually had the means to make that childhood fantasy a reality in the form of the truck you see here. Revealed at the NTEA Work Truck Show this week in Indianapolis, this Tonka show truck stands nearly 10 feet tall. It's painted bright yellow, just like the one you played with in the sand box (and probably still would given the opportunity and maybe no one else looking) and has a blacked-out nose treatment and special graphics. As you can see, it's also equipped with a working dump bed, and has a truly staggering 33,000-pound gross vehicle weight rating, built to showcase the Blue Oval's new line of medium duty trucks. Of course "medium duty" is a relative term, and the new F-750 is clearly a heavier piece of machinery than the company's own Super Duty pickups, but they're lighter-duty than a proper big rig. The new 2016 Ford F-650 and F-750 are just as tough as the models they replace, but they're now quieter and more comfortable to use. In fact, Ford says its 6.7-liter Power Stroke V8 diesel is now 25-percent quieter inside the cabin at highway speeds, 45-percent quieter at idle and 35-percent quieter standing outside in front of the grille. Ford notes that it's the only medium-duty truck manufacturer that makes its own engines and transmissions. That Power Stroke diesel comes with 270 horsepower and 675 pound-feet of torque as standard, but can be upgraded to 300 hp and 700 lb-ft or all the way up to 330 hp and 725 lb-ft. Commercial buyers will also be able to choose between Regular, Super and Crew Cab models with a straight-frame, dock-height or tractor-towing frames, meaning that whatever it is you've got to haul, chances are high that the new Ford F-650 and F-750 can be set up to get the job done.

Caddy XT4, Subaru STI Type RA, and blazin' Elon | Autoblog Podcast #553

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor Alex Kierstein and Green Editor John Snyder. We talk about time spent with the Cadillac XT4 and Subaru WRX STI Type RA. Then we get into other topics, including the death of the VW Beetle, our thoughts on the state of the Nissan 370Z, cameras replacing mirrors, the trouble with the Ford Focus Active, and Elon Musk blazing a fat blunt. We indulge in a little conversation about the process of writing about cars. Finally we help a listener choose their next EV in the "Spend My Money" segment.Autoblog Podcast #553 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we've driven: Cadillac XT4 and Subaru WRX STI Type RA RIP, VW Bug What's up with the Nissan 370Z? Lexus to replace side mirrors with cameras RIP, Ford Focus Active You do you, Elon On writing about cars Spend My Money: electric edition Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Green Podcasts Cadillac Ford Lexus Nissan Subaru Tesla Volkswagen Car Buying Technology Coupe Crossover Electric Police/Emergency Sedan cadillac xt4 subaru wrx sti type ra