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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 Q60 dies at year's end

In 2021, Automotive News' Future Product Pipeline coverage for the Infiniti brand contained a single entry for 2023: "Infiniti Q60 ends in 2023." Turns out the report of the Q60's death was true; the brand confirmed to Car and Driver that the coupe ends production at the end of this year. We wish we were surprised at the news or the rationale. An automaker spokesperson told the magazine, "We are focusing on the most popular luxury automotive segments such as crossovers and SUVs, as well as the upcoming EV we recently announced that will be built here in the U.S." The official justification didn't address the fact that dealers sold 2,728 units of the Q60 in the U.S. last year, 64 units fewer than achieved in 2020, and 2,315 units fewer than dealers moved in 2019 — the year Q60 sales fell off a cliff after selling more than 9,000 units in 2018. Consider this another step in the "three-phase company transformation" that Chairman Peyman Kargar is in the second stage of working through. The first phase of recovery ended this March, the luxury automaker getting back to profit globally. The current second stage that will revamp, electrify, and expand the lineup is predicted to last for the next four years. The spearhead will be the new QX80 SUV, planned for late next year or early 2024 with ambitions to challenge the Cadillac Escalade, Lexus LX, and Range Rover. That luxury club barred Infiniti from entry awhile ago, so Kargar's talking about profound turnaround. As for the Q60, the shame is that a car with sweet looks and even sweeter power never got the interior or driving dynamics to match. Perhaps the return of a much better Nissan Z can provide fodder for a proper Infiniti coupe once the luxury division has restored its momentum. The spokesperson told Car and Driver that Q60 inventory should last until well into 2023, so anyone looking for a 400-horsepower bargain with a six-speed manual should mark their calendar for early next spring.   Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Infiniti is blazing an unconventional path to electrification

When it comes to electrification, Infiniti has a history of speaking a great deal but doing little. The Nissan-owned company's plug-in offensive will start in the 2020s, and it provided preliminary details about the technology that motorists can expect to find in showrooms in the not-too-distant future. Eric Rigaux, Infiniti's general manager of product strategy and planning, told Roadshow the firm's engineering department is putting the final touches on two forward-thinking electrified powertrains. The first one will run solely on electricity, while the second one will rely on a gasoline-powered generator to provide more range. Both are being developed to fit into a flexible new platform. Technical details about the electric setup remain vague, so we don't know how big of a battery pack Infiniti will use, or how many motors will draw electricity from it. However, Roadshow learned the gasoline-electric layout will never need to be plugged in, because a 1.5-liter, three-cylinder engine equipped with Infiniti's innovative variable-compression technology will produce the electricity it needs to run. The triple won't directly spin the wheels; it will channel the juice it creates to a battery pack. It's not a zero-emissions solution, but it's one that makes a lot of sense, because users won't need to wait for a charge, and they'll be able to drive for about 500 miles between fill-ups. The now-defunct Chevrolet Volt featured a similar drivetrain, but owners had the possibility of plugging it in. Infiniti won't give motorists that option; there won't be a plug anywhere on the car. Fluid-filled motor mounts and active noise cancellation will ensure the passengers don't feel or hear the triple whirring away. Meanwhile, two electric motors (one over each axle) will deliver between 248 and 429 horsepower; final specifications haven't been signed off yet. And, because power will come from gasoline, there's no need to integrate a bulky battery pack into the chassis. Infiniti's future gasoline-electric models won't require anything bigger than a 5.1-kilowatt-hour unit, which can unintrusively be stuffed under the trunk floor or sandwiched between the floor and the rear seat. Infiniti chose a crossover to inaugurate its battery-electric powertrain; the QX Inspiration concept (pictured) unveiled during the 2019 Detroit Auto Show shed light on what the model will look like.