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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.

Car and Driver shows off awesome 1960s ads

Someone must have recently rediscovered the keys to the archives at Car and Driver, and the access has been put to good use. Following last month's fantastic look at automotive ads from the '50s, there's now a new gallery running from March 1960 through December 1969. This collection provides a great overview of a decade full of iconic cars. If you're a fan of Carroll Shelby, particularly his Mustangs, then there's a lot to love among this group. One ad from July 1965 aimed to sell the GT350, but with an ocean of text and a tiny picture, it probably could've used a once-over by Don Draper's team. By December '65, the copywriters ironed out the problems with a spot proclaiming boldly "Shelby GT350 is 'Son of Cobra.'" The company offered some great accessories, too. For those into European motoring, there's a humorous attempt to sell the Alfa Romeo Giulia as both a racecar and family hauler. Toyota also boasts about the winning record for the 2000GT. Among the best text comes from BMW for lines like: "What's BMW got? The most advanced high-performance engine in any production car, for a cruising speed of 100 mph." Of course, Volkswagen's famous "Lemon" ad for the Beetle also gets its due here. Separately, each of these ads is fascinating, but taken together they tell the story of a great decade of motoring. Go give them all a read at Car and Driver. Related Video: News Source: Car and DriverImage Credit: GM Heritage Center Marketing/Advertising Read This Alfa Romeo BMW Ford Toyota Volkswagen shelby alfa romeo giulia shelby gt350 toyota 2000gt

Ford Focus Electric gets $6,000 price drop, now starts at $29,995

In early 2013, the Nissan Leaf shed a massive $6,500 from its $35,200 base price to offer a new starting price of $28,800. Since then, we have seen numerous other plug-in vehicles get smaller price tags, from the Honda Fit EV (lower lease price) to the Chevrolet Volt (around $5,000 lower) to the Mitsubishi i (a $6,130 drop). Last year, Ford lowered the $39,200 price of the Focus Electric by around $4,000, but that hasn't been enough to get the Ford EV to really compete, saleswise, with other plug-in vehicles on the market. But wait, as they say, there's more. This past weekend, Ford lopped another $6,000 from the price of both the 2014 model year Focus EVs currently on dealer lots as well as the redesigned 2015 models that are now rolling out (they're basically the same car, minus some appearance changes). Ford spokesman Aaron Miller confirmed to AutoblogGreen that the Focus EV will now start at $29,995 and said that reducing the price should make the Blue Oval's only pure EV competitive. "We hope by reducing the price we're giving consumers another reason to consider it," he said. Through the end of September 2014, Ford has sold just 1,534 Focus EVs in the US (the model sold 1,335 in the first nine months of 2013). For comparison's sake, the Nissan Leaf starts at $29,010 and sells around 3,000 units a month in the US. Miller notes that the Focus EV has been selling the best on the West Coast, and is also doing well on the East Coast. After that, he said Atlanta and the Great Lakes area also see decent sales of model's admittedly small pie. We can only assume that offering the EV for under $30,000 will make that pie somewhat bigger.