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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.

2014 Honda Ridgeline keeps on truckin' with new special edition model

Like many smaller trucks, the Honda Ridgeline has been left to stagnate on the market for far too many years. With production of the current model reportedly winding down later next year before production of the next-gen model picks up in 2016, Honda is sending the 2014 Ridgeline out with some style courtesy of a new Special Edition trim level.
The new Ridgeline SE essentially adds cues from the Ridgeline Sport to the luxurious RTL trim level. The means features like black-trimmed 18-inch alloys and matching interior trim arrives as a no-cost option. This new model carries the same starting price as the RTL at $37,505 (*not including $830 for destination), and all other trim level pricing is carried over unchanged from the 2013 model year. The new SE model won't be available until November, and it is not pictured in the image galleries (all of which seem to be identical to previous model years).
Speaking of carryover products, Honda has also released pricing for the unchanged 2014 Pilot and 2014 Acura TL, which will continue to be priced from $29,670 and $36,030, respectively (Acura's destination charge is $890). Scroll down for press releases on the 2014 Ridgeline, Pilot and TL.

Turbo Honda S2000 could battle Miata and 124 Abarth

Rumors are again swirling that Honda could have a new sports car under development to slot below the forthcoming NSX. Autocar claims the model would revive the S2000 name, but offer 1.5- and 2.0-liter turbocharged units at the front to drive the rear wheels. Autocar alleges this info comes from unnamed "company insiders," and asserts the new S2000 could have a base model with a 1.5-liter turbo that makes about 180 hp – almost 60 hp down from the original convertible. However, a hotter version – possibly with Type R badging – would reportedly have a detuned form of the 306-hp 2.0-liter in the Civic Type R. Both trims would have a six-speed manual. Competing rumors contend that Honda could be developing two different performance models. Patent images suggest the company might have a smaller version of the NSX under consideration in addition to the rumored S200 revival. The mid-engine coupe would allegedly use a hybrid powertrain based on the Civic Type R's engine to make a total of about 400 hp. However, Autocar claims the S2000 successor has the higher priority of the pair, but it doesn't mention where the info comes from. The Honda S660 kei car on sale in Japan shows that the brand is willing to dabble in new sports cars, but that convertible isn't practical for the US market, according to the automaker's bosses. Dealers meanwhile continue to beg a performance model in the lineup, so it's possible one of these rumored projects eventually could arrive in showrooms. Related Video: