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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.

Mid-engine Honda sports car surfaces in EU patent drawings

Based on new patent drawings, Honda clearly isn't done with sports cars. The design you see above was registered and published by the European Union Intellectual Property Office (EUIPO) and was first reported by AutoGuide. The drawings show a rakish, angular sports car design that is very clearly mid-engine. It could almost pass for a Lamborghini. But the name on the design is Honda Motor Company, and aside from the name, it bares a strikingly similar appearance to a mid-engine design found in a Honda patent two years ago. In fact, the only major difference between this car and the older one (seen below) is the lack of a windshield and top. The shape of the lights and the grille, as well as the front fender vent and character lines running from it, are reminiscent of the S660 kei roadster for Japan. The large, angular intakes look more related to the Acura NSX, though. View 6 Photos Unlike the previous patent renderings of the car, this one has an interior, and the inclusion of it may be why the top and windshield are absent. The interior also leads us to believe that this design is for an upcoming concept. The steering wheel is a small, rectangular piece similar to what you would find in an F1 car or Indy car. The seats also look like thin buckets designed to be as sporty and light as possible. A production version would probably have a bit more cushioning and a round wheel. It does look like there is a pushbutton transmission setup in the center console like current Acuras, though. So what does this mean? Honda is clearly still working on this design, and based on some of the more radical design choices for the interior, we're likely looking at a concept car that will show up in the next couple of years. Whether a concept will lead to a production car is tough to say. There's definitely room in Honda's global sports car roster between the S660 and NSX for something in between, and Honda has reported that it's getting pressure from dealers for sporty cars. The exterior design isn't so extreme it couldn't be tweaked for production, either. There have also been rumors that Honda is preparing a mid-engine hybrid sports car with the Type R's turbocharged four-cylinder. Honda also holds a trademark for the name "ZSX," which fits the naming scheme of the NSX and old RSX, but at least in Europe, Honda has held the trademark since 2009. We'll just have to wait and see what Honda does.

Thieves still love older Hondas and pickups most, says NICB [w/video]

No one wants to have their car stolen, but a new study by the National Insurance Crime Bureau has some bad news for older Honda owners and pickup drivers. Fortunately, it has better news for drivers overall. The group is reporting that according to preliminary data from the Federal Bureau of Investigation, thefts were down 3.2 percent in 2013 (versus 2012) to fewer than 700,000 cars. That's the lowest figure since 1967. That's also less than half of the peak of over 1.66 million thefts in 1991. "The drop in thefts is good news for all of us," says NICB President and CEO Joe Wehrle. "But it still amounts to a vehicle being stolen every 45 seconds and losses of over $4 billion a year."
Honda drivers might not find it such good news with older Accord and Civic models topping this year's theft study. Toyota and Dodge can't really celebrate, either, with two models each on the list, as well. Overall, this year's list was split evenly between foreign and domestic models, which were mostly pickups.
The 10 most likely vehicles to be stolen in 2013 were: