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Major automakers post mixed US June sales figures

General Motors, Ford and Fiat Chrysler Automobiles NV posted declines in US new vehicle sales for June on Monday, while major Japanese automakers reported stronger figures. Once again, demand for pickup trucks and crossovers offset a decline in sedan sales. Automakers' shares rose as overall industry sales still came in above Wall Street expectations. The US auto industry is bracing for a downturn after hitting a record 17.55 million new vehicles sold in 2016. Analysts had predicted that overall, US vehicle sales would fall in June for the fourth consecutive month. As the market has shown signs of cooling, automakers have hiked discounts and loosened lending terms. Car shopping website Edmunds said on Monday the average length of a car loan reached an all-time high of 69.3 months in June. "It's financially risky, leaving borrowers exposed to being upside down on their vehicles for a large chunk of their loans," said Jessica Caldwell, Edmunds' executive director of industry analysis. GM said its sales fell about 5 percent versus June 2016, but that the industry would see stronger sales in the second half of 2017 versus the first half. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." GM shares were up 2.4 percent in morning trading, while Ford rose 3.3 percent and FCA shares jumped 6 percent. "US total sales are moderating due to an industry-wide pullback in daily rental sales, but key US economic fundamentals clearly remain positive," said GM chief economist Mustafa Mohatarem. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." Ford said its sales for June were hit by lower fleet sales to rental agencies, businesses, and government entities, which fell 13.9 percent, while sales to consumers were flat. But it sold a record 406,464 SUVs in the first half of the year, with Explorer sales increasing 23 percent in June. And sales of the F-150 had their strongest June since 2001. On a media call, Ford executives said an initial read of automakers' sales figures indicated a seasonally adjusted annualized rate of around 17 million new vehicles for the month, which would be better than 16.6 million units analysts had predicted. FCA said June sales decreased 7 percent versus the same month a year earlier.

Mark LaNeve named head of Ford US sales and marketing

Ford continues to rework the positions of its top marketing executives as Jim Farley moves to take over the Blue Oval in Europe and Stephen Odell becomes head of global sales. The latest shift brings Mark LaNeve in as the new vice president of US marketing, sales, service and dealer relations, effective February 1. LaNeve replaces John Felice, who is retiring. Felice was with the automaker for the last 30 years and held his most recent job since November of 2013. In addition to coordinating marketing and sales, LaNeve's other duty is to build "innovative new digital communications and transforming the retail experience for customers," according to the automaker's press release announcing the change. He reports to both Odell and Joe Hinrichs, Ford's boss of the Americas. LaNeve has a long history in the auto industry. He spent a portion of his early career with Cadillac but eventually was hired as the CEO of Volvo Cars North America. He also headed up US marketing at General Motors for several years in the 2000s. Since 2012, LaNeve has been the chief operating officer at Global Ford Team, which is responsible for the company's worldwide advertising. There's an interesting challenge ahead of LaNeve in leading the Blue Oval's US marketing and sales in 2015. Ford was the bestselling auto brand here in 2014 but overall sales fell about 1.1 percent. According to Automotive News, the company's market share dropped to 14.9 percent, a one-percent reduction and the lowest level since 2008. Read below for the automaker's official announcement of LaNeve's new job. JOHN FELICE RETIRING AFTER 30 YEARS; FORD NAMES MARK LANEVE TO LEAD U.S. MARKETING, SALES AND SERVICE TEAM John Felice is retiring as vice president, U.S. Marketing, Sales and Service, after 30 years of service Mark LaNeve, named vice president, U.S. Marketing, Sales and Service and elected a Ford Motor Company officer; former chief operating officer at Global Team Ford brings nearly three decades of automotive marketing and sales experience to Ford Ford Motor Company [NYSE: F] announced today changes in its senior leadership team as it continues to deliver and accelerate the company's One Ford plan while driving for product excellence and innovation. John Felice, vice president, U.S. Marketing, Sales and Service, has elected to retire after 30 years at Ford, effective Feb. 1, 2015.

Landau yachts: The history of Lincoln's Designer Series

The Lincoln Designer Series was introduced in 1976, at the end of the imposing Mark IV Continental generation. Four big-name fashion designers of the era – all-American country clubber Bill Blass, psychedelic Italian pattern-maestro Emilio Pucci, venerable French jewelry-maker Cartier, and a la mode French fashionista Hubert de Givenchy – were asked to slather their elegance on LincolnÂ’s personal luxury coupe. This experiment was a wild success. According to documents uncovered in the Lincoln archives – with the incomparable guidance of official brand historian Ted Ryan – the Designer series “accounted for more than 27% of Mark IV sales” shortly after its introduction. It was such a runaway hit, that it continued on throughout the even larger Mark V generation (incidentally, the longest coupe ever produced by Ford Motor Company), and didnÂ’t really peter out on these big two-doors until the early 1990s.   But the true history of the series well predates the era of opera windows, crushed velour and wire wheel covers. “If you take a step back even further, when Ford purchased Lincoln in 1922, Edsel Ford was put in charge of the company. But more than that, he helped establish the first design studio at Ford,” said Ryan. The basic Model T didnÂ’t take much design. Lincoln was different. Edsel is famed for his quote. “Father wanted to make the most popular car, I wanted to make the best.” The specific genesis of the Designer Series, however, came along as a result of a long-term personal connection with the marqueÂ’s first chairman. “Edsel Ford had a relationship with Cartier, and correspondence going throughout the 1920s and '30s,” Ryan said. “His personal cards and stationery were always ordered from Cartier.” This enduring link wasnÂ’t formalized until the late 1960s. “I found in product development files, in 1967, that Ford had gone to Cartier for a special 1970 Cartier Continental coupe,” Ryan said. According to internal documents, this package would include unique interior leather/cloth/vinyl surfaces and trim, modified dials, and a Cartier jewelry box, as well as golden plating on the steering wheel ornament, dial face ornaments, keys, C-pillar ornaments, door monograms, and dashboard plaque. “Think of that. A car that never was, that could have been,” Ryan said, wistfully. Some Cartier magic did get glossed on Lincolns in the late 1960s.