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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.

Infiniti will reinvent its models, tech and design language as part of reboot

Infiniti raised more than a few eyebrows when it announced plans to follow a strategy it described as Nissan-Plus. Although this term suggests the brand's image will be dangerously watered down, its chief executive stressed its flag will remain firmly planted in the luxury car segment as he outlined what to expect in the coming years. The executive team led by Infiniti boss Peyman Kargar will reboot the company with a focus on profitability. "Premium brands should bring more money to the company, so that's the objective. We are not at the level we want to be," he told Automotive News. Several new products are on their way, including a crossover with a fastback-like roofline named QX55, and Kargar clarified many future models will ride on an architecture shared with parent company Nissan. It will be compatible with gasoline-powered, hybrid and electric drivetrains. He explained sharing platforms and components is necessary to save money because the company, like its peers and rivals, is spending a small fortune on developing electrified, autonomous, and connected technology. The shift will likely spell the end of the driver-friendly rear-wheel drive platform found under the Q50 and the Q60, but don't expect Infiniti to put its emblem on, say, a Sentra, and call it a day. It will remain a luxury brand. "The objective is to use these assets of the company, and then to reinject the money we are saving into the luxury experience and ingredients of Infiniti. We will put more money into Infiniti's future, but this money will come from the savings in globalized platforms," Kargar explained. The strategy he's outlining is one many of the firm's competitors have already adopted. Lexus, Acura, and Audi all build cars using parts sourced from their respective parent company. Lamborghini's Urus is related to the Volkswagen Touareg under the sheetmetal. Kargar noted every upcoming new model will be defined by an overhauled design language. We don't know if recent concept cars (like the QX Inspiration introduced in Detroit in 2019; pictured) will influence its upcoming vehicles. However, its future cars will offer nicer interiors, more user-friendly infotainment systems, and they'll receive tech features before Nissan's variants get them, which, oddly, hasn't always been the case in recent years. Infiniti's turn-around will start in 2020, when the aforementioned QX55 makes its debut after a brief delay.

2022 Infiniti QX60 pricing starts just under $48,000

Just a month after being revealed, the 2022 Infiniti QX60 has pricing. The base model starts at $47,875, which is $2,500 more than the outgoing model. The model line spans four trims, Pure, Luxe, Sensory and Autograph. Each one comes standard with front-wheel drive with all-wheel drive as an option. Adding all-wheel drive adds $2,000 for all trims except the Autograph, which costs $2,900 as it includes the tow package with a hitch, hitch wiring and transmission oil cooler. You can see the base prices for all trims below, and the crossover goes on sale this fall. Pure: $47,875 Luxe: $53,925 Sensory: $57,375 Autograph: $61,375 The QX60 comes pretty well equipped even at the base level. On the outside, it has 18-inch alloy wheels and LED headlights and taillights. Inside it has a 12.3-inch infotainment screen, nine-speaker sound system, power hatch, panoramic sunroof, leather first- and second-row seats, front seats with heat and power adjustment and three-zone climate control. Some of the safety features include front and rear automatic emergency braking, blind-spot warning and rear parking sensors. Moving up to Luxe adds 20-inch wheels and roof rails outside. Inside it gets a 12.3-inch instrument display panel, heated and cooled seats. Tech upgrades include navigation, ProPilot Assist highway and stop-and-go assistance, surround-view cameras, traffic sign recognition and remote start. Sensory focuses on the interior with massaging front seats, heated outboard second-row seats, power-folding third-row seats, wireless phone charging, motion-sensing power hatch, open-pore wood trim, ambient lighting and a Bose 17-speaker sound system. The top-rung Autograph has a number of exclusive upgrades. The exterior features a black roof and roof rails. The interior gets semi-aniline leather, captain's chairs in the second row with a removable center console, 10.8-inch head-up display, camera-display rearview mirror and adaptive headlights. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.