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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.

Honda's I Like Sports ad will have you reaching for your pom-poms

Autoblog editor Greg Migliore recently wrote a great piece looking at the burgeoning re-emergence of Honda as the performance brand. Now, the company is showing some reasons why that really might be the case, with a short ad from Japan titled I Like Sports. The commercial acts as a showcase for Honda's performance prowess on the street and around the track from the recent past, present, and the near future. The spot gives the company's models a chance to show why they are worth getting excited about. There are glimpses of vehicles like the Japan-only S660, upcoming Civic Type R, S2000, the preceding and forthcoming NSX, the MotoGP bike, and Formula 1 car. Despite being just a minute long, the ad does a great job at hinting at a brand that can appeal to people who want a little excitement during a drive.

Junkyard Gem: 1981 Honda Accord LX Hatchback

The first-generation Honda Accord was the kind of sales success that vehicle manufacturers dream of but almost never attain: a car so far superior to its competition that buyers had to shell out big markups and sit on waiting lists if they wanted to take one home. Nothing could touch the value-per-dollar you got with one of these cars back then, and they soldiered on for decade after decade. Most of them are gone now, worn out and thrown away, without much of an enthusiast community to restore them (with notable exceptions, of course). Here's an Amal Blue '81 LX hatchback I spotted in a Denver-area self-service yard last week. This one is pretty well loaded, with air conditioning, automatic transmission, AM/FM mono radio, clock, the works. Under the hood is the 1.8-liter CVCC engine in "49-state" emission-control configuration (California had stricter emissions standards than the rest of the country during this era). The vacuum-hose diagram for this car is a bit complex, but nowhere near as bad as the terrifying nightmare that CVCC owners faced a few years later. 1981 was the last model year in which all Accords sold in the United States were shipped over from Japan. The Voluntary Export Restraint agreement of 1980 resulted in Honda building its Marysville, Ohio, assembly plant, and second-gen Accords were American-made. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Because life isn't always a simple Sunday drive. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In Japan, the CVCC Accord got action-movie music in its ads. Related Video: Featured Gallery Junked 1981 Honda Accord LX View 19 Photos Auto News Honda