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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.

2018 Lexus GX 460 Drivers' Notes Review | When dinosaurs roamed the earth

The 2018 Lexus GX 460 has been on sale since late 2009. There have been a few minor updates, but a 2018 model is essentially the same as one from 2010. It's based on the global Toyota Land Cruiser Prado and shares more than a little with the Toyota 4Runner. It slots between the Lexus RX and the big daddy Lexus LX. Despite its age, it's still a seller. Sales were up in 2017. In fact, the GX had its best year in the U.S. since 2005. Blame cheap gas all you want. Really, people just want SUVs. We have a base-spec model. The only option is navigation. There's no heated seats or upgraded audio or safety features like blind-spot monitoring or active cruise control. It's basic and honest, but it also highlights just how out of date the GX really is. Editor-in-Chief Greg Migliore: The GX 460 is a body-on-frame, V8-powered, three-row grunt. It's comfortable and functional, but in a segment with more than a few options, this one struggles to stand out. The styling is polarizing yet somehow also vanilla. The spindle grille looks awkward and out of place — a dissonant interpretation of Lexus' latest design language — while the lightly flared fenders say almost nothing. The 4.6-liter V8 only puts out 301 horsepower but still slurps gas to the tune of 15 miles per gallon in the city and 18 mpg on the highway. Power delivery is fine via the six-speed automatic transmission, but the GX 460 feels sluggish from launches. The interior is nice enough with pleasing materials and an intuitive layout. Visibility is solid, you're certainly high enough up, so the command driving position is confidence-inducing. Not a fan of the eight-inch multimedia screen, which feels small and isn't the most informative system I've ever used. Overall, I'd give the GX 460 a C+ compared to other vehicles in this segment. Decent, but dated and lacking some compelling elements. That being said, if you're a Lexus loyalist and want a beastly three-row SUV, you will like this one. If you're more brand agnostic, there are better options out there. Associate Editor Reese Counts: Let's get one thing out of the way — the Lexus GX is old. Yes, it's been on sale essentially unchanged since late 2009, but that's not all there is to it. This is a traditional, body-on-frame SUV with a torquey V8 and a real four-wheel drive system. It's one of the last of its breed. Customers have shifted away from these behemoths, settling on more comfortable and more efficient car-based crossovers.

Lexus Eco Challenge rewards schools for clean water, briquette press projects

Teams from one New Jersey high school and one Michigan middle school reversed the old adage by thinking locally and acting globally. And that strategy won them the grand prizes in the most recent edition of the Lexus Eco Challenge. The future is indeed bright. The Toyota luxury-vehicle division gave out a half-million dollars in this year's contest. One $30,000 grand prize was awarded to the Pinelands Eco Scienteers from Little Egg Harbor, NJ, which produced and distributed low-cost briquette presses to rural villages beset by deforestation. The other grand prize went to the E.T. Electrical Team from Byron Center West Middle School in Michigan. That middle-school group raised money to send water filters to Haiti, Kenya and the Philippines. Lexus also awarded eight $15,000 first-place awards, with the winners including high schools from California, Florida, Missouri and Pennsylvania as well as middle schools from Arizona, Michigan, North Carolina and Texas. A special shout out goes to Daniel Boone Area High School in Birdsboro, PA, where students created an educational and public-relations campaign to publicize algae-based biofuels. In all, Lexus has doled out more than $4 million in Eco Challenge awards in seven years. Check out Lexus's press release below. Students Get Dollars and Sense in Lexus Eco Challenge - $500,000 Awarded to Teams Who Learn About Environment and Community Empowerment Two Grand Prize Teams Earn $30,000 Eight $15,000 First Place Awards Given to Innovative High School and Middle School Teams Students Bring Ideas to a Larger Audience and Make a Positive Impact on the World TORRANCE, Calif., (Feb. 24, 2014) – It's a win, win situation! Communities become a better place, and students, teachers and schools have the chance to share $500,000 in scholarships and grants through the Lexus Eco Challenge. This year, the $30,000 Grand Prize winners are the Pinelands Eco Scienteers from Little Egg Harbor, New Jersey, and the E.T. Electrical Team from Byron Center, Michigan. The Lexus Eco Challenge is an educational program and contest that inspires and empowers young people to learn about the environment and take action to improve it. High school and middle school teams nationwide define an environmental issue that is important to them, develop an action plan to address the issue, implement the plan, and report on the results.