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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.

Average new-car fuel economy figures continue record pace

Manufacturers are making more efficient cars and trucks; we've known that to be true for some time. Nearly every new car has some sort of trick to eke a few extra miles out of every gallon of fuel. Whether that be turbocharging, active aerodynamics or hybrid technology/electrified powertrains, the fact is that our vehicles are more efficient than ever before.
Thanks to a recent study by TrueCar, we've got fresh quantitative data to support the above statements. For the fourth month in a row, we've seen an improvement in national fleet fuel economy. We Americans are 0.7 miles per gallon more efficient than we were last month, and our cars are 1.6-mpg better than at this time last year. That said, we're still down on 2013's high, which was set back in January at 24.5 mpg.
Not only does this reflect the improved technologies in our vehicles, but it demonstrates a changing mindset among consumers, who are purchasing more efficient vehicles despite the relative stabilization of fuel prices. Every fuel-efficient model sold drives its manufacturers fleet average up.

The glorious return of the Civic Type R

This is it Honda fans, the moment you've all been waiting for. This is the new generation Civic Type R that will finally come to the US. Or at least it pretty much is. Technically this is still a prototype, and the production model will be shown early next year. However, based on Honda's recent Civic "concepts," you can rest easy knowing nothing major is going to change. The biggest change you'll probably see is in paint finish. The concept here has been given an interesting brushed aluminum-look vinyl wrap. If you're really have to have it, there's probably a decal shop nearby that could hook you up. View 22 Photos Moving past that, the Type R takes the standard hatchback and adds aggression rather than lightness. The front bumper is widened with extra slats, along with the fenders front and rear. It also gets a deeper chin spoiler in bare carbon fiber with a red accent stripe. Up on the hood is the intriguing addition of a scoop. We assume it's functional, and we imagine it feeds a top-mounted intercooler like the scoops on the Subaru WRX and last Mazdaspeed3. According to rumors, the engine under the scooped hood could produce as much as 340 horsepower. The sides of the car also get carbon fiber side skirts to go along with the front spoiler. The widened fenders accommodate fat wheels shod with 245 width tires. This leads to the back where the Type R once again receives an over-the-top rear wing, which we assume to be just as functional as the last one. The rear of the Type R also gets one more cool feature. It has functional, triple tailpipes, just like the Ferrari 458 Italia and the F40. Honda also brought attention to the exhaust by painting the center pipe red. We don't yet know the exact purpose of the third pipe, but we're excited to find out. As previously mentioned, this is just a "concept" and the production model will be shown early next year. After that, the Type R will be released in Europe first during the second half of 2017. US availability has not been announced yet. Related Video: Related Gallery Honda Civic Type R Concept Paris Motor Show Image Credit: Live photos copyright 2016 Drew Phillilps / Autoblog Paris Motor Show Honda Hatchback Performance honda civic type r hot hatch 2016 paris motor show civic type r hot hatchback