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The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

Lexus RC F and GS F 10th Anniversary Editions are all black and blue

Lexus's F marque, the letter affixed to sport-tuned and performance models, debuted just over 10 years ago when the IS F hit dealer showrooms. The V8-powered sedan was a direct competitor to the tried and true BMW M3. The IS F was followed by the V10-powered LFA, RC F coupe and GS F sedan. In celebration of the F sub-brand's 10th anniversary, Lexus is rolling out two new limited edition variants of the RC F and GS F. In America, only 240 RC Fs and 100 GS Fs will be available. There is a price to pay for exclusivity. The RC F 10th Anniversary Edition starts at $80,810, a $16,160 premium over the standard model. It's not just special badging. The new model comes standard with the Performance Package, Triple Beam headlights and Intuitive Park Assist. Those three options will run you $7,160 on their own. At $89,350, the GS F 10th Anniversary Edition is only a $5,000 premium over the standard model. Both cars come with matte Nebula Grey paint, 19-inch black BBS wheels wrapped in Michelin Pilot Super Sport tires, and Brembo brakes with blue calipers. The RC F has blue leather seating with white accents up front as well as blue accents on the shift knob, steering wheel and instrument panel cover. The GS F gets blue leather seating both front and rear. There are blue carbon-fiber accents, blue suede on the dash and blue seat belts. Additionally, the GS F gets blue leather on the steering wheel, console and shift knob. The RC F and GS F are still powered by a 467 horsepower naturally-aspirated 5.0-liter V8. Power is sent to the rear wheels through an 8-speed automatic transmission. Both cars also pack a torque vectoring differential. Look for these special edition models later this year. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Lexus RC F and GS F 10th Anniversary Edition cars View 15 Photos News Source: Lexus Design/Style Lexus Coupe Luxury Performance Sedan lexus rc f lexus gs f

The Lexus Sriracha IS is the hottest Lexus ever

For this year's Los Angeles auto show, Lexus created its hottest IS ever: the Sriracha IS. And the company did so by putting Sriracha sauce in everything! It's in the paint, the steering wheel, and even in the trunk! Check out the video if you don't believe us. Ok, so Lexus didn't really put Sriracha in everything. In reality, the company partnered with Huy Fong Foods to produce this one-off car, and turned to West Coast Customs to execute it. It features a custom paint job designed to emulate the look of Sriracha sauce, and green accents on the grille, mirrors, brake calipers, and exhaust tips are a call back to the food company's sauce bottles. View 13 Photos Inside, West Coast Customs created some clever and surprisingly subtle changes. The climate controls only show increasing heat levels, and the seat heater buttons are bright red with little flames above the seat icons. The drive selector trades sport mode for "Sriracha" mode. The seats get red and green inserts along with logos stitched into the seat backs. Other parts of the interior have green contrast stitching, too. The steering wheel is a particularly unique piece. West Coast Customs found a liquid that looks similar to sriracha, put it a resin container and shaped it to fit the steering wheel, so now it looks like there's sriracha in the steering wheel. It also has a warning sticker for "hot handling." And lest you think there isn't any real Sriracha anywhere in the car, you'll find 43 bottles of the stuff in the trunk, and the key fob dispenses some as well. As for how Lexus tops this, perhaps they could make a habanero or ghost pepper car. Or maybe they could show us a real IS F successor. We think another V8 Lexus would come across as pretty hot. Related Video: