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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 Q50 Eau Rouge running prototype driven by Sebastian Vettel

Infiniti's high-performance Q50 Eau Rouge concept might be one of the biggest teases in the current automotive world. It was first shown at the 2014 Detroit Auto Show as a body without an engine. Then, the sports sedan arrived at the Geneva Motor Show with a modified version of the turbocharged V6 from the GT-R under the hood, tuned to 560 horsepower and 443 pound-feet of torque, and with all-wheel drive. However, it was still just a concept. Finally, the Japanese luxury automaker is showing us what the Eau Rouge can do on the road - briefly.
The company brought reigning Formula One champ Sebastian Vettel along to get behind the wheel, for this all-too-short video from the Millbrook Proving Ground in the UK. There's more good news too. While Infiniti isn't saying that it's definitely going to build the Eau Rouge, it is "pressing ahead with the evaluation." More info about these tests will be released at the 2014 Beijing Auto Show at the end of April. Scroll down to watch Vettel drive the Q50 Eau Rouge and read a little more about it.

Infiniti to get Leaf-based electric sedan after all

Infiniti suffered a huge blow a few weeks ago when CEO Johan de Nysschen jumped ship after two years on the job to take the helm at Cadillac. As boss, he spearheaded change within the Japanese luxury brand and was among the biggest champions of the Q50 Eau Rouge. However, the company is far from sunk. Plans put in place prior to de Nysschen leaving are still on the table, according to Nissan product planner Andy Palmer to Automotive News, and that could mean a rosy future for the once AWOL LE sedan (pictured above) and other models.
Back in 2012, Infiniti promised that it would have the LE on the market as a premium electric sedan by 2014. It was supposed to share the battery pack with the Nissan Leaf but with a more powerful, 134-horsepower motor. But have you seen one on the road recently? The luxury EV was eventually shelved, but de Nysschen pledged the idea wasn't dead. Maybe now is a better time for it. According to Automotive News, the LE is rescheduled to launch in 2017 or 2018. The latest version would use the Leaf platform but with a more potent, next-gen battery to give it a range over 90 miles.
Of course, the LE isn't the only thing on the way from Infiniti; it also appears to be planning a two-pronged approach for small cars. Palmer recently tweeted that the company would build the forthcoming Q30 hatchback and QX30 crossover in the UK in 2015. Additionally, the automaker is firing up a new joint venture factory in Mexico with Mercedes-Benz; building compact models there starting in 2017. According Automotive News, the Mexican-built models will be more US-focused while the UK-built ones will appeal more to Europeans.