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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.

Submit your questions for Autoblog Podcast #344 LIVE!

We're set to record Autoblog Podcast #344 tonight, joined by Doug DeMuro, author of Plays With Cars, formerly of Porsche Cars North America, and all-around swell guy. You can drop us your questions and comments via our Q&A module below, and we'll give them extra-diligent attention. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.
Discussion Topics for Autoblog Podcast Episode #344
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Infiniti QX30 Concept teased ahead of Geneva reveal

Nearly a year and a half after Infiniti unveiled the first Q30 Concept at the 2013 Frankfurt Motor Show, the company is preparing to unveil a high-riding version of the concept, wearing the QX30 moniker, ahead of next month's Geneva Motor Show. While we've yet to receive any details on what to expect of the new QX30 Concept, Infiniti has issued a single teaser image of the car's shapely backside, revealing a pair of trapezoidal exhausts that have been integrated into the rear bumper. That bumper sits particularly high to accommodate what looks to be a small hatch with a prominent space between the slim ribbons of the LED taillights. Similarities to the Q30 hatch, meanwhile, are obvious. The taillights are similarly shaped, as is the tailgate and the integration of the dual exhausts (although they are shaped differently on the QX30). Of course, as soon as Infiniti bothers to release the full and complete details for its upcoming concept, we'll be sure to relay those on to you. Until then, have a peek at both the Q30 and the QX30 and let us know what you think in Comments. Infiniti gears up for premiere of QX30 Concept in Geneva Hong Kong – Infiniti will take the covers off the QX30 Concept at the Geneva International Motor Show next month. The QX30 Concept is the Infiniti design vision which will inspire a new premium compact crossover targeted at a new generation of premium customers. Set to be revealed at Infiniti's press conference, scheduled for 14:30 on 3 March in Geneva, the QX30 Concept aims to reignite the premium compact segment with a distinctive approach to design that looks beyond the practicality and conformity expected of the segment. The potential customers for such a concept are searching for a product to suit their 'urban week and get-away weekend' lifestyle and the QX30's compact footprint matches that. Combining the sleek lines of a coupe with the rugged looks and commanding seating position of a crossover, the QX30 Concept foreshadows an urban explorer which is equally at home in the city as it is on the open road.