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U.S. auto sales fall in July, as Detroit dials back on inventory, rental sales

DETROIT — U.S. carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets in July as General Motors, Ford and Fiat Chrysler Automobiles struggled to curb a slide in retail sales. July is on track to be the fifth straight month in which the annual pace of car and light truck sales declined from the same month a year ago, in part because of fewer fleet sales, analysts and industry executives said. July 2016 sales hit a strong 17.9-million-vehicle pace. GM said the seasonally adjusted annual sales rate fell to an estimated 16.9 million vehicles in July. At midmorning on Tuesday, GM shares were down 3.4 percent at $34.77, Ford was down 2.8 percent at $10.91, and Fiat Chrysler shares were down 0.3 percent at $12.05 in New York. GM sales dropped 15 percent from a year ago to 226,107 vehicles, as the company cut rental fleet sales more than 80 percent. The automaker said inventories of unsold vehicles at month's end were 104 days, down from 105 days at the end of June. GM has promised investors to reduce inventories to 70 days by year-end. Ford said its July sales dipped 7.5 percent to 200,212 vehicles, as it cut fleet sales more than 26 percent. Inventories fell to 77 days from 79 the previous month. Fiat Chrysler said sales dropped 10 percent to 161,477, as it also cut back sales to daily rental fleets. Among the top Japanese companies, only Toyota reported a year-to-year gain, with sales up 4 percent to 222,057 — just 4,000 units behind GM. Honda sales were down 1 percent to 150,980 — its first-quarter sales continuing to decline in North America but seeing a big increase in China. And Nissan sales fell 3 percent to 128,295. GM, Ford and Fiat Chrysler have cautioned that second-half financial results likely will be lower than first-half results, in part reflecting production cuts in North America and pricing pressures. The automakers this year have been deliberately dialing back sales to rental-car companies, which often generate little to no profit, while struggling to keep retail sales from sagging further, according to industry analysts. Industry consultant LMC cut its full-year forecast for new vehicle sales to 17 million vehicles. Automakers sold a record 17.55 million vehicles in the United States in 2016.

MotorWeek remembers retro icons, Supra and NSX

It's easy to poke a joke here and there about John Davis, the long-time host of MotorWeek. His voice is so monotonous that, from time to time, if you closed your eyes, you may think it's generated via a computer. But you have to give him and the rest of the show a lot of credit. The program has been on the air for decades, giving people direct, straight-down-the middle automotive reviews.
MotorWeek's massive back catalog of reviews are slowly making their way onto YouTube, and they provide a fascinating chance to look back on how performance cars rank against their contemporaries from back in the day. Two recent additions include the show's old looks at the 1986 Toyota Supra, the dawn of the third-generation model, and the now-iconic 1991 Acura NSX.
Both reviews are interesting in their own way. These days you hear nary a negative word about the original NSX, but MotorWeek isn't afraid to point out a few flaws. And the Supra really shows the progress of suspension tuning in the intervening decades because it has some serious body roll in the corners. Scroll down to check out both videos and get a blast from the automotive past.

Will Toyota lose up to 70% of its workforce in TX relocation?

Toyota's decision to move its US headquarters from its longtime home in Torrance, CA, to Plano, TX, was one of the biggest stories in the automotive industry this spring. With several months since the announcement, more details about the plan have leaked out. It seems that pulling up stakes could mean an even larger shakeup in the Toyota workforce than first thought.
According to Automotive News, Toyota intends to hang onto around 50 percent of its workforce in the move to the Lone Star State. However, even that figure might be optimistic. According to an unnamed insider speaking to AN, there is a fear the actual number could be closer to 30 percent. For comparison, Nissan retained about 42 percent of its workers in its move from California to Tennessee.
The actual percentage making the move is a mystery because Toyota is still rewriting its job descriptions under a single set of guidelines. The changes affect benefits, bonuses and the reporting structure, according to Automotive News, and employees' reactions could play a big role in who decides to go. According to an unnamed worker speaking to AN, the wait is hurting morale. Some people are even applying at the nearby Honda headquarters.