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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.

Acura NSX will use Cosworth block, plus other neat tidbits

The blue NSX you see here was built just two weeks ago. Prototype number six, it rolled off Acura's newest assembly line in Ohio and was rushed out to the Monterey peninsula for various car week activities. We had a chance to sit down with several members of the NSX team to discuss the car, the long road from concept to production, and some interesting details. Below are some choice bits from our conversations. Acura is pretty proud of the fact that NSX version 2.0 was designed and is being built in the US. The new assembly line, called the Performance Manufacturing Center, is in Honda's hometown of Marysville, Ohio. While the line is brand new, the building has seen many uses over its lifetime, most recently as a warehouse facility. PMC staff numbers about 100, with 60 technical and 40 non-technical associates. The car uses parts sourced globally, and one of those sources is Cosworth. The engine blocks and heads come from the English firm and get assembled into twin-turbo powerhouses at Honda's nearby Anna, Ohio, engine plant. The Cosworth name is rarely associated with a bad engine, so we were geeked to hear the NSX's 550-plus-horsepower hybrid powertrain has good genes. Acura hasn't decided how many cars will come to the US each year, but supplies will be limited. We're told there is a total figure for global sales – basically anywhere Honda and Acura vehicles are sold – but they're not ready to divulge that number. Dealer allocation is also yet to be sorted out, although we're told that any dealer that has the necessary tools and equipment to service the new NSX will be able to sell them. Acura currently has 272 US dealers. The switch from the transverse engine originally planned to a longitudinal twin-turbo engine threw everyone involved for a loop. The designers had to lengthen their nearly finalized design, and the engineers working on the production process had to revise or redo much of their work. Though we've been waiting a while for the car since the concept first surfaced in 2012, it's pretty amazing to think that the car was engineered one and a half times and a new factory was built in about three years. But yeah, it's delayed, with series production now set to commence in the spring of 2016. One result of the switch to a longitudinal engine is a transmission hump in the cargo area aft of the engine. The hold is still sized to fit a bag of golf clubs, though it will be a tight fit.

Honda bringing Civic hatchback concept to Geneva

Honda will give us another taste of things to come for the Civic next month at the Geneva Motor Show where the Japanese automaker will unveil a new hatchback concept. Following the Civic sedan revealed last September and the Civic Coupe unveiled in LA, the concept will preview the hatch's stubby liftgate. The five-door has traditionally been reserved for markets overseas, but the manufacturer confirms that "the car will be exported to global markets, including the US." As you can see from this teaser rendering, the hatchback will incorporate a similar taillight design to the versions we've already seen. The rear end will also feature a pair of tailpipes mounted side by side at the center, and what look to be some rather large vents in the rear bumper. The trailing edge of the roof appears to incorporate some aerodynamic elements to it as well. Of course this is just a sketch for a prototype, so the finished product will end up looking a little different once it reaches production early next year. Alongside the Civic hatch, Honda will also display the Clarity Fuel Cell Vehicle for the first time in Europe. The new NSX will also be on hand at the Geneva Motor Show, as will a customized Jazz/Fit concept dubbed Keenlight, and the new CRF1000L Africa Twin motorcycle. HONDA CIVIC HATCHBACK PROTOTYPE SET FOR WORLDWIDE DEBUT AT THE 2016 GENEVA MOTOR SHOW - Global premiere of Civic Hatchback Prototype redefines Honda's core European model - Clarity Fuel Cell to make European debut - European customer deliveries of NSX to start in 2016 - New Jazz concept turns on the style Honda is set to unveil the next step in the renewal of its European car range at the 2016 Geneva Motor Show, including the global premiere of the Civic Hatchback Prototype. Civic Hatchback Prototype The Civic Hatchback Prototype receives its global premiere at Geneva Motor Show, previewing the exterior design of the all-new hatchback model, scheduled for a European launch in early 2017. Produced at Honda of the UK Manufacturing (HUM), the car will be exported to global markets, including the US. Clarity Fuel Cell The Clarity Fuel Cell will make its European debut at Geneva, following its global unveil at Tokyo motor show in October last year. Clarity Fuel Cell is the world's first production fuel cell saloon to house the entire fuel cell powertrain under the bonnet.