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Hot sales have Detroit automakers shortening summer shutdowns

Back in May, there was speculation that the Detroit Three automakers would maintain or perhaps even extend their traditional summer shutdowns, mostly due to a bitingly cold winter that saw below-freezing temperatures infiltrate the southernmost reaches of the US, putting a chill on auto sales. Now, though, the numbers are in, and thanks to some promising sales figures, it looks like some domestic line workers are going to be working clear through July, in some cases.
According to Automotive News, Ford has slashed its traditional two-week hiatus for factory workers in half at four of its plants, while both Chrysler and General Motors will keep factories running nonstop (two plants in Chrysler's case and a third of GM's factories).
This is, as we said, thanks to some positive numbers. Chief among those is the Seasonal Adjusted Annual Rate, which was at an eight-year high of 17 million units. Individual figures were less promising. GM, embroiled in its recall scandal, still saw a one-percent increase while Ford dropped six percent in year-over-year sales. Chrysler was the big winner, though, with a nine-percent jump in June.

Jay Leno drives postcard-perfect '32 Ford Highboy Roadster

At the turn of the century, it was arguably the Honda Civic that best defined inexpensive performance tuning, and in the '50s it was the Tri-5 Chevys. One of the earliest platforms to gain a huge following among young people looking for a cheap way to go fast was the classic '32 Ford Highboy Roadster. This week, Jay Leno's Garage looks at one of the very first vehicles that defined the look of the hot rod heyday.
This '32 Ford was built in the '40s and graced the cover of the fourth issue of Hot Rod Magazine back in 1948. All of the hot rods that you see shining at car shows today owe a serious debt of gratitude to this roadster. It bears all of the cues that define the look, including a notched frame and hidden door hinges. Under the three-piece hood is a flathead V8 boasting all sorts of period modifications, including copper cylinder heads. It was seriously fast in its era too, and proved it by reaching 112.21 miles per hour on a dry lakebed in 1947.
These days, this hot rod is on display at the Petersen Automotive Museum. Although, if you can't make it to California to see it, the United States Postal Service is celebrating this Ford with one of its two hot rod Forever stamps. Like Jay says in the video, in terms of hot rodding, "it all comes back to this." Check out the video to learn more about this rolling piece of tuning history.

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.