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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.

eBay Find of the Day: Ayrton Senna's 1993 Honda NSX

It's not often that things owned by the late Ayrton Senna come up for sale, but the seller of this black-on-black 1993 Honda NSX (aka, Acura NSX) eBay find claims it was once owned by the Formula One legend, and that he left a footprint on the factory carpet that can still be seen today. (Footprint, or vacuum lines?...)
NSX no. T000999 was given to Senna as a gift from his mentor and sponsor, Antonio de Almeida Braga, the seller claims, and it was stored at a palace near the Estoril F1 circuit in Portugal. He also was known to drive two other NSXs, a black one and a red one - the latter in which he was seen often.
The seller claims to have owned T000999, which is still in Portugal, for 17 years, and the 31,000-mile odometer indicates it was driven about 1,500 miles per year on average. Thankfully the car has been kept stock, so whoever buys it can enjoy driving it just as Senna did - that is, if the car actually is what it's claimed to be. If the story checks out, then this is one valuable NSX, which is reflected in the high minimum starting bid of 47,500 pounds ($73,620). There have been no bids at time of writing, but with nine days left in the auction, we'll be keeping our eyes on this one.

2016 Honda Pilot is brand's first non-hybrid with stop-start

Honda has gotten rid of the boxy styling of the outgoing Pilot for a more aerodynamic look that mimics its smaller sibling, the popular CR-V. The 2016 Honda Pilot – which goes on sale this summer – has a larger, eight-inch display screen, an improved navigation system and up to five USB ports to power the family's devices. The new Pilot was introduced at the 2015 Chicago Auto Show this week. New amenities include an optional heated steering wheel and heated second-row seats. Under the hood is a new 3.5-liter, direct injected V-6 engine with start-stop technology – Honda calls it " Idle Stop technology" – to save on fuel. Buyers can choose one of two new transmissions, a six-speed or a nine-speed, and front-wheel-drive or all-wheel-drive configurations. Green Car Congress notes that this is the first time Honda has put stop-start technology into a non-hybrid vehicle. Fuel economy wasn't announced, but increased use of lighter materials has dropped 300 pounds of weight, so the new Pilot should beat the old model's 25 mpg on the highway. New safety features include LED high beams that automatically dim for oncoming traffic and Honda's first road departure mitigation system - borrowed from Acura - which monitors the vehicle's road position and can correct the steering or brake if it senses an imminent collision. Related Video: The AP contributed to this report. Featured Gallery 2016 Honda Pilot: Chicago 2015 View 19 Photos News Source: Honda, Green Car Congress Green Chicago Auto Show Honda mpg stop start