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SEMA crowns Mustang, FR-S as this year's hottest cars in the building

After wrapping up the first day of the 2012 SEMA Show, organizers handed out awards for some of the trendiest vehicles on display. Since the whole point of SEMA is to show off new products available in the aftermarket world for use in cars, trucks and SUVs, each year, the show distinguishes the most popular vehicle in various segments. Not surprisingly, this year's Hottest Car and Hottest Sport Compact are the Ford Mustang and Scion FR-S, respectively, while the Ford F-Series brought home the Hottest Truck and the Jeep Wrangler was named the Hottest 4x4-SUV.
More than 2,000 companies are at this year's show, and the display booths represents a "vote" for each car to determing the trendiest vehicles in each of the four categories. It isn't clear if these awards also take cars brought by OEMs into account, but the Mustang and FR-S were definitely well represented by both OEM and aftermarket show versions.
As usual, the OEMs showed up in force at the this year's SEMA Show exhibiting a variety of cars ranging from production-intent cars like the beastly Ford Mustang Cobra Jet to much flashier rides like Scion's Carbon Stealth FR-S.

Entertainment Weekly gets a peek into the 'Ford vs. Ferrari' film

The 20th Century Fox film "Ford v Ferrari" is scheduled to open Nov. 15. The movie tells a story enthusiasts can't get tired of, and that Ford has turned into two profitable automotive revivals: the double-cross that led to the no-expense-spared revenge that spawned the Ford GT40 and four successive victories at Le Mans. Entertainment Weekly spoke to the primary actors in the piece and got shots from the set. Matt Damon plays Carroll Shelby, the man Ford recruited to run the GT40 program after the race car performed poorly in its first year of international racing in 1964. Christian Bale plays Ken Miles, an English version of Shelby who could build and drive winning cars. Miles was so good that when racing one of his "Miles Specials," a Cooper-Porsche he improved and drove for California Porsche dealer Johnny von Neumann, he beat the factory Porsches so often that the Stuttgart automaker took Miles' car away. The movie focuses on the first year of the GT40's winning run, in 1966 after the car had become the GT40 MkII. Bale calls the story a "David vs. Goliath vs. Goliath" battle, because Shelby and Miles had to fight Ford as well as Ferrari. "It's these two friends figuring out how do you deal with these a–holes in suits who know nothing about racing," he said. And even though the cars won the fight on track, the two men didn't always win the fights with their paymasters. The three-way finish Ford staged at the end of the race cheated Miles of victory. Miles had been laps ahead of the second-place GT40 driven by Bruce McLaren at the time, but slowed down to let the car catch up. After the three-abreast finish, race organizers said McLaren's car started the race behind Miles, and by finishing with Miles had covered 60 feet more than Miles during the race. They declared McLaren and Chris Amon the winners. The story of how they got to that point — which director James Mangold called "Butch and Sundance in the world of racing" — promises more twists and turns than the Le Mans circuit, and some open flame; video on YouTube shows Damon-as-Shelby being set on fire in one scene. We admit to a bit of concern when Mangold says, "This is much more of a relationship movie and less a historical document." Yet it sounds like he's done his best to get the racing right, so all won't be lost no matter what. Head over to EW to check out the full story and more photos.

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.