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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.

Airbag recall widens to include BMW, Chrysler, Ford and Toyota

The recall of faulty airbag inflators supplied by Takata has exploded today to grow to seven automakers. In most cases, only models in certain high-humidity regions were affected because the National Highway Traffic Safety Administration found in its investigation that moisture played a roll in determining whether there would be a problem. However, some companies opted for national campaigns. The exact number of affected models for these campaigns isn't yet known at this time.
BMW is recalling an undisclosed number of 325i, 325Xi, 330i and 330Xi models from the 2001 through 2005 model years and the 2001-2006 model year versions of the 325Ci and 330Ci for the driver side and passenger side inflators. Only vehicles currently registered in Florida, Puerto Rico, Hawaii and the US Virgin Islands are covered under this recall.
Neither Chrysler's filing with NHTSA nor its press release list the specific models affected, but a company spokesperson told Autoblog that at this time it only covers the driver and passenger side inflators for the 2006 Dodge Charger in Florida, Puerto Rico, Hawaii and the US Virgin Islands

New Honda ads: Fix your airbags

As we've heard on many different occasions, one of the biggest problem with recalls is getting people to actually report to the dealership to have repairs done. This is particularly important in cases where the recalled part can cause some very serious harm. To combat this tendency – you might even call it neglectfulness – on the part of owners, Honda is turning to advertising. The company is launching a multi-million-dollar ad campaign targeting owners of vehicles affected by the Takata airbag recall and asking them to report in to have a replacement inflator installed. "Honda hopes that this new consumer information campaign will bolster our existing and continuing efforts to reach our customers and maximize the vehicle repair completion rates associated with recalls to replace Takata airbag inflators," Honda's John Mendel said in the attached statement. "These ads are a strong call to action from our company designed to break through the clutter, grab the attention of customers driving affected vehicles, and urge that they get required repairs as soon as possible." The campaign will kick off March 16 with full-page color ads in over 120 newspapers and 30-second radio spots in 110 markets. Because it's 2015, the company will also use sponsored Facebook posts "that mention the specific vehicle owned by each identified user." Yep, here's the future. Honda's ads will largely be focused in the 11 high-humidity states and territories (Alabama, California, Florida, Georgia, Hawaii, Louisiana, Mississippi, South Carolina, Texas, Puerto Rico and the US Virgin Islands) most affected by the Takata recall. Several of the states were part of the initial National Highway Traffic Safety Administration investigation, like Florida, Hawaii, the USVI and Puerto Rico. "The goals of this campaign is to save lives and prevent injuries," Mendel added. This campaign will be worth watching, not only because they deliver an important message, but they could set a precedent for the handling of future major recalls. Check out Honda's full press release, available below. New Honda Advertising Campaign Urges Owners to Take Immediate Action to Check for Open Recalls to Replace Takata Airbag Inflators Mar 12, 2015 - TORRANCE, CA.