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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.

Recharge Wrap-up: Video shows Tesla robots at work, Ghosn disappointed by China's EV market

A video from The Wall Street Journal shows Tesla's new assembly robots at work. The hulking bots are each named after X-Men superhero characters to give them a sense of familiarity and make them less intimidating to the humans working alongside them. Their monikers also reflect their superhuman levels of strength. The naming of the robots appears to have had the intended effect, as human employees refer to the automated machines as colleagues, and are happy to have the help moving the heavy cars around the factory floor. The robots were added as part of an upgrade and expansion to Tesla's factory in Fremont, CA last year. See the video above, and read more at Teslarati. Nissan CEO Carlos Ghosn says that China should offer more incentives to improve disappointing EV sales. Nissan sells its Leaf EV in China as the e30 under its Venucia brand. The company didn't disclose sales figures, but Ghosn is disappointed that EVs aren't "taking off" in China like they are in other markets. Until the market improves for the e30, Ghosn says Nissan probably won't introduce other EVs to China. "The main challenge today is really to encourage, put more incentives, in order for the consumer to buy in," says Ghosn. "Before adding more cars and bringing more technology, we just need to make sure we can sell the technology we already put into the ground." Read more at Automotive News. Total in France will convert its La Mede petroleum refinery to produce biodiesel. Total will stop producing petroleum at the refinery by the end of 2016, then spend $216 million to convert it into the country's first biorefinery. Improved fuel economy and energy efficiency have helped reduce demand for petroleum products in Europe by 15 percent since 2008. Total's response to "the crisis in the European refining industry" is "to innovate and adapt to meet shifting demand trends," according to Total CEO Patrick Pouyanne. "The central focus of Total's plan for our French refining business is to realign our operations and products to changing markets." Read more at Domestic Fuel, or in the press release below. Total's French Refining Roadmap: Upgrade Donges and Transform La Mede April 16, 2015 Paris – Total today presented its French refining roadmap to employee representatives. The plan is designed to give each Total's refining site in France the means to resist in a volatile environment and perform profitably.

Renault invests in French electric car plant upgrade

PARIS — Renault will invest more than 1 billion euros ($1.2 billion) to increase electric vehicle production capacity in France and add new models, the carmaker said on Thursday. The Zoe production line in Flins, west of Paris, will double its maximum output with the battery-powered subcompact's next upgrade, the company said in a statement, and its northern Douai factory will tool up to build electric cars on a new architecture shared with Japanese affiliate Nissan. "The acceleration of our investments in France for electric vehicles will increase the competitiveness and attractiveness of our French industrial sites," said Renault Chairman and Chief Executive Carlos Ghosn, who also chairs Nissan and Mitsubishi Motors and heads the carmakers' three-way alliance. The Cleon plant will triple its electric motor production capacity, while Maubeuge in eastern France receives tooling investment for the next Kangoo van including its electric version, Renault said. Reporting by Laurence Frost. Related Video: Image Credit: REUTERS/Jacky Naegele Green Plants/Manufacturing Nissan Renault Electric