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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 Civic Concept is your average neon green, turbocharged show stealer [w/video]

At an auto show where the hottest cars and concepts are increasingly shown off the night before the official doors even open, surprises are rare. But Honda pulled off a big one this afternoon, with a nuclear green Civic Concept that takes dead aim at the brand's naysayers. Honda "concept" cars have tended towards the literal in recent years, and never has that been more exciting than with this coupe. The prelude to the tenth-generation Civic has a face that fits in well enough with the company's current lineup, but the rest of the bodywork feels far more JDM-inspired. The sides are complex without being too busy, and the bold graphic elements, especially the wraparound taillight, seem punctuate the mass. You might not dig the green meanie as much as we do, but if you're a Honda fan (even lapsed) the performance news should have you high-fiving your nearest bro. To start, Honda has confirmed that this Civic will be the first in the US to incorporate turbocharged VTEC engines. The turbo'd 1.5-liter four will get hooked up to both a six-speed manual and a CVT. Civic is also going to get a bodystyle that Honda has neglected in our country for too long: the five-door hatchback. A moment of silence, please... Of course sedans and coupes will be part of the mix, too. But perhaps the most exciting news for lead-footed fan boys will be the inclusion of both a Civic Si and the Nurburgring-champion Civic Type R for our market. We'd both hoped and suspected that the Type R might make the leap to North America, and Honda hasn't disappointed. The gen-ten Civic will go on sale in the US this fall, though no specifics have yet been offered about which variants will be first and last. Stay tuned. Honda Debuts Sportiest Civic Design in Brand History with 10th-Generation Civic Concept at New York International Auto Show - 10th-generation, 2016 model year Civic focuses on sporty, fun-to-drive dynamics - Civic lineup to include Sedan, Coupe, and 5-door Hatchback body types, as well as Si and Type-R versions - First Honda model to apply new VTEC® Turbo engines in North America Civic, America's most popular small car is designed, developed and produced in North America Today Honda unveiled its ultra-sporty Civic Concept at the New York International Auto Show as the brand prepares to launch its completely reimagined 10th-Generation Civic models beginning this fall.

Honda Clarity proves hydrogen future always costs $500/month

How do you price the only car in its class? The closest thing to a Honda Clarity is the Toyota Mirai. They're both hydrogen-powered sedans, but one seats five and the other only four (the Mirai loses out, there). The only other hydrogen-powered vehicle available in the US, the Hyundai Tucson CUV, is, well, a CUV. So, really, there's no direct competitor to the Clarity. But you wouldn't know that from the price tag. Speaking this morning at the Washington Auto Show, Honda executive vice president John Mendel announced that the Clarity will have an MSRP of around $60,000 and will lease for "under $500" a month. As with other Honda vehicles, the exact numbers won't be made public until closer to the vehicle's launch date, but we assume things won't change too much. For those keeping track, those Clarity numbers are pretty much exactly what the Mirai costs. That car costs $57,500 and leases for $499/month. The Tucson can only be leased, but it, too, costs $499 a month. The Mirai and Tucson also come with free hydrogen. Honda didn't say today if the Clarity will include that bonus, but since not all hydrogen stations in California - the only place where the Clarity will be available for now – work like standard pumps, there's a good chance new hydrogen Honda owners will be able to fuel for free, too. We'll know more when the Clarity actually goes on sale – and it will be for sale and lease – later this year. Related Video: Honda Shares Clarity Fuel Cell U.S. Pricing and Sales Plans Jan 21, 2016 - WASHINGTON, D.C. Five-passenger Clarity Fuel Cell sedan slated to launch in California before the end of 2016 Expected price around $60,000 with a targeted monthly lease under $500 Next-generation Honda FCV provides significant gains in packaging, interior space and real-world performance, including an anticipated driving range in excess of 300 miles Additionally, the platform underpinning the Clarity Fuel Cell will serve as the base for a next-generation Honda plug-in hybrid to launch in the U.S. by 2018 Honda today announced the company's plans for U.S. sales of its new 5-passenger, hydrogen-powered Clarity Fuel Cell sedan at the 2016 Washington, D.C. Auto Show. Slated to begin retail leasing to customers in select California markets before the end of 2016, the Clarity Fuel Cell is expected to be priced around $60,000 with a targeted monthly lease under $500. Honda expects limited volumes in the early stages of production.