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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.

2016 Ford Mustang Shelby GT350 to start at $47,870 [UPDATE]

UPDATE: After reaching out to Ford, we've been told by spokesman Said Deep that while the Blue Oval hasn't formally announced pricing for the GT350/GT350R, the document obtained by Mustang6G is accurate. Look for a second post when Ford makes its formal announcement at a later date. Ladies and gents, the Ford Mustang Shelby GT350 will be something of a bargain. Mustang6G has a leaked pricing sheet that indicates the base model will start at just $47,870, while the track-oriented R adds $13,500 to that price. Neither figure includes an $825 destination charge. That means that the high-performance Mustang will undercut, well, a lot of stuff. The GT350R is nearly $11,000 less than a Chevrolet Camaro Z/28 and is $2,830 less than a base BMW M4. The standard GT350, meanwhile, slots below the base Chevrolet Corvette by $7,130, while the price should even be within the reach of some Camaro SS 1LE consumers. In short, the GT350 and GT350R should appeal to a lot of people based purely on price alone. With the previous leak on options pricing, figuring out the cost of your ideal GT350 requires nothing more than some simple addition. While a leaked document such as this is often met with an initial degree of skepticism, Mustang6G reports that the prices are real and are showing up within the Ford dealer system. Naturally, we've reached out to Ford in an attempt to confirm this report. Should they get back to us, we'll be sure to update this story. See Ford's comment up top. Until then, head into Comments and let us know what you think of the starting prices for the GT350 and GT350R.

F-150 just the start of Ford's aluminum plans

Not only have we been told that the 2015 Ford F-150 is tougher, more durable and up to 700 pounds lighter than the current truck, Ford COO Mark Fields said it's also "CAFE-positive." That means, for the first time in the history of corporate average fuel economy standards, the F-150 would be a positive contributor on Ford's CAFE balance sheet instead of being a vehicle it needs to counterbalance with frugal offerings.
Fields' comments made at the Detroit Auto Show were among quotes from other Ford execs that confirmed the carmaker will be using aluminum for more of its vehicles. CEO Alan Mulally said it would "proliferate across our lineup," with speculation being that we'll see it applied to crossover and sport utility models first, since they'll benefit the most. Even gaining the massive scale of using aluminum on the world's best selling vehicle for its first effort - on average, the company sells two times as many F-150s in a single day as Land Rover sells of its aluminum Range Rover in a month - Ford will be looking to further spread the cost of its five-year development investment in aluminum technology. And that should mean better handling and fuel economy for those of us who don't need to wear hardhats at the office.