1998 Honda Civic Lx Sedan 4-door 1.6l on 2040-cars

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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.

Sales incentive growth clustered around brands with few CUVs, trucks

While it's arguably been around the longest, the dominance of the four-door sedan has been under threat for many years. As a further sign of the hurtin' that SUVs and crossovers have put on today's four-doors, a new report from Automotive News points to the increasing use of incentives by brands reliant on cars and light on CUVs and pickups.
Honda, Toyota, Volkswagen and Kia have all been stung by double-digit increases in their incentives-to-transaction price ratio, according to AN, which cites data from TrueCar. Honda's ratio is up 14 percent, while Toyota, VW and Kia are up 18, 15 and 19 percent, respectively.
"Most of the incentive growth we have seen is in product segments with low demand - midsized or large sedans," TrueCar CEO John Krafcik told AN. "As this trend goes on, the brands with three-sedan strategies are going to be in worse shape on incentive spending than the crossover brands."

Honda recalls 1.4 million vehicles in the U.S.

DETROIT — Honda is recalling over 1.4 million vehicles in the U.S. to repair drive shafts that can break, window switches that can overheat and a software flaw. The software recall includes 737,000 Accords from 2018 to 2020 and Insights from 2019 and 2020. A programming flaw in a control computer can cause the rear camera, turn signals and windshield wipers to malfunction. Owners will be notified in late January about when they should take their vehicles to a dealer for repairs. Two drive shaft recalls cover 430,000 Honda Civic Hybrids from 2012, the 2007 through 2014 Honda Fit, the 2013 through 2015 Acura ILX and the 2013 through 2015 Honda Accord. TheyÂ’re in 22 states where salt is used to clear roads in the winter. The drive shafts can break due to corrosion. Dealers will inspect the left and right drive shafts and replace them if needed. Parts arenÂ’t available yet. Owners will get an initial notification in February and will be told later when to go to a dealer. About 268,000 CR-Vs from 2002 through 2006 are included in the power window switch recall. Water can get into an open driverÂ’s window and cause an electrical short, possibly touching off a fire. ItÂ’s the second recall for the same issue. The cars were recalled starting in October of 2012, but the repairs didnÂ’t work. Honda says it has reports of 16 fires but no injuries. Honda says owners should take the SUVs in for repairs as soon as they get a recall notice. Those will be mailed starting in late January. Owners can also check https://owners.honda.com/service-maintenance/recalls or call (888) 234-2138 to see if their vehicle is affected.