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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.

2017 Infiniti QX30 beefed up and ready for LA debut

Infiniti has released the first details and photos of its new compact crossover. Dubbed the QX30, the latest addition to the premium lineup is set for parallel debuts at the upcoming auto shows in Los Angeles and in Guangzhou, China. And with it, the luxury automaker is going after a younger demographic. Previewed by the QX30 concept unveiled earlier this year in Geneva, the new crossover joins the Q30 hatchback in Infiniti's new "entry-level" model line. Set to be produced at Nissan's mega factory in Sunderland, UK, the QX30 will be the first Infiniti to be built in Europe. But as you might discern from its introduction in LA, it'll form a vital part of the brand's strategy for the US market as well. The design looks instantly recognizable as an Infiniti, looking almost exactly like the Q30... only more rugged. Apart from the increased ride height, suitably ruggedized lower bodywork, and telltale (but slimline) roof rails, it adopts the same curvaceous, organic lines as the hatchback, and signature double-arch grille and kinked C-pillar as you'd expect from any modern Infiniti. The Japanese automaker has yet to show us much of the interior, but it promises an asymmetric design, premium materials, and ergonomic surfaces. Nor has Infiniti revealed much in the way of technical details. What it has told us, however, is that the new QX30 will encompass an all-wheel-drive system capable of sending up to 50 percent of output to the rear wheels, running through a seven-speed dual clutch transmission. Availability of diesel and gasoline engines will depend on the individual market. If its lower-riding stablemate is anything to go by, we should be looking at a 2.0-liter turbo four producing 208 horsepower and 258 pound-feet of torque. Technical specifications are due to be announced closer to its market introduction in the middle of next year. At that point, rivals like the Mercedes GLA, Audi Q3, BMW X1, and Lexus NX will be put on notice as Infiniti joins an increasingly competitive market for premium compact crossovers.

Infiniti aims to "de-Americanize" lineup, add flagship

Nissan launched Infiniti back in 1989 as a US brand, but more recently, Nissan's luxury marque has started focusing on more of a global presence. With a new global headquarters set up in Hong Kong and former Audi bigwig Johan de Nysschen at the helm, Wards Auto is reporting that the automaker's next goal is to create a "de-Americanized" lineup of vehicles.
This plan essentially consists of smaller cars and smaller-displacement engines to make Infiniti more attractive for buyers in Europe and Asia - two regions that tend to skew more toward smaller vehicles and smaller powerplants. To this point, Infiniti has been focused on vehicles better-suited to the US market - in fact, its smallest engine is a 3.7-liter V6 with 330 horsepower, and it doesn't offer a single diesel.
The first step in this transformation will be part of the Daimler-Nissan engine deal that will see a four-cylinder diesel eventually used in the 2014 Q50, but the report also reconfirms the importance of the soon-to-arrive Q30 production model (a concept of which was revealed last week in Frankfurt), along with the idea of a QX30 based on the Nissan Qashqai. There's also the latest projection of a full-electric Infiniti model that Wards says will debut sometime around 2015. Of course, Infiniti isn't giving up on large cars entirely - the reports indicates that Infiniti is planning a fullsize flagship model - possibly named Q80 - to compete against German sedans like the Audi A8, BMW 7 Series and Mercedes-Benz S-Class.