1959 Fiat Nuova 500 Base 0.5l Siucide Doors on 2040-cars

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Major automakers post mixed US June sales figures

General 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.

Fiat brings raft of special-edition hatchbacks to Geneva

The annual Geneva Motor Show presents a prime opportunity for any automaker – European ones especially – to show off new metal. You'd figure that would include the sprawling Fiat Chrysler Automobiles group, but instead, one of Europe's largest automakers will be presenting a series of special-edition hatchbacks for the European market. Yeah, we're as disappointed as you are. First up is the Fiat division itself, which will be showcasing the Vintage '57 edition of the 500 and the Panda K-Way. The former puts an even more retro spin on the already-retro hatchback, with a two-tone pastel blue-and-white exterior, 16-inch white-and-chrome wheels and a tobacco-leather interior. The latter was designed in collaboration with the famous rainwear label, K-Way, and features mix-and-match exterior color combinations, titanium-finish trim and a specially crafted interior. Alfa Romeo will be celebrating the European debut of the 4C Spider we already saw in Detroit. In terms of new debuts, Alfa also has the elegant Collezione edition of the Giuletta and the MiTo Racer edition with gray and brown trim that looks, at first blush at least, much more subtle than the name would convey. Though no longer a major player in the Fiat portfolio, Lancia is showcasing the 30th Anniversary and Elle editions of the Ypsilon – the car that in its own words, "Italian women love more than any other." Jeep is showing the Renegade with new powertrain options, and Abarth has updated its range of 500-based hot hatches, but for something new and exciting, it looks like we'll be passing right by the Fiat section at the Geneva Palexpo this year. Related Video: Featured Gallery Fiat Group special editions for Geneva 2015 News Source: Fiat Geneva Motor Show Alfa Romeo Fiat Lancia Hatchback 2015 Geneva Motor Show alfa romeo mito fiat panda alfa romeo giulietta lancia ypsilon

Marchionne emailed Barra about merger between FCA and GM

Sergio Marchionne is adamant that global automakers will have to merge to remain profitable in the near future, and he'll tell that to anyone who's listening. Mary Barra, however, is not interested. According to The New York Times, the Fiat-Chrysler chief proposed a merger with General Motors via email to his counterpart back in March. Marchionne proposed meeting to discuss the matter, but Barra and her team reportedly rejected even entertaining the idea. This of course is not the first time Marchionne has raised the idea of a merger. He masterminded the marriage between Fiat and Chrysler, and reports have since suggested further mergers with Volkswagen, Peugeot, Ford, and others – including GM's own Opel unit. Some have taken his calls for consolidation as a weakness, but Marchionne insists that his empire is in good health – and that it's the industry as a whole which is in an untenable position. According to his view, automakers around the world need to align themselves into larger groups in order to reduce redundancy in investment, development and infrastructure – the duplication of which he terms as wasteful. "It's fundamentally immoral to allow for that waste to continue unchecked," said Marchionne to the Times. "I think it is absolutely clear that the amount of capital waste that's going on in this industry is something that certainly requires remedy," he said in a conference call with industry analysts late last month following the rejected GM approach. "A remedy in our view is through consolidation." News Source: The New York TimesImage Credit: Paul Sancya/AP Chrysler Fiat GM Sergio Marchionne merger fiat chrysler automobiles