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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 Prototype 10 concept to debut at Pebble Beach

Last year, Infiniti launched its gorgeous Prototype 9 concept at the Pebble Beach Concours d'Elegance. It was an open-wheel, retro-styled car inspired by Grand Prix racers of old. Just as important as its design, though, was its powertrain. It was all-electric. This year, at Pebble Beach, Infiniti will return with a new speedster concept called Prototype 10. It, too, will be electrified. Teased in the above image, the open-cockpit Prototype 10 will be another single-seater steeped in classic design, though with looks the automaker describes as "cool, clean and forward-looking," borrowing some cues from the Infiniti Q Inspiration concept we saw at the Detroit Auto Show earlier this year. Karim Habib, Infiniti's executive design director, describes Prototype 10: The Infiniti Prototype 10 echoes the layout and design of some of the most evocative car designs of all time, where power was celebrated through high-powered single-seat competition cars. Our new concept speaks of an electrified future, something which is reflected in its form and details. It is appropriate that we found inspiration in an optimistic bygone era in which cars were characterized by the simple love of driving. Still, Infiniti leaves out most of the details about the car. We're curious what kind of "electrified" powertrain Prototype 10 will use, but the company plans to electrify its whole lineup beginning in 2021. It's possible Infiniti could tease further images and information, but we'll likely have to wait for its official unveiling at Pebble Beach on Aug. 23, which is right around the corner. If the last two concepts are any indication, this one should be a stunner as well. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Infiniti Green Infiniti Convertible Concept Cars Electric Hybrid Performance Pebble Beach

Infiniti Q60 to pack upwards of 400 horsepower

Infiniti turned heads when it unveiled the Q60 Concept at the Detroit Auto Show last month. While the concept coupe was revealed with a new 3.0-liter twin-turbo V6, the Japanese luxury automaker didn't indicate how much power it would produce. But now we may have our first indication. Speaking with an unidentified source at Infiniti during the Canadian International Auto Show in Toronto, AutoGuide reports that the production Q60 will arrive late in 2016 and pack at least 400 horsepower. A higher-output version of the same engine, however, could produce as much as 450 hp. That would still be significantly less than the Q50 Eau Rouge, which packed the larger 3.8-liter twin-turbo V6 from the Nissan GT-R with 560 hp. It would put it right on pace with the likes of the BMW M4 (with 425 hp) and perhaps more importantly, the Lexus RC F (with 450 hp). Related Video: