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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.

More powerful 2017 Toyota 86 takes over for the Scion FR-S

Scion is dead, and the FR-S name passes away with it. The rear-wheel-drive sports coupe isn't gone, though, because it's now the the 2017 Toyota 86. To match the new moniker, the latest model finally has a little extra power and more aggressive styling. The public debut will take place at next week's New York Auto Show, and sales begin this fall. "When we announced the transition of the Scion models to Toyota we hadn't planned on changing the names of our cars, but by popular demand, for our sports car, we decided to adopt the global name of 86," said Toyota Division Group Vice President Bill Fay. The 2.0-liter boxer-four's output grows to 205 horsepower and 156 pound-feet of torque – increases of 5 hp and 5 lb-ft – on manual-transmission models. The 86 still isn't the turbocharged rear-wheel-drive coupe of some people's dreams, but at least this is an improvement. (Buyers who opt for the automatic will have to make do with less power and fewer pedals.) Toyota also promises "additional performance" thanks to different gear ratios for the six-speed manual transmission, and there's now Hill Start Assist Control. New shock tuning and spring rates will affect the handling, too. The 86 wears a meaner look than the outgoing FR-S. The biggest change is a new front bumper with a large intake that stretches across the coupe's width, and the two sharp points along the bottom look like teeth ready to chomp down. Toyota also replaces the headlights and taillights with LED units. The twist-spoke wheels are a great accompaniment to the more aggressive look, too. The tweaks are more modest inside, including silver stitching and new materials for the dashboard and doors. Toyota will also display the C-HR crossover concept again in the Big Apple. We won't see the production version until later this year, and sales won't begin until spring 2017 as a 2018 model. Related Video: Toyota to 86 the FR-S Name New Toyota 86 and Charismatic C-HR Concept on Display at New York Auto Show TORRANCE, Calif., March 17, 2016 – With its new home comes a new name and more. The former Scion FR-S will debut as the 2017 Toyota 86 at the New York International Auto Show with interior and exterior changes, as well as suspension and powertrain upgrades. The new Toyota 86 will go on sale at all Toyota dealerships this fall.

Toyota's Texas move could boost state's economy by $7.2B in 10 years

They say everything is bigger in Texas, and apparently that includes the Toyota's effect on the economy. The giant Japanese automaker's new headquarters in Plano, TX, will add an estimated $7.2 billion to the state over the next 10 years, according to a new study commissioned by the city and cited by Bloomberg.
The benefits appear to be an absolute steal compared to the direct incentives that Plano and the state are giving Toyota. The report finds that by the time the automaker's campus is complete in 2018, it could have 3,650 full-time workers there at an average salary of $104,000. The city has prepared $6.75 million in grants, plus property tax discounts, according to Bloomberg. In addition to that, the state is offering the business $40 million in incentives from its Texas Enterprise Fund. This is still a fraction of what Toyota is estimated to bring in.
Toyota announced in April that it would move its US operations to Plano after being headquartered in California since 1957. The move affects thousands of employees from the sales and engineering divisions. The first workers will arrive there this fall, but Toyota will eventually have a whole campus in Plano by late 2017. The move is expected to save it huge amounts in taxation and offer employees a lower cost of living. Toyota North America CEO Jim Lentz also says that the Texas location puts the headquarters closer to more of the business' factories in the south. Texas certainly appears to be showing it some southern hospitality.