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Auto sales in March and first quarter down nearly across the board

Nearly every major automaker reported weak U.S. sales for March and the first quarter of 2019, citing a rough start to the year, but said a robust economy and strong labor market should encourage consumers to buy more vehicles as 2019 rolls on. GM, which no longer releases monthly sales figures, saw first-quarter sales fall 7 percent, with declines across all brands. Sales of Silverado pickup trucks fell nearly 16 percent and the high-margin Chevy Suburban large SUV dropped 25 percent. Ford also no longer releases monthly sales numbers, but is due to release its first-quarter sales figures on Thursday. According to industry data, Ford's sales fell 2 percent in the quarter and 5 percent in March. Ford representatives did not immediately respond to requests for comment. FCA reported a 7 percent fall in U.S. sales in March and a 3 percent drop for the first quarter. All of FCA's brands dropped in March, except for Ram, which saw a 15 percent increase in pickup truck sales. "The industry had a tough first quarter, but with spring finally starting to show its face and continued strong economic indicators ... we are confident that new vehicle sales demand will strengthen going forward," FCA's U.S. head of sales, Reid Bigland, said in a statement. Toyota reported a 3.5 percent fall in U.S. sales in March and 5 percent for the first quarter, hurt by declining demand for its Corolla sedans and Camry vehicles. "While some of our competitors are abandoning sedans, we remain optimistic about the future of the segment," Toyota said in a statement. Nissan posted a 5.3 percent drop in sales in March, and its first-quarter sales were down 11.6 percent. Honda and Hyundai bucked the trend. Honda's U.S. sales rose 4.3 percent in March and 2 percent in the quarter, while Hyundai's were up 1.7 percent and 2.1 percent, respectively. Passenger-car sales suffered throughout the January-March quarter compared with the same period in 2018 as Americans continued to abandon them in favor of larger, more comfortable pickup trucks and SUVs, which are far more profitable for automakers. The battle for market share in the particularly lucrative large-pickup truck market intensified in the quarter, as Fiat Chrysler Automobiles' Ram brand outsold the U.S.' No. 1 automaker General Motors' Chevrolet-brand trucks. The two automakers have both launched redesigned pickup trucks.

Chevrolet Colorado ZR2 concept suggests a diesel off-road future

"It takes the Colorado to a whole new place." – Mark Reuss The Chevrolet Colorado looks set to gain a more capable off-road version, with the company previewing a potential design direction with a ruggedized concept Wednesday at the Los Angeles Auto Show. Called the Colorado ZR2, the concept brings back the name used on off-road-tuned S-10 and Blazer models in the 1990s and 2000s. The ZR2 has a track that's four inches wider than the Colorado Z71, which is currently the line's most capable off-roader. The ZR2 is fitted with a new grille, power-dome hood, custom wheel flares and off-road-style fascia that reduces overhang and has flip-out aluminum tow hooks. It's all slathered in an outdoorsy hue dubbed Cyprus Green. The are electronic locking front and rear differentials, skid plates and mono-tube coilover shock absorbers. It all rolls (or crawls) on 275/65R18 off-road tires wrapped around custom 18-inch aluminum wheels. There's also a spare tire assembly mounted in the bed, which has a spray-in liner and 48-inch lift jack should things go afoul on the trail. "It takes the Colorado to a whole new place," Mark Reuss, General Motors executive vice president of global product development, said at the reveal. Power comes from the 2.8-liter Duramax diesel engine making 181 horsepower and 369 pound-feet of torque. This engine will arrive later in the year in the production Colorado. While the ZR2 remains only a concept, it suggests a new path for the Colorado – one we hope Chevy decides to take. Chevrolet Introduces Colorado ZR2 Concept Aggressively styled, more capable and driven by new 2.8L Duramax diesel engine LOS ANGELES – Chevrolet today introduced the Colorado ZR2 concept – a vision of how Chevrolet could take the all-new midsize truck's off-road capability to the next level. It also showcases the new 2.8L Duramax diesel engine that will arrive in the Colorado lineup later next year. The aggressively styled concept builds on the capabilities of the production Colorado Z71 and advances the legacy of Chevrolet's previous ZR2 production models. "From the bold stance to the trail-ready special equipment, the Colorado ZR2 is all about the fun of driving where the pavement ends – and doing it in characteristic Chevy style," said Tony Johnson, Colorado marketing manager.

Former Fisker CEO has some advice for Tesla Motors

Former Fisker Automotive CEO and ex-Chevrolet Volt vehicle-line director Tony Posawatz has some words of caution for Tesla Motors. The long-time automaker executive questions the California automaker's long-term viability – and gives some praise – in a talk with Benzinga, which you can listen to below. While the all-wheel-drive D that Tesla unveiled earlier this month in Southern California wowed a packed crowd, Posawatz (starting at around minute 4:45 in the interview) says Tesla would've been better off taking the resources it expended toward that Model S upgrade and directed them towards speeding up the development of a more affordable plug-in. Perhaps a number of investors agreed, since the company's stock fell the day after the D was announced. Posawatz says Tesla has been over-reliant on the sale of ZEV credits. Posawatz also says that Tesla has been over-reliant on the sale of zero-emissions vehicle credits in California for its earnings and questions whether the automaker will ever work at a large enough scale to sufficiently drive down costs and make consistent profits. Tesla CEO Elon Musk would take issue with this characterization. Posawatz first made his mark in the plug-in vehicle world when he was the vehicle-line director at General Motors for the Volt extended-range plug-in from 2006 to 2012. Later that year, he joined extended-range plug-in maker Fisker Automotive as its CEO, though quit that job during the summer of 2013 as the company was descending into insolvency. He joined the Electrification Coalition this past March. News Source: Benzinga Green Chevrolet Fisker Tesla Electric PHEV Tony Posawatz