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The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

2020 Lexus UX Review & Buying Guide | Stylish and small, with a hint of Corolla

The 2020 Lexus UX is the smallest and cheapest Lexus out there, and with the UX 250h hybrid model, it’s mighty efficient, too. The UX was completely new last year, as Lexus finally entered the fast-expanding subcompact car segment. WeÂ’re impressed with the original design and quality of this least expensive Lexus, although there are some necessary compromises that were made along the way to achieve its low price. Voluminous interior space is obviously not a priority in this smallest luxury SUV segment, but the UX is nevertheless one of the least spacious. It's also far from the most fun to drive and is hampered by frustratingly slow acceleration regardless of powertrain choice. All-wheel drive can also only be had with the hybrid. In those ways, its European competition are handily superior. Still, Lexus has implemented some unique and new tech features in this crossover, not seen in other Lexus vehicles. The distinctive design and the hybrid systemÂ’s excellent efficiency are two other major selling points, and even if we wouldn't call the UX fun, its composed handling and comfortable ride yield a perfectly pleasant driving experience. What's new for 2020? The Lexus UX was totally new for 2019, so changes for 2020 are minimal. Lexus added Android Auto functionality (it already had Apple CarPlay). It's also added rear cross-traffic alert as an option to be packaged with the car's blind-spot monitoring system. What's the interior and in-car technology like? From the comfortable and supportive driver seat, the UX looks and feels like a proper Lexus. The design is consistent with, but, refreshingly, not a copy of other models. There are common details like the drive mode setting selectors that sprout from the instrument panel and the F-Sport's sliding gauge cluster within, while the available 10.25-inch infotainment display is perched atop a low, flat dash. The materials covering the dash and front doors are appropriate for this luxury price point and consistent with the ES 350, if not higher-priced Lexus models. By contrast, the hard plastic door panels in the rear are disappointingly more consistent with a Toyota Corolla. However, the UX features unique touches (we like the contrast-color dash and door trim available) and offers different controls than other Lexus models. The climate system is operated by unique toggle switches, while the air vents have little rotary controllers that look and feel better than those in a Lexus ES.

Lexus NX begins production in Japan [w/videos]

Lexus entered new territory this past April when it revealed the new NX compact luxury crossover at the Beijing Motor Show, but it wasn't until now that the Toyota luxury division actually started building them. The first production examples started rolling off the assembly line last week at the Miyata plant in Japan, with the accompanying turbo engines built at the adjacent Kanda plant.
The arrival of the NX marks both the first time that Lexus has produced a compact crossover - an increasingly important segment for luxury automakers - and the first time Lexus has offered a turbocharged engine, one of two options alongside the hybrid version. The NX builds on two previous competences exhibited by Toyota: one is the RAV4, which pioneered the compact crossover segment back in 1994, the other being the Lexus RX that was among the first luxury crossovers when it arrived in '97.
Lexus reports that it has already taken some 6,500 pre-orders in Japan alone, with many more coming in from markets around the world - including ours, where it is sure to be a key player for the Japanese automaker alongside the hot-selling RX. Watch the videos below to see the NX starting its production run in Japan.