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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.

Infiniti Q30 goes full monty before Frankfurt

Infiniti is finally tearing off the camouflage and showing the world what the Q30 luxury hatchback actually looks like. Set to make a full debut Frankfurt Motor Show on September 15, the five-door marks the entry of the Japanese premium brand into the compact hatch ranks. The company's designers did a fantastic job of bringing the major elements from 2013's concept to the street, though. Like the earlier design, the production Q30 wears Infiniti's rounded rectangle grille and a chrome strip along the edge of the hood. The headlights are also left squinting from the concept. The only major change to the front end is an adjustment to the lower air dam to make it a little more realistic for production. Sadly, Infiniti is only providing this single front three-quarters perspective on the upcoming five-door for now, but check out the C-pillar in the background to spot the similarly pointed design there, as well. The changes are actually more noticeable when comparing the Q30 with its platform-mate, the QX30 compact crossover concept. The hatchback noticeably softens many of the CUVs swoopy lines to be a bit more mainstream. This is especially true along the front where the big air intakes from the QX are made significantly smaller. Production of the Q30 is slated to start in Sunderland, England, by the end of the year. They should actually arrive in showrooms there before the calendar runs out. Still, we're looking forward to Frankfurt for a more complete view of Infiniti's little luxury hatchback. Related Video: INFINITI Q30 PREMIUM ACTIVE COMPACT SET FOR FRANKFURT IAA 2015 PREMIERE Daring, expressive design meets advanced ride and handling performance Category-breaking Q30 faithful to 2013 concept car World premiere for global media September 15th at Frankfurt Motor Show Hong Kong – The first ever Infiniti Q30 Premium Active Compact is ready for its world premiere at the International Frankfurt Motor Show in September this year. Featuring Infiniti's iconic design language, the all-new Q30 represents a category-breaking vehicle concept developed for customers seeking urban individuality. Its dynamic drive characteristics provide for Infiniti-typical confident and responsive performance as well as excellent ride and handling. Crafted trims and expressive interiors extend the striking design approach from the exterior into the passenger cabin.

Infiniti's Palmer announces QX30 small crossover production

The name of the game these days in the luxury marketplace is premium compacts. BMW has the 1 Series and 2 Series, Mercedes the A-Class, B-Class, CLA and GLA, Audi has the A1 and A3, even Lexus has the CT 200h. Among the last to get in on the action is Infiniti, but that's all about to change.
Nissan's luxury brand has been working towards a premium compact for some time, revealing the Q30 concept at the Frankfurt Motor Show last year and signing a new deal with Daimler to help develop and produce it. Now it seems that both it and a crossover version have been approved for production.
The news comes from Andy Palmer, Nissan's UK-based COO, chairman of Infiniti and one of the company's top executives under CEO Carlos Ghosn. Late last week Palmer tweeted the following: