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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.

A look inside Honda’s “Safety For Everyone” research and development operation

RAYMOND, Ohio—As part of its long-running “Safety for Everyone” campaign, Honda has established the audacious goal of what it calls a “zero-collision society.” But rather than making big claims about developing a fully-autonomous vehicle, which Honda hasnÂ’t done, the company is trying to chip away at the more than 37,000 vehicle-related fatalities that occurred in the U.S. in 2017 with a multi-pronged approach. Here in central Ohio, engineers are working with state-of-the-art facilities and equipment to boost active safety systems like its HondaSensing suite of safety technology with old fashioned passive systems like structural steel frames or new airbag designs that protect passengers in a crash. Honda provided members of the press with a rare tour inside its Honda R&D Americas headquarters this week. Honda officials say that increasingly, safety — and specifically, third-party ratings from the likes of the National Highway Safety Traffic Administration and the Insurance Institute for Highway Safety — figure into the top three factors consumers weigh when purchasing a vehicle. Honda and Acura have 10, 2019 models that have earned IIHSÂ’s Top Safety Pick or Top Safety Pick+ ratings, and all 15, 2019 model-year Honda and Acura vehicles that have undergone NHTSA crash testing have earned a 5-star overall rating. And Honda prides itself on its growing list of safety firsts, including the first upward-deploying front passenger airbag, in 1990 in the Acura Legend; first omni-directional crash-test facility, in 2000; and the first autonomous braking system, in the 2006 Acura RL. It hopes its new three-chamber airbag goes industry-wide and joins that list. “ItÂ’s part of our companyÂ’s culture,” said Art St. Cyr, business head unit and vice president of auto operations for American Honda Motor Co. “We have a philosophy at Honda that we want to be a company that society wants to exist. That means we have to protect our customers. ThatÂ’s part of the whole mantra of doing this.” Opened in 1984, the 1.6 million square-foot Honda R&D Americas facility, located in the countryside about 45 miles northwest of Columbus, employs around 1,600 people and is HondaÂ’s largest research-and-development facility outside of Japan. Its Advanced Safety Research facility opened in 2003.

Weekly Recap: Ferrari looks to reclaim old success with new manager

Clearly, Ferrari doesn't race for fourth place, and this week, major changes continued at the Scuderia. It was a rough year for Ferrari, and the Scuderia conducted its season-ending tests in Abu Dhabi this week with a view toward a fresh start in 2015 with new leaders and a new ace driver. Though plenty of other Formula One teams were disappointed with their finishes in 2014, Ferrari was perhaps the most eager to put this season in its rear-view mirror. The Scuderia finished a distant fourth in the Constructors standings with 216 points, well behind No. 1 Mercedes (701 points), and Ferrari failed to win a single race as the Silver Arrows dominated the grid. It was an especially bitter pill for a team that claims 16 Constructors championships and 15 Drivers titles – the most in history – and is the only surviving team from F1's first season, 1950. Clearly, Ferrari doesn't race for fourth place, and this week, major changes continued at the Scuderia. Ferrari named Philip Morris executive Maurizio Arrivabene as team principal. He replaced Marco Mattiacci, who held the job for only seven months after taking over for Stefano Domenicali, who resigned in April amid the Scuderia's early-season struggles. Phillip Morris (through its Marlboro brand) is a key Ferrari sponsor, and that played a role in Arrivabene's ascension. Still, he's no stranger to F1, and has been intimately involved in the Ferrari-Marlboro partnership. He also has served as the sponsors' representative on the FIA's F1 Commission since 2010. In a statement, new Ferrari chairman Sergio Marchionne said: "We decided to appoint Maurizio Arrivabene because, at this historic moment in time for the Scuderia and for Formula One, we need a person with a thorough understanding not just of Ferrari, but also of the governance mechanisms and requirements of the sport." Arrivabene's background is primarily in marketing and communication, and most recently he held the title of vice president of consumer channel strategy and event marketing for Philip Morris. He has been with the company since 1997. Arrivabene now leads a team that's rife with change. Marchionne took over in October when longtime boss Luca di Montezemolo quit in a disagreement about Ferrari's future, and the company itself will be spun off from parent Fiat Chrysler Automobiles in 2015.