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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.

Does the 2017 Honda Ridgeline have street cred?

From a sales standpoint, the gen-one Ridgeline was an utter failure. It had a very narrow appeal, that being the suburban Harry Homeowner crowd. Traditional truckers hated it; no, make that HATED it! They hated it as much for what it was as for what it represented. It was assumed to be soft, a mommy truck; and to their eyes, it was ugly as sin. "Real" truckers would not accept the independent rear suspension, yet seemed ignorant about the fact that our military has been using IRS on severe-duty trucks for years. If IRS is good enough for the combat conditions, using it on a light-duty civilian pickup truck should be a piece of cake, no? I think there's also another issue at play here: classism. I suspect that many truckers didn't like those who were buying these trucks. Ridgeline buyers tend to be college-educated, suburban, and earn enough to have a decent if not better-than-average lifestyle. Many were schoolteachers, accountants, doctors, and lawyers – professionals. In short they weren't blue-collar, hard working, struggling-to-make-a-living truck guys. That didn't sit well with many. It was like their "space" was being invaded, maybe even their lifestyle was being threatened. I can't tell you how many derogatory comments I've read from traditional truckers over the last decade directed against Ridgeline owners. Many centered around a lack of masculinity of Ridgeline owners, or that that they were bought by people who didn't "need" a truck, that a minivan would have been a better choice. Many were owners of big diesel pickups who felt compelled to compare their heavy-duty trucks to this smaller mid-size truck. You get the picture. So here we are with the gen-two Ridgeline. Has Honda rectified its image as a truck maker? Yes and no. Yes in that the truck has shed its polarizing looks. In fact I think it's quite handsome, and will have a vastly broader appeal as such. Yes in the fact that it's been brought up to date mechanically, and the technology is vastly superior to the old model. Yes in fact that it should prove to be more economical than the old truck. Yes in the fact that it's more powerful, and that the AWD is vastly superior to what was offered before. Yes in the fact that it should function better, both as a truck and as a family vehicle. No in the fact that it will still be viewed as a "girlie truck" by many. No in the fact that there is no "macho" trim level available.

Goodbye, Shelby GT350; hello, new Honda Ridgeline and Subaru BRZ | Autoblog Podcast #648

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. This week's news includes Subaru teasing the next-generation Subaru BRZ, the Jaguar XE departing and the XF getting an update, Honda unveiling the new Ridgeline pickup and the Acura NSX suffering from slow sales. This week they talk about driving two vehicles on opposite ends of the spectrum: the Ford Mustang Shelby GT350 and the Volkswagen Atlas. Autoblog Podcast #648 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Subaru previews next-generation BRZ, announces fall 2020 unveiling date Jaguar XE axed from U.S. market: And then there was one sedan 2021 Jaguar XF gets new interior, down to four-cylinder engines and sedan body style 2021 Honda Ridgeline debuts, and it finally looks like a truck Acura NSX sales lagging Cars we're driving: 2020 Ford Mustang Shelby GT350 Heritage Edition 2020 Volkswagen Atlas Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: