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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.

Watch divers pull 1973 Ford Mustang Mach 1, Mazda RX-7 from a river

It’s like the ultimate barn find, only swap out the relatively ideal dry confines of a barn for a watery grave. Adventures with Purpose, a YouTube channel devoted to the exploits of a group of divers in Oregon that specializes in pulling submerged cars from the water, recently found six vehicles in the Tualatin River, near Portland. The most notable finds? A 1973 Ford Mustang Mach 1 fastback and a Mazda RX-7 sports car, plus a Chevrolet LUV pickup, which is not shown being pulled from the water. As you might expect, neither are exactly in top condition, with the badly rusted Mustang basically disintegrating into scrap pieces as itÂ’s pulled onto a flatbed truck parked on a boat ramp. The RX-7, meanwhile, is caked with mud, its windshield and roof crumpled, but itÂ’s basically intact. A hat tip goes to CarBuzz for spotting the videos. The divers use inflatable salvage bags to help raise the vehicles. They removed the MustangÂ’s rusted and encrusted V8 first — the '73 model came with either 302 or 351 engines — and had to pause to remove some of the thick mud that had built up inside the car. Other things they found from both pulls include an old sledgehammer, a stop sign and a rusted Washington state license plate. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The crew say they received a call from someone who told them theyÂ’d find plenty of vehicles in the river. The whole Mach 1 salvage operation took two days. “A lot of you are going to be a bit upset at how destroyed the Mustang Mach 1 became after we tried removing it from the river,” the team wrote in its description. “In our defense, there was an extra 8,000 pounds of mud inside the car, along with the Mustang being underwater in the river for over 40 years.” The Adventures with Purpose team says it has recovered 326 cars, six guns, two bodies and a tractor, among things. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.     Ford Mazda Coupe Performance Classics

New GMC Canyon, Ford Bronco Heritage Editions and Nissan Z | Autoblog Podcast #743

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Producer Christopher McGraw. They kick off the podcast with news. Ford launched retro-themed Heritage Editions for its 2023 Bronco and Bronco Sport lineup. GMC unveiled the 2023 Canyon, complete with a ZR2-based AT4X trim. Some rare, vintage American cars were stolen and destroyed in England. Chris loves sleeping in cars, and tells us how to turn a car into a camper for less than $100. Next, our hosts talk about what they've been driving from the Autoblog test fleet, including the new Nissan Z (which Chris slept in), Mercedes EQS 450 and VW Atlas. Finally, they reference a recent Autoblog Reddit AMA for a unique "Spend My Money" format. They help one participant pick a sub-$40,000 sports car, and another choose a JDM sports car to import to the U.S. when they move back from Japan. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #743 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Heritage Editions join 2023 Bronco, Bronco Sport lineups 2023 GMC Canyon revealed with new ZR2-based AT4X trim Thieves steal and demolish two classic American cars in the U.K. Turn your car into a comfortable camper for less than $100 Cars we're driving 2023 Nissan Z ... Can you catch some z's in it? 2022 Mercedes-Benz EQS 450+ 2022 Volkswagen Atlas Spend My Money: Reddit edition Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.