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U.S. auto sales fall in July, as Detroit dials back on inventory, rental sales

DETROIT — U.S. carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets in July as General Motors, Ford and Fiat Chrysler Automobiles struggled to curb a slide in retail sales. July is on track to be the fifth straight month in which the annual pace of car and light truck sales declined from the same month a year ago, in part because of fewer fleet sales, analysts and industry executives said. July 2016 sales hit a strong 17.9-million-vehicle pace. GM said the seasonally adjusted annual sales rate fell to an estimated 16.9 million vehicles in July. At midmorning on Tuesday, GM shares were down 3.4 percent at $34.77, Ford was down 2.8 percent at $10.91, and Fiat Chrysler shares were down 0.3 percent at $12.05 in New York. GM sales dropped 15 percent from a year ago to 226,107 vehicles, as the company cut rental fleet sales more than 80 percent. The automaker said inventories of unsold vehicles at month's end were 104 days, down from 105 days at the end of June. GM has promised investors to reduce inventories to 70 days by year-end. Ford said its July sales dipped 7.5 percent to 200,212 vehicles, as it cut fleet sales more than 26 percent. Inventories fell to 77 days from 79 the previous month. Fiat Chrysler said sales dropped 10 percent to 161,477, as it also cut back sales to daily rental fleets. Among the top Japanese companies, only Toyota reported a year-to-year gain, with sales up 4 percent to 222,057 — just 4,000 units behind GM. Honda sales were down 1 percent to 150,980 — its first-quarter sales continuing to decline in North America but seeing a big increase in China. And Nissan sales fell 3 percent to 128,295. GM, Ford and Fiat Chrysler have cautioned that second-half financial results likely will be lower than first-half results, in part reflecting production cuts in North America and pricing pressures. The automakers this year have been deliberately dialing back sales to rental-car companies, which often generate little to no profit, while struggling to keep retail sales from sagging further, according to industry analysts. Industry consultant LMC cut its full-year forecast for new vehicle sales to 17 million vehicles. Automakers sold a record 17.55 million vehicles in the United States in 2016.

Automakers drop support for Trump effort against California emissions

WASHINGTON — Toyota, Fiat Chrysler (now known as Stellantis following its merger with Peugeot) and other major automakers said on Tuesday they were joining General Motors in abandoning support for former President Donald Trump's effort to bar California from setting its own zero emission vehicle rules. The automakers, which also included Hyundai, Kia, Mitsubishi, Mazda and Subaru, said in a joint statement they were withdrawing from an ongoing legal challenge to California's emission-setting powers, "in a gesture of good faith and to find a constructive path forward" with President Joe Biden. The automakers, along with the National Automobile Dealers Association, said they were aligned "with the Biden administrationÂ’s goals to achieve year-over-year improvements in fuel economy standards." Nissan in December withdrew from the challenge after GM's decision in November shocked the industry and won praise from Biden. On Monday, the Justice Department asked the U.S. Appeals Court for the District of Columbia to put the California emissions litigation on hold to "ensure due respect for the prerogative of the executive branch to reconsider the policy decisions of a prior administration." Biden has directed agencies to quickly reconsider TrumpÂ’s 2019 decision to revoke CaliforniaÂ’s authority to set its own auto tailpipe emissions standards and require rising numbers of zero-emission vehicles, as well as Trump's national fuel economy rollback. Asked to respond to the automakers' action, White House climate adviser Gina McCarthy said in a statement that "after four years of putting us in reverse, it is time to restart and build a sustainable future, grow domestic manufacturing, and deliver clean cars for America." California Governor Gavin Newsom praised the automakers on Twitter for "dropping your climate-denying, air-polluting, Trump-era lawsuit against CA" and urged them to join the voluntary framework. TALKS WITH BIDEN Separately, an industry trade group on Tuesday proposed to start talks with Biden on revised fuel economy standards that would be higher than Trump-era standards but lower than ones set during the prior Democratic administration. The Trump administration in March finalized a rollback of U.S. Corporate Average Fuel Economy standards to require 1.5% annual increases in efficiency through 2026, well below the 5% yearly boosts under the Obama administration rules it discarded.

Ford announces recall of 220,000 units in three different actions

Ford has announced three separate recalls affecting 220,000 vehicles built between model years 2011 and 2015. By far the biggest affects just under 213,000 Ford Explorer and Police Interceptor Utility SUVs from MY2011 through 2013. In these vehicles, a spring in the doorway handle could be come unseated, Ford reports, causing the doors to open in a side-impact accident. The affected vehicles were built over a wide range of dates, starting with February 1, 2011 and November 30, 2012. As usual, the majority of the 212,911 vehicles were sold in the US market – 194,484 vehicles, in fact, while Canada and Mexico split the remainder, with 12,392 and 6,035, respectively. The other two recalls focus on specialty vehicles, with Ford recalling 6,500 F-Series Super Duty ambulances and emergency trucks from model years 2011 to 2015. In the case of the 2014 and 2015 F-Series, only trucks with the 6.7-liter turbodiesel are affected. These trucks may have faulty exhaust gas sensors, which according to Ford, could cause the trucks to think they're in a high-temperature situation. The trucks in questions were built at Ford's Kentucky truck plant between February 22, 2010 and February 1, 2015. Finally, the Blue Oval is recalling 1,725 specialty Lincoln MKT crossovers from MY2013 to 2015. These include limos and hearses built between March 6, 2012 and March 4, 2015. Affected MKTs may have a faulty vacuum pump relay that could cause a fire under the hood. In the case of the Explorers, dealers will inspect all four door handles and repair them as needed. The Super Duty's will get software updates, while the MKTs will have the vacuum pump relays replaced outright. A pair of MKT fires has been the only reported incident caused by the recalled components, while the company is unaware of any injuries or deaths. Scroll down for the official press release from Ford. Related Video: FORD ISSUES THREE SAFETY RECALLS IN NORTH AMERICA DEARBORN, Mich., March 25, 2015 – Ford is issuing three safety recalls in North America. No accidents or injuries are attributed to these conditions. Details are as follows: Ford issues safety recall for certain 2011-2013 Ford Explorer and Ford Police Interceptor Utility vehicles for interior door handle issue Ford is issuing a safety recall for approximately 213,000 2011-2013 Ford Explorer and Ford Police Interceptor Utility vehicles in North America (actual 212,911) for an issue with the spring that controls the interior door handles.