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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.

Honda, Kawasaki, Suzuki, Yamaha to make swappable motorcycle batteries

Just as electric cars are becoming ever more common, the alternative propulsion system is starting to make headway in the motorcycle sphere. Companies such as Harley-Davidson and Zero already have electric models on sale, but other established brands are preparing for the electric future. Among them are the four big Japanese bike builders (Honda, Kawasaki, Suzuki and Yamaha) who have a plan to improve electric bike adoption, and make their bikes very appealing. The four companies created an organization back in April 2019 for this sort of purpose called the Swappable Battery Consortium for Electric Motorcycles. And the group has now announced that the manufacturers have agreed on the specifications for motorcycle batteries that can be interchanged among each company's motorcycles. So if you have a Suzuki, you can use a Honda battery, or vice versa. This idea presents quite a few interesting possibilities. The manufacturers could sell bikes with or without batteries, since you might already have a battery from your previous bike, or just another one you own, so you wouldn't have to shell out to buy an entirely new battery. If, for whatever reason, you needed a replacement battery, it should be easy to get one, since the same type would support bikes from a variety of manufacturers. The pipe dream of battery swapping stations might even be feasible because of the standardization and support. And having the batteries relatively easy to remove could be good for apartment dwellers, since they might be able to bring a battery inside to charge. The manufacturers haven't said exactly what the specifications are for these interchangeable batteries, nor when they'll be implemented. But we'll be eagerly awaiting more information in the future. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Automakers donating money, vehicles and supplies to Oklahoma tornado relief effort

Judging by the destruction the Oklahoma City area experienced earlier this week, residents are going to need a lot of help in coming months. Fortunately, a number of automakers - including General Motors, Ford, Chrysler, Volkswagen, Honda and Toyota - have stepped up to donate money, supplies and vehicles to aid in the recovery and rebuilding processes.
Here's a quick rundown of which automakers have pitched in and what each contributed so far:
Ford Motor Company has donating $250,000 and a Transit Connect to the American Red Cross, and it will match all other donations made to the Red Cross (up to $250,000) using a special URL tied to the latter's website (link here). Additionally, its local Oklahoma dealers have thrown in an extra $150,000 for the United Way and the automaker will be offering an extra $500 toward the purchase of a new Ford vehicle.