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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.

Toyota's Mirai fuel cell car gets its own special showroom

If the car's unique, the showroom better be as well. That's the approach Toyota is taking with the Mirai, its first production hydrogen fuel-cell electric vehicle. In fact, the model is getting its own special showroom starting this Friday. The Japanese automaker is opening the showroom in Tokyo. The facility takes up two floors totaling about 1,800 square feet and, from the pictures, it looks to have a very Zen-like quality. Toyota will be displaying one Mirai vehicle and will have another vehicle available for public test drives available every Friday. Toyota started selling the Mirai in Japan late last year and has announced plans to debut the car in the US – starting in California – this fall at a base price of $57,500, or a lease option of $499 a month for 36 months ($3,649 is due at signing). Earlier this year, Toyota said it was going to bump production to 2,000 vehicles next year (and 3,000 in 2017) from 700 units this year. With such a ramp-up in store, Toyota will spend about $170 million increasing production capacity of the fuel-cell vehicle. That total probably doesn't take into account the stylish new Tokyo showroom. Related Videos: New Toyota Mirai Showroom in Downtown Tokyo Offers a Glimpse of the Future Tokyo, Japan, April 13, 2015-On Friday, Toyota will open a showroom to highlight the groundbreaking Mirai fuel cell vehicle, which went on sale last December. Located within a hydrogen station operated by Iwatani Corporation in Tokyo's Minato Ward, the space will serve as a hub for sharing information on fuel cell vehicles and hydrogen, with the aim of promoting a hydrogen-based society. In addition to having one Mirai on display and another for test drives, the showroom will use videos and other media to raise awareness about the features of the vehicle, the benefits of hydrogen and more. Overview of the Toyota Mirai Showroom Location 4-6-15 Shiba-Koen, Minato-ku, Tokyo Opening April 17, 2015 Floor area 1st floor84 m2; 2nd floor81 m2 Hours 9:00-17:00 Closed Tuesday (The Iwatani hydrogen station is closed on Saturdays, Sundays, and holidays) Display vehicles 1 Test ride vehicles 1 (available to public on Fridays only) Website http://toyota.jp/mirai/showroom/ (Japanese only)

Driving the Toyota Tacoma, BMW 430i and Chevy Corvette Convertible | Autoblog Podcast #671

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick and Road Test Editor Zac Palmer. First, they talk about driving the Toyota Tacoma TRD Off-Road (equipped with a TRD Lift Kit), Mini Cooper S Hardtop 2-Dor, BMW 430i xDrive, Chevy Corvette Convertible and Chevy Suburban with the Duramax diesel engine. They discuss the news, including Toyota's desire to differentiate the 86 from the BRZ, the new Jeep Magneto concept and Greg's opinion piece on why Stellantis needs Chrysler. Last, but not least, they dig into the mailbag to help a listener figure out how to replace their Honda S2000 and Honda Fit. Autoblog Podcast #671 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars We're Driving 2021 Toyota Tacoma TRD Off-Road 2021 Mini Cooper S Hardtop 2 Door 2021 BMW 430i xDrive 2021 Chevy Corvette Convertible 2021 Chevy Suburban Duramax diesel News Toyota 86 reportedly delayed to differentiate it from Subaru BRZ Jeep Magneto: Electrifying the Easter Jeep Safari with a Wrangler EV Why Stellantis needs Chrysler Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: Podcasts BMW Chevrolet Chrysler GM MINI Toyota Truck Coupe SUV Diesel Vehicles Luxury Off-Road Vehicles Performance