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Major automakers post mixed US June sales figures
Mon, Jul 3 2017General 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.
The mood at this year’s Paris Motor Show: Quiet
Tue, Oct 2 2018The Paris Motor Show, held every other year in the early fall, typically kicks off the annual cavalcade of automotive conclaves, one that traverses the globe between autumn and spring, introducing projective, conceptual and production-ready vehicle models to the international automotive press, automotive aficionados and a public hungry for news of our increasingly futuristic mobility enterprise. But this year, at the press preview days for the show, the grounds of the Porte de Versailles convention center felt a bit more sparsely populated than usual. This was not simply a subjective sensation, or one influenced by the center's atypically dispersed assemblage of seven discrete buildings, which tends to spread out the cars and the crowds. There were not only fewer new vehicles being premiered in Paris this year, there were fewer manufacturers there to display them. Major mainstream European OEM stalwarts such as Alfa Romeo, Fiat, Nissan and Volkswagen chose to sit out Paris this year, as did boutique manufacturers like Bentley, Aston Martin and Lamborghini. This is not simply based in some antipathy on the part of the German, British and Italian manufacturers toward the French market — though for a variety of historical and societal reasons that market may be more dominated by vehicles produced domestically than others. Rather, it is part of a larger trend in the industry. Last year, Mercedes-Benz announced that it would not be participating in the flagship North American International Auto Show in 2019 — and that it might not return. Other brands including Jaguar/Land Rover, Audi, Porsche, Mazda and nearly every exotic carmaker have also departed the Detroit show. Some of these brands will still appear in the city in which the show is taking place, and host an event offsite, to capitalize on the presence of a large number of reporters in attendance. And even brands that do have a presence at the show have shifted their vehicle introductions to the days before the official press opening in an attempt to stand out from the crowd. In many ways, this makes sense. With an expanding number of automakers, with diversification and niche-ification of models and with wholesale shifts that necessitate the introduction of EV or autonomous sub-brands, there is a growing sense that, with everyone shouting at the same time, no one can be heard.
2015 Nissan Murano: Introduction [w/video]
Tue, Apr 28 2015Right as winter turned to spring, a 2015 Nissan Murano was added to the Autoblog long-term test fleet. And while we'd like to report that it's been nothing but smooth sailing, the truth is, as we wrote this, the Murano was undergoing its second stint in the service bay at Suburban Nissan in Troy, MI. It only had 2,400 miles on the odometer. In fact, that's part of the reason why it's taken us so long to introduce this new member of the long-term fleet. After driving the new, third-generation Murano late last year, where we learned that Nissan thinks of its stylish crossover as the flagship for the brand, we decided to order one for a full year's worth of testing at Autoblog HQ. Right from the start, our Murano had problems. At 227 miles, the Check Engine Light illuminated. With no warning messages displayed in the car's onboard infotainment system, we took the Murano to the dealer, where a diagnostic check revealed a faulty O2 sensor. A new part was ordered and we were sent on our way. The Murano went back to the dealer, and now, that issue has been resolved. About 100 miles after the O2 sensor failed, the small storage cover on the center console broke. We aren't really sure how, since this small cubby hasn't had a whole lot of use. Rather than explain it in words, see what's going on in the video below. That's not the only issue we've had with the interior, either. We sort of expected the light, almost white leather to show signs of age during the year-long test, but even after just 2,400 miles, the seats are starting to look worn, with obvious discoloration showing on the driver's seat. What's interesting is, we never had this problem with the light-colored leather on our long-term 2013 Pathfinder. Beyond that, parts of the Murano's interior generally feel poorly put together. The door panels pull away upon light tugging (while closing the door, for example), some of the plastics creak, and we've noticed a few small rattles. Some of this is pretty alarming, especially considering the low mileage of our test car. But it stands to reason that these problems could've been baked in from the start. We're told our car had a couple of issues prior to delivery, and we've heard rumblings from other journalists that their test Muranos haven't been up to snuff. Our early impressions of the Murano were generally positive.
