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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.

Autotrader picks best cars for 2015's college grads

Summer is here and the school season is winding to a close. That means millions of students will be graduating college and (hopefully) entering the workforce. For many, that will mean buying a new car suited to the new stage in life into which they will now be embarking. That can be a bewildering choice, especially for someone who's never bought a car before. Fortunately, Autotrader has come up with a short list of recommended cars – new and used – which it recommends to the graduating class of 2015. Among the site's top choices are some compelling crossovers and hatchbacks, including the Buick Encore, Chevy Trax, and Jeep Renegade, as well as the Honda Fit, Nissan Versa Note, Mazda3 and Fiat 500. Can't stretch to buying new, or don't see the point? Autotrader has also identified the Toyota Camry, Ford Fusion and even the Lexus IS as smart buys in the certified pre-owned category. "Any time someone goes through a major life change, such as graduating college, they need to determine if their current ride makes sense for their lifestyle, from both a financial and functional perspective," says Autotrader editor Brian Moody. "For example, while that hand-me-down SUV from your parents was nice when you turned 16, you may want to opt for a safer, more fuel-efficient car as you transition into the working world." Autotrader Names 10 Best Cars for Recent College Graduates ATLANTA, May 28, 2015 /PRNewswire/ -- For many, graduating college is a milestone like no other – it represents a new chapter, a proud accomplishment and, fortunately or unfortunately, financial independence. Luckily for graduates who are in the market for a new car to suit their post-college lifestyle, Autotrader's expert editors say now is a great time to make a purchase, as dealerships are flush with affordable models that are fun, fuel-efficient and thoughtfully designed. Autotrader Logo "Any time someone goes through a major life change, such as graduating college, they need to determine if their current ride makes sense for their lifestyle, from both a financial and functional perspective," said Brian Moody, site editor for Autotrader.

Honda, Acura lay out future plans: HR-V and more coming in 2022

Automakers and PR representatives are notoriously tight-lipped about upcoming vehicles. The infamous line that all of us in the car news business are familiar with is, "We cannot comment on future product." But this week, Honda opened up a little bit and laid out its big reveals for the coming year, and it's going to be a busy one. It all starts with the 2023 Honda HR-V, shown in the renderings above. The company didn't share a whole lot of details since it was focusing on the broad product plans, but it did note that it will be "unique to North America." It's not clear if it's just styling, which is abundantly obvious compared to the European HR-V and Japanese Vezel shown below, or if it will have a different platform and powertrains. We suspect the latter, since looking at the renderings, not only does it have a meaner, more aggressive look, but the glass in the greenhouse is different, as are the door handles. The HR-V is only the start of the big product rollout. More SUVs follow starting with the new CR-V, and then the new Pilot. A new Accord is coming, and of course there's the imminent Civic Type R. Acura's rollout is a bit more modest, with the big launches being the new Integra and the Type-S version of the MDX. Honda HR-V / Vezel View 11 Photos Plug-in hybrids aren't part of the plan There's one thing that Honda isn't including in its plans, and that's plug-in hybrids. When asked why, American Honda's executive Vice President of National Operations Dave Gardner noted that public and governmental feelings have moved from just reducing emissions to eliminating them entirely. As such, the time and effort to develop plug-in hybrids doesn't make sense when that could be applied to fully electric cars. Conventional, non-plug-in hybrids are still planned, and Honda is expecting ever increasing hybrid sales in the next few years. The company is expecting half of Accord sales will eventually be hybrid. As for Acura, hybrids aren't planned to be a big part of sales, with the brand jumping straight to EVs. Speaking of EVs, Honda's first North American electric car is still planned to be the Prologue. It's the electric model that's going to be based on a General Motors product. It's slated for the 2024 model year, and Honda is anticipating around 70,000 annual sales for it to start. Acura will get a counterpart to the Prologue, which may be named ADX. Related video: