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Auto sales in March and first quarter down nearly across the board

Nearly every major automaker reported weak U.S. sales for March and the first quarter of 2019, citing a rough start to the year, but said a robust economy and strong labor market should encourage consumers to buy more vehicles as 2019 rolls on. GM, which no longer releases monthly sales figures, saw first-quarter sales fall 7 percent, with declines across all brands. Sales of Silverado pickup trucks fell nearly 16 percent and the high-margin Chevy Suburban large SUV dropped 25 percent. Ford also no longer releases monthly sales numbers, but is due to release its first-quarter sales figures on Thursday. According to industry data, Ford's sales fell 2 percent in the quarter and 5 percent in March. Ford representatives did not immediately respond to requests for comment. FCA reported a 7 percent fall in U.S. sales in March and a 3 percent drop for the first quarter. All of FCA's brands dropped in March, except for Ram, which saw a 15 percent increase in pickup truck sales. "The industry had a tough first quarter, but with spring finally starting to show its face and continued strong economic indicators ... we are confident that new vehicle sales demand will strengthen going forward," FCA's U.S. head of sales, Reid Bigland, said in a statement. Toyota reported a 3.5 percent fall in U.S. sales in March and 5 percent for the first quarter, hurt by declining demand for its Corolla sedans and Camry vehicles. "While some of our competitors are abandoning sedans, we remain optimistic about the future of the segment," Toyota said in a statement. Nissan posted a 5.3 percent drop in sales in March, and its first-quarter sales were down 11.6 percent. Honda and Hyundai bucked the trend. Honda's U.S. sales rose 4.3 percent in March and 2 percent in the quarter, while Hyundai's were up 1.7 percent and 2.1 percent, respectively. Passenger-car sales suffered throughout the January-March quarter compared with the same period in 2018 as Americans continued to abandon them in favor of larger, more comfortable pickup trucks and SUVs, which are far more profitable for automakers. The battle for market share in the particularly lucrative large-pickup truck market intensified in the quarter, as Fiat Chrysler Automobiles' Ram brand outsold the U.S.' No. 1 automaker General Motors' Chevrolet-brand trucks. The two automakers have both launched redesigned pickup trucks.

Nissan, Fisker in advanced talks on investment, partnership

Nissan is in advanced talks to invest in electric vehicle maker Fisker in a deal that could provide the Japanese automaker with access to an electric pickup truck while giving the struggling startup a financial lifeline, according to two people familiar with the negotiations. The deal could close this month, said the sources, who asked not to be identified because the talks are ongoing and have not been finalized. Terms being discussed include Nissan investing more than $400 million in Fisker's truck platform and building Fisker's planned Alaska pickup starting in 2026 at one of its U.S. assembly plants, one of the sources said. Nissan would build its own electric pickup on the same platform, the source said. Nissan has U.S. assembly plants in Mississippi and Tennessee. Fisker said on Thursday, when it announced it might not be able to continue as a going concern and would cut 15% of its workforce, that it was in talks with a large automaker for a potential investment and joint development partnership. It did not name the automaker. A Fisker spokesman said the company does not comment on speculation, while Nissan officials were not immediately available to comment. Fisker shares had been down about 45% before the Reuters report but pared those losses and were trading down about 25% with a market capitalization of more than $295 million. The term sheet is ready and the deal is going through due diligence, one of the sources said. Nissan was an EV pioneer with its fully battery powered Leaf hatchback in 2010 but has since struggled in the face of nimbler new entrants. A deal with Fisker would help it move into the growing U.S. electric pickup market. Nissan's talks with Fisker comes in the wake of the former's “rebalanced” relationship with its long-time alliance partner Renault. Last year, Nissan and Renault finalised terms of a restructured alliance after months of negotiations. They aim to have cross-shareholdings of 15% as part of the deal. The more limited alliance removes certain restrictions and has opened the door for Nissan to develop growth plans in areas such as EVs and software independent of Renault, said one of the sources, who is familiar with Nissan's thinking. The Yokohama-headquartered automaker is scouring “many, many opportunities,” the person said.

'Gran Turismo' movie trailer: No surprises, but more cars onscreen is a good thing

More movies about cars and racing is always a good thing in our book. The first trailer for the "Gran Turismo" movie dropped today, and while it focuses a lot on the gaming backstory, it looks like there will be a decent amount of actual wheel-to-wheel action as well. The movie is, of course, based on the hugely popular PlayStation series of video games. Now in its seventh installation, it revolutionized the racing game world with its massive library of playable cars, digitization of real tracks, and sound effects recorded from actual exhaust notes. Unlike other recent video games that have been adapted into blockbuster movies or TV shows with actual depth, "Gran Turismo" the game doesn't have a plot.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The movie follows the real-life story of Jann Mardenborough, a British "Gran Turismo" player who in 2011 became the youngest winner of the Nissan GT Academy. The program funnels gamers into real driver's seats, and Mardenborough beat out 90,000 global contestants. He's gone on to compete in the 24 Hours of Le Mans, the British GT Championships, and Formula E.  In the trailer we see what is likely a heavily dramatized version of the events. Mardenborough (Archie Madekwe) faces skeptical parents, skeptical driving instructor Jack Salter (David Harbour of "Stranger Things''), and a skeptical rival who doesn't believe gamers can really race (Josha Stradowski). About the only one who does believe in him is Danny Moore (Orlando Bloom), a marketing exec based on GT Academy head honcho Darren Cox. An obligatory love story is also wedged in there.  Since the real GT Academy was sponsored by Nissan, when Mardenborough graduates to real cars we see plenty of R35 GT-Rs, a 370Z NISMO, and a Ligier-Nissan LMP racer. Mardenborough's rival's car is perfectly cast as a chrome gold-wrapped Lamborghini Huracan. Background cars include an Audi R8, Porsche 911, Ferrari 458, and more. Surprisingly, there's no new Nissan Z, even though it seems like it would be the perfect car to include in a movie like this. The trailer reveals almost entirely how Mardenborough will overcome the odds, not that the end would have taken a genius to guess. At the same time, motor racing is an inaccessible sport for the average consumer.