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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.

Apple uses Logitech steering wheels and pedals to control autonomous cars

SAN FRANCISCO (Reuters) - Apple outlined a plan to train operators of self-driving cars in documents submitted to California regulators earlier this month, the latest clues to the company's autonomous vehicle technology aspirations. Apple was granted a permit to test self-driving cars on April 14 by the California Department of Motor Vehicles but the company has never said anything about its plan. The state released 41 pages of Apple application documents to Reuters that give some clues about the company's highly secret self-driving effort, which it has never openly acknowledged. The iPhone maker joins a long list of carmakers, start-ups and technology rivals, including Alphabet's Waymo, that are testing cars on state roads. Apple is looking for new hit products and autonomous car technology is expected to revolutionize the traditional auto industry. As part of the application, Apple included a 10-page training plan that appeared to be related to operators taking back manual control of the car during automated driving exercises of the system, which it calls a development platform. Business Insider reports that Apple engineers riding in the back seats have the ability to take over control of the car using off-the-shelf steering wheel and pedal video game controllers from Logitech. Apple declined comment beyond the filing. The plan includes a document called "Automated System: Development Platform Specific Training Overview" whose objective is "to train safety drivers in various automated driving conditions." "Development platform will be controlled electronically (e.g. joystick) and safety drivers must be ready to intervene and take control," the document reads. The document highlights different scenarios to be tested, from high speed driving and tight U-turns to lane changes. One letter sent from Apple to the state Department of Motor Vehicles noted that Apple's development platform "will have the ability to capture and store relevant data before a collision occurs." The document does not include detail on how Apple's self-driving platform actually works or other technical details. It also does not say what kind of sensors are found on Apple's three permitted vehicles, all 2015 Lexus model RX450h. The permit does not necessarily mean that Apple itself is building a full car. Apple could instead be designing a self-driving platform that can be integrated into other manufacturer's cars. (By Alexandria Sage.

2021 Lexus RC F Fuji Speedway Edition debuts, but only 60 will be built

This generation of the Lexus RC (launched as a 2015 model) can’t be long for the world, but itÂ’s coming back around for the 2021 model year with some fresh new gear. The biggest news is the introduction of the RC F Fuji Speedway Edition. ItÂ’s limited to just 60 units and takes after the RC F Track Edition that debuted last year. Just like the Track Edition, the Fuji Speedway Edition adds Brembo carbon ceramic brakes, a titanium exhaust and has gone through an extensive weight savings program that includes a big dose of carbon fiber. The hood, roof, wing, front spoiler, rear-seat partition and bumper reinforcement are all made of carbon fiber. All these weight savings help the 0-60 mph time fall to 3.96 seconds, down from the 4.2 seconds of the standard RC F. YouÂ’ll be able to tell itÂ’s the Fuji Speedway Edition by its exterior paint and interior colors. It only comes in Arctic Blast Satin or Cloudburst Gray. Lexus provided one photo of the car in Arctic Blast Satin, but weÂ’re not getting the full effect here. ItÂ’s a new semi-matte paint finish thatÂ’s debuting on this special edition car. The satin finish is similar to the matte paints weÂ’ve seen on Lexus cars previously, but now itÂ’s durable enough to be run through automatic car washes without issue. When we drove the GS F 10th Anniversary Edition (equipped with LexusÂ’ previous generation matte paint) last year, Lexus specifically told us that it canÂ’t be run through a car wash. With this RC F, you can skip the hand wash if you donÂ’t feel like it. Every Fuji Speedway Edition car will also come with a Circuit Red leather interior and Alcantara accents. Red carbon fiber trim is added to make the interior feel even more special. As a final touch, Lexus is including a limited production MSTR watch with each car. It has Fuji Speedway and F logos, and also features red stitching on its band to match the interior. Lexus has given the standard RC F a couple worthwhile upgrades, too. Android Auto is now in the picture, joining Apple CarPlay and Amazon Alexa. Additionally, Lexus has made blind-spot warning with rear cross-traffic alert standard, alongside heated exterior mirrors and a memory driverÂ’s seat. Lexus also made parking sensors part of the Premium Package. Pricing is not yet available, but expect the Fuji Speedway Edition to come in around the $97,675 base price of the Track Edition. It might be even more considering the special paint Lexus added this year, too. Related video: