1997 Toyota Land Cruiser, No Reserve on 2040-cars

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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.

2014 Toyota 4Runner Limited

What would you say if we told you that outside of Jeep and Land Rover, the best brand for those who want to go off road is Toyota? Sounds remarkable, eh? But the truth is, Toyota's history of providing vehicles for the rougher bits of our blue marble dates back to 1950, barely a decade after Willys built the first Jeeps and only a few years after Land Rover made its big debut with the iconic Series I.
In fact, Toyota's start in off-roaders was with a small contract for providing the US Army with vehicles, during the Korean War. From that, the BJ was spawned. This Jeep-like vehicle evolved into the 20 Series and then into the iconic 40 Series Land Cruiser in the 1960s.
So yes, Toyota knows its way around the trails. While the Land Cruiser, deservedly, gets all the attention thanks to its impressive longevity, we're partial to the 4Runner, which is a far more affordable entry that serves as Toyota's challenger to the Jeep Grand Cherokee.

Ed Begely, Jr's RAV4 EV taken off eBay, moved to Craigslist

You may recall earlier this month that noted environmentalist and celebrated actor Ed Begley, Jr. was auctioning his own 2002 Toyota RAV4 EV on eBay. Bidding got up to $13,655 without meeting the reserve, and the auction ended on June 12 without a sale. Now, though, the well-loved electric Toyota has found its way to Craigslist with a new, set price of $17,500. The car sold for $42,000 in 2002, and has been maintained by the same dealership where Mr. Begley purchased it. The odometer shows 119,000 miles, but its battery was replaced in 2011, and shouldn't need to be replaced for another seven or eight years. Begley appears to have taken great care of his RAV4 EV, and it shows just your average cosmetic wear and tear on its white and charcoal interior. It gets about 85 miles on a full charge, and comes with the white decal that lets solo drivers use the HOV lane in California. As with the eBay deal, had that gone through, the buyer will get a chance to meet Ed Begley, Jr., and can even have him autograph the inside of the RAV4 EV's hood. Many of you may be curious as to what Begley's next daily driver will be. According to the actor's own Twitter account, he'll continue using electrons to get around, this time in a leased Nissan Leaf. As an actor, Ed Begley Jr. is known for many roles, including an Emmy-nominated role on St. Elsewhere. He also appeared on Arrested Development, Six Feet Under, Veronica Mars and in the films Pineapple Express and This Is Spinal Tap. In his decades as an environmentalist, he has appeared in his own web series On Begley Street, created his own line of environmentally friendly cleaning products, is in an ongoing competition with Bill Nye to have the lowest carbon footprint, has authored books and has been active in numerous environmental organizations.