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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.

These are the top luxury cars bought by people entering the segment for the first time

Let's say you just got a big promotion at work or the kids are moving out of the house, and you finally have some extra money. You decide to blow it all at once and treat yourself by upgrading your ride. Naturally, you look to a luxury automaker. What do you choose?
Models like the Audi A3 and Mercedes-Benz CLA-Class may be tailor-made to introduce buyers to the premium segment, but a new study finds that they don't garner the highest rates of non-luxury customer conquests. It turns out that a Volvo leads among folks moving up to a premium brand, and it isn't even one that's made anymore, at that.
A recent study by Polk and IHS Automotive looked at what models had the highest rates of buyers upgrading from a non-luxury segment. The information comes from its new vehicle registration data through April 2014. All ten top models boasted conquest rates of over 50 percent, but the Volvo C70 led the field with 68.01 percent of its customers coming from non-premium brands.

Infiniti spruces up the Q50 for 2018

Though overshadowed by the literally larger QX80 Monograph SUV concept, Infiniti's revised 2018 Q50 still made an appearance at the stand in New York. It joins a long list of cars including the Acura TLX, Hyundai Sonata, Mitsubishi Outlander Sport, VW Golf, and Toyota Sienna and Yaris that all went under the knife for the show. The Infiniti Q50's update may be one of the most mild, though, as it only consisted of cosmetic changes. Up front, the grille has been enlarged and given more prominent swoops at each corner. On the S version, sharp creases appear on either side of the primary grille and descend down to the lower, center grille. The outboard grilles of the front bumper have changed shape, too, and they now feature contrasting black plastic trim. The standard Q50 has a new bumper, as well, and though less aggressive than the S version, it still looks sporty with a more pronounced chin spoiler. Both iterations of the 2018 Q50 share the same tail end. The main change is in the rear bumper. A center diffuser has now appeared at the base. The contour of the diffuser is echoed by two creases in the bumper at progressively higher points. On the S model, the panel between the diffuser and the first crease is painted black, and the diffuser is painted in the body color. The standard model's entire bumper is painted in body color, and the diffuser looks to be a more muted black or gray. Inside, even fewer changes have been made. A new steering wheel with reshaped thumb grips is now included. Infiniti also added new stitching to the instrument panel cover and leather shift knob. You'll be able to examine all of these changes up close at an Infiniti dealer this summer when the cars arrive. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.