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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.

Riding along in Ford's bonkers Fiesta ST Global RallyCross car [w/video]

The Mountune-worked Fiesta ST GRC does 0-to-60 mph in 1.9 seconds.
On any given day, and every single weekend, there's at least one parking in the country invaded by manufacturer and team trucks. The be-chromed beasts and their 53-foot trailers are slotted into rows, men and women decorate the lot with orange cones to mark the invisible tracery of a temporary track, cars get unloaded, crews fret over them. The ritual can be as beautiful as the sunrise to those with enthusiast hearts, but it's just as common.

You'll have to apply to purchase a Ford GT

With the 2017 Ford GT rumored to cost around $400,000, an anonymous insider says that the company is taking a very exclusive approach in deciding who gets to own these supercars. The Blue Oval isn't forgetting its roots, though, and some current customers might get the first crack at the coupe's extremely limited production numbers. Reddit user 3031983 claims to work at a dealer and have access to an internal Ford website, which is where this info comes from. The ordering process for the latest GT begins in early 2016, and any interested buyers need to file an application with Ford first. Anyone can submit the request, but Ford is giving top priority to current GT owners. Once selected, customers will be walked through the personalization process and will eventually complete the purchase through a dealer certified to sell the GT. Autoblog reached out to Ford, and the company confirmed that all of the user's details are accurate. The concierge-style service certainly isn't uncommon with other high-end vehicles, though. It's also understandable that the Blue Oval would want to work closely with wealthy, enthusiast buyers, rather than just shipping its supercar off for dealers to sell. The user also reports that Ford is limiting global production of the GT to just 250 units a year, which the company confirms. That makes the Blue Oval's supercar truly exclusive for its early life. For comparison, Ferrari only built 499 LaFerraris, and there were 918 Porsche 918 Spyders. Related Video: