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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 Vision Qe concept will preview the brand's first EV

Infiniti released a dark preview image to give us an early look at its next concept. Called Qe, the design study will make its debut in October 2023 and provide a glimpse at what the Japanese brand's first series-produced electric car will look like when it lands later in the 2020s. Details about the Qe concept are few and far between, and the dark picture published by Infiniti leaves a lot to the imagination. It shows light reflecting on what looks like a fastback-like silhouette, so we know we're not looking at a convertible or at a big, burly SUV like the QX80. We think we see four doors, but the bottom part of the car is obscured so it's too early to tell whether this is a low-slung sedan or a crossover. Out back, a rear light bar is seemingly integrated into a spoiler that's positioned above backlit "INFINITI" lettering. We'll need to be patient to find out more, but an earlier report casts a little bit of light on what to expect from the Qe. Although unofficial, it details four new Infiniti models due out in the coming years, and two are electric. The first is a replacement for the Q70. It will reportedly land by the end of 2026 as the brand's first electric car, and it will feature shorter overhangs as well as a longer wheelbase than its predecessor, which retired in 2019. The second was described by insiders as "a midsize crossover." That's all we know, but odds are the Qe previews one of these two EVs. Infiniti will fully unveil the Qe on October 24, 2023. It also pledged to announce "several stunning new models" at the unveiling event. We're notably expecting to learn more about the next-generation QX80, which was previewed by the QX Monograph concept in August 2023.

Analyzing De Nyscchen's 25-year comeback plan for Infiniti

"It took us 25 years to bring Audi back in the US. This kind of thing takes a long time."
When Johan De Nysschen left his post at Audi of America last year to take the seemingly thankless job of leading Infiniti's global operations, it seemed like a familiar scenario. Like Michael Dukakis going from one of two men that could have won the White House to teaching political science at an obscure Florida college.