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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.

Recharge Wrap-up: Car2go launches in Brooklyn, Green Fleet Car of the Year Award announced

The Car2go carsharing service is starting operations in Brooklyn next month. Beginning October 25, the service will offer 400 Car2go edition Smart Fortwo vehicles for point-to-point travel. Members pay a one-time sign-up fee, and are charged by the amount of time the use the vehicle (fuel and insurance is free). Drivers can find a car using the Car2go app or website, and can return the car to any non-metered parking spot within the 36-square-mile Brooklyn Home Area. Car2go is offering free membership and 30 minutes of credit for those who sign up early with a special promotional code. Learn more in the press release below. Renault and the Eco2charge consortium are working to bring better EV charging to France. They are providing research and development aimed at turning simple charging stations into "fully fledged energy ecosystems" through a smart grid. This grid would coordinate charging, consumption and energy storage in a way that increases efficiency and decreases cost. Read more in the press release below. The Renault-Nissan Alliance could source EV batteries from suppliers other than Nissan, according to CEO Carlos Ghosn. This news comes after recent questions of whether or not Nissan would scale back battery production in the US and UK. Ghosn says, "At the moment, we continue to produce our own batteries and we are open to outside sourcing, period." He also denies any plans to shutter Nissan's battery production facility in Tennessee. One source of batteries the alliance will look to is Korea's LG Chem. Read more at Automotive News Europe. The first-ever Green Fleet Car and Truck of the Year Awards will be presented at the Los Angeles Auto Show. The presentation on November 20 will be part of the LA show's Connected Car Expo. Nominees are selected by Bobit Business Media, with finalists picked by readers of Green Fleet, Automotive Fleet, Work Truck and Business Fleet magazines. The winners will be chosen based on performance, fuel economy, emissions, safety, capacities and other similar factors. Read more in the press release below. car2go Heads To Brooklyn Brooklyn To Be First To Launch Point-To-Point Carsharing Service In New York City Area On October 25th car2go North America LLC, the fastest-growing global carsharing company, announced today that it will be launching its pioneering carsharing service in Brooklyn on October 25th, marking Brooklyn as car2go's 29th market and the very first in the New York City area.

Nissan could have bought a stake in Aston Martin as early as 2012

Aston Martin has a very interesting future ahead of it. While the British brand appeared to be struggling with aging tech for a while, fresh investment from Daimler may have shown a light toward the future with the brand getting engines and electronics from them. Also, former Renault-Nissan top exec Andy Palmer has jumped ship from the French/Japanese automaker to become CEO of the much smaller sports car company. Interestingly, though, new reports from unnamed Nissan sources have indicated that Palmer has been pushing to work with AM for years.
Three unnamed company insiders told Reuters that Palmer made attempts to convince Renault-Nissan CEO Carlos Ghosn in 2012 and 2013 to invest in Aston Martin, but his proposals were shot down both times for unspecified reasons, according to Automotive News. "We looked carefully at the proposal but we passed on it," said one of the sources.
You can easily see why Palmer was eying Aston Martin even back in 2012. It's no secret that the British sports car mavens were in need of extra funding, well before the Daimler investment. Building vehicles these days is only getting more expensive with stronger safety and emissions requirements. Just look at the brand's desperate hope to get a side-impact crash exemption to keep selling its models in the US as an example.