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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.

Four-horse race opens up for next Chrysler-Fiat CEO

There are some companies that could change leadership overnight and still remain more or less the operations that they are. But some have built themselves up around one central figure. Just ask Carlos Tavares, who found he couldn't escape the long shadow of Renault-Nissan CEO Carlos Ghosn. Tavares recently left to find his own limelight. But Ghosn isn't the only executive who presides over two disparate automakers on opposite ends of the globe.
Having built up Fiat and Chrysler around himself, we can hardly imagine either automaker getting along without Sergio Marchionne. But the day will come when the famously sweater-clad bigwig will step down. The pressing questions remain when when that day will come, and who will take his place. The only solid clues we have are in the statements made mostly by Marchionne himself, but those statements have been all over the place. When speaking to Automotive News in 2012, he said he would step down "no earlier than 2013, no later than 2015." But a year later, he had already seemingly changed his tune, indicating he could still be at the helm in 2016. Fiat chairman John Elkann seems to think Marchionne, 61, could and should stay on longer.

Chrysler's completely redesigned 200 caught totally uncovered

Preparing for a big debut at the Detroit Auto Show next month, the all-new 2015 Chrysler 200 was out for a late-night photo shoot fully undisguised, and our spy shooters were there to capture its all-new design completely uncovered. While there's no camouflage, the cover of darkness proved to be almost as effective, but we still get a good idea of what this former sore spot in the brand's lineup will look like after its clean-sheet redesign.
The first thing we notice is the stylish four-door-coupe roofline doing its best to impersonate something like the Audi A7, or maybe the Volkswagen CC. The front-end styling is a departure from recent Chrysler designs with narrow headlights and an equally short, chrome-trimmed grille. In profile, the bullet-nosed 200 is somewhat reminiscent of the Tesla Model S. This new design language should definitely help the 200 get noticed in a segment filled with hot sellers like the Toyota Camry and Honda Accord, as well as more stylish offerings like the Ford Fusion and Mazda6.
Our spies also caught up with the 200 testing in daylight and got some good shots of the interior. The instrument panel design looks similar to what is found in the Dodge Dart, including the oversized instrument gauges and possibly even the LED accent lighting. We would have to assume - and hope - this prototype is a test model due to its small touchscreen display, as Chrysler's 8.4-inch screen would look much better in its place. The center stack and console are clean with minimal buttons and knobs, but we do see a rotary gear selector, which may confirm reports from last year that suggested the 200 will use a nine-speed automatic transmission to help hit 38 miles per gallon on the highway.