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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.

Honda series follows restoration of its first car in the US

We all have to start somewhere, and for Honda's automotive business in the US the beginning was a green N600. The company brought a handful of the hatchbacks into the US to test the waters. Now, N600 expert Tim Mings has started restoring that special Honda for a weekly documentary series. Mings reckons he has worked on a 1,000 or more N600s and Z600s, but none of them have been as special as this car. He owned it for several years before cleaning off the serial number, which showed this was the very first example in the US. According to Mings, of the first 50 N600s that Honda brought to the US, only three still survive. The N600 boasted a 600cc two-cylinder engine that could rev to 9,000 rpm. Today, you can see a modern interpretation of its boxy design in Honda's N-One Kei-class car in Japan. Honda's documentary series will follow every step of the restoration process, and the completed N600 will go to the company's museum. We can't wait to see how the car looks after Mings brings it back to life. Related Video: HONDA CELEBRATES AUTOMOTIVE HERITAGE AND HISTORY IN THE U.S. IN NEW ONLINE SERIES LAUNCHING ON SOCIAL MEDIA "Serial One," new online documentary series features the painstaking restoration of the very first Honda N600 in the U.S Fans can follow the journey as acclaimed N600 mechanic Tim Mings brings the vehicle back to life Mar 16, 2016 - TORRANCE, Calif. -- The story of American Honda's first N600 vehicle in the United States in 1969 unfolds through the eyes of a determined mechanic, taking viewers on a journey to restore the first American Honda VIN, "Serial One." Launching today on Honda's social channels and at serialone.com, Honda's new weekly online content series pays homage to the company's roots in America and reflects the challenging spirit of Honda by featuring an in-depth look at the step-by-step restoration of the N600 by Los Angeles-based mechanic Tim Mings. In 1969, after a decade of growth that led to Honda becoming the top-selling motorcycle manufacturer in America and the world, Honda embarked on a new mission to sell cars in the United States. Honda entered the U.S. market with the Honda N600, which was just 122 inches in length and could actually fit between the wheels of some full size vehicles in America, which measured up to 225 inches in length and weighed nearly twice as much as the NSX. The N600 had an all-alloy engine that could achieve 9000 rpm and reach speeds of 81 miles per hour.

Driving the Honda Ridgeline and marveling at Tesla | Autoblog Podcast #638

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Associate Editor Byron Hurd. They start off talking about why more people should buy the Honda Ridgeline, because it's a pretty darned good truck. Next, Byron talks about some Hyundais. He shares his experiences with the 2020 Sonata Hybrid and talks briefly about the prototype 2021 Elantra currently occupying his driveway. Up next, Jeremy shares his feelings about the BMW X1 crossover he spent some time with, prompting the gang to mull over the notion of BMW's modern interpretation of "Ultimate Driving Machine." After that, Byron talks about towing his 1990 Mazda Miata with the 2020 Infiniti QX80, and then they wrap up with some discussion of the mystery surrounding the Ford Maverick and some comments on the current state of Tesla. Autoblog Podcast #638 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Hauling dirt with the 2020 Honda Ridgeline Driving the 2020 Hyundai Sonata Hybrid Discussing the 2021 Hyundai Elantra Driving the 2020 BMW X1 Towing a 1990 Mazda Miata with a 2020 Infiniti QX80 News Ford Maverick tailgate stamping leaks; we may see the whole thing in 2021 Tesla reports profit for fourth straight quarter, setting it up to join S&P 500 Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: