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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.

2021 Infiniti Q50 and Q60 recalled for stalling issue

Infiniti is recalling 2021 Q50 sedans and Q60 coupes due to faulty engine-management software. The issue is with the engine control module (ECM). After rapid acceleration, the ECM can reduce the fuel supply to the engine too much, resulting in the engine going into limp-home mode and possibly stalling. A total of 12,943 cars are affected by the problem. Infiniti will commence the recall on May 25. Owners will be notified and asked to bring their cars in for software reprogramming. The fix will be performed at no cost. Owners who are concerned about the issue can reach out to the manufacturer at 1-800-662-6200. Infiniti's reference number for this recall is R20C5. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Infiniti to offer pair of designer Q50 sedans on Gilt.com

As Infiniti continues to roll out its 2014 Q50, the luxury branch of Nissan is looking to the online luxury purveyors at Gilt to move a couple of special editions of the new luxury sedan. Infiniti has teamed with designers Thom Browne and Zac Posen to create a pair of unique Q50 models, as part of the sale.
The exterior of Browne's car is finished in nearly reflective chrome. Now, we'd love to hold that against him (it's a bit too Bieber), but we think the interior that includes the designer's signature red, white and blue stripes and sterling silver accents is a bit classier. Posen's Q50 is more subdued, with a shades that seem to blend into each other. This ombré look starts in a light silver matte up front before terminating in a glossy, dark gray in back. We know plenty about the appearance of these two cars, but we're kind of in the dark about which powertrain they feature.
Rather than just throw these up on the web and pocket the profits, Infiniti is doing it right. It'll donate proceeds from each car's $75,000 sale price to St. Jude Children's Research Hospital. As for the people that shell out $75K for the unique Q50s? Not only will they get a new vehicle, but they'll be gifted a $10,000 shopping spree on Gilt, along with a "style consultation."