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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 ST Octane Academy [w/video]

The ST school is about more than just handbrake turns, hot laps, and sliding into parking spaces.
I felt like such a rock star. On my second pass around the UrbanCross course (read: fancy autocross) at the Ford ST Octane Academy, I absolutely nailed the exit, sliding the bright-yellow Focus ST sideways into a box the size of a parking space, all four wheels in line.

Moon landing anniversary: How Detroit automakers won the space race

America's industrial might — automakers included — determined the outcome of the 20th centuryÂ’s biggest events. The “Arsenal of Democracy” won World War II, and then the Cold War. And our factories flew us to the moon. Apollo was a Cold War program. You can draw a direct line from Nazi V-2 rockets to ICBMs to the Saturn V. The space race was a proxy war — which beats a real war. It was a healthy outlet for technology and testosterone that would otherwise be used for darker purposes. (People protested, and still do, that money for space should go to problems here on Earth, but more likely the military-industrial complex would've just bought more bombs with it.) As long as we and the Soviet Union were launching rockets into space, we were not lobbing them at each other. JFKÂ’s challenge to “go to the moon in this decade and do the other things, not because they are easy, but because they are hard,” put American industry back on a war footing. We were galvanized to beat the Russians, to demonstrate technological dominance. (A lack of similar unifying purpose is why we havenÂ’t been to the moon since, or Mars.) NASA says more than 400,000 Americans, from scientists to seamstresses, toiled on the moon program, working for government or for 20,000 contractors. Antagonism was diverted into something inspirational. The Big Three automakers were some of the biggest companies in the moon program, which might surprise a lot of people today. Note to a new generation who marveled when SpaceX launched a Tesla Roadster out into the solar system: Sure, that was neat, but just know that Detroit beat Elon Musk to space by more than half a century. This high point in human history was brought to you by Ford ItÂ’s hard to imagine in this era of Sony-LG-Samsung, but Ford used to make TVs. And other consumer appliances. Or rather Philco, the radio, TV and transistor pioneer that Ford bought in 1961 — the year Gagarin and Alan Shepard flew in space. Ted Ryan, FordÂ’s archives and heritage brand manager, just wrote a Medium article on the central role Philco-Ford played in manned spaceflight. And nothingÂ’s more central than Mission Control in Houston, the famous console-filled room we all know from TV and movies. What we didn't know was, that was Ford. Ford built that. In 1953, Ryan notes, Philco invented a transistor that was key to the development of (what were then regarded as) high-speed computers, so naturally Philco became a contractor for NASA and the military.