1999 Ford F 450 Bucket Truck Boom Lift Utility No Reserve on 2040-cars

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The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

Ford Smart Mobility plan moves forward with P2P car sharing

Back when 2015 was still just days old, Ford Motor Company outlined its Smart Mobility plan at the Consumer Electronics Show in Las Vegas. It consisted of 25 global experiments meant to test out various ideas, with a stated goal of learning how to better address future transportation needs and direct the company's efforts. Six months later, Ford is ready to take what it's learned and move to the next phase. During the keynote address at the 5th annual Further with Ford future trends event – this year held, significantly, in Palo Alto, California – CEO Mark Fields announced Smart Mobility is moving from experimentation to implementation. Mostly. On the more concrete action side of things, Ford Credit Company is working with partners in the US and London, England on a pilot peer-to-peer car-sharing program. Stateside, this will see it team up with Getaround, inviting some 14,000 people in six cities to sign up for pre-screened, short-term car rentals. Across the pond, Ford will work with easyCar Club, targeting 12,000 folks in a similar service. Smart Mobility will also bring the GoDrive one-way car sharing program under its umbrella, upgrading it from what it calls an experiment to an actual pilot program. Fields also revealed a new electric bike design called the MoDe:Flex. The sporty model joins its two previously announced brethren, the MoDe:Me and MoDe:Pro. MoDe:Link, the app that provides a variety of info and allows for eyes-free navigation using hand grips that give haptic feedback to parlay direction changes has been extended to run on an Android smart watch. There, the app can process a rider's biofeedback signals to alter output. For instance, in "no sweat" mode, the bike will pick up more of the workload as your heart rate increases, keeping you from overexerting yourself. None of the bikes are being offered for sale, or for use as part of any sort of sharing program. At least, not for now. Instead, they remain in the realm of multimodal mobility experimentation. Check out the video above for a closer look at Ford's P2P car sharing plans or move down for a look at its latest ebike. You can find lots of detail about the shift in the Smart Mobility plan in the official press release, which is also below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2016 Ford Focus RS leaked ahead of official debut

We won't officially see the new Ford Focus RS until the Blue Oval shows it to the world at an event on Tuesday, but here it is ahead of time, courtesy of the folks at Evo. As you can see, this is one hot little hatch, and if Evo's story is to be believed, those aggressive looks will be backed up with some pretty serious performance. Power is said to come from Ford's 2.3-liter EcoBoost inline four-cylinder engine, though the magazine's estimate of 250 horsepower seems awfully conservative to us (considering that's less than the current Focus ST). If earlier reports are to be believed, we think the RS will come packing more like 300 hp, if not more. For the first time, the Focus RS will use all-wheel drive with brake-operated torque-vectoring, and Evo says that up to 70 percent of the engine's power can be sent to the rear wheels. Hitting 60 miles per hour will reportedly take less than five seconds. Otherwise, it's business as usual, with a mean-looking exterior complete with the necessary aero bits (notice that wing!), and inside, we can see a beefy set of Recaro chairs. That's really all we know for now, but stay tuned for more when the Focus RS makes its official debut in the not-too-distant future. Related Video: