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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.

Honda's U.S. Plants Build Ten Million Accords, 20 Million Total Vehicles

The ten millionth American-built Honda Accord rolled off the assembly line Friday at the Japanese automaker's plant in Marysville, Ohio, according to Autoblog. Honda is celebrating not only the Accord, which is the seventh best selling nameplate of all time, but also an accumulative 20 million Hondas built in the U.S. since the company first started manufacturing at Marysville in November 1982. Honda was the first Japanese automaker to gamble on American manufacturing. Now, 94 percent of all Hondas sold in the U.S are American-built. They are made in facilities in Ohio, Alabama and Indiana. Honda's U.S. plants manufactured 1.3 million vehicles last year - a company record. Honda currently builds the best-selling Civic and Accord, as well as the Crosstour, CR-V, Pilot, Odyssey and Ridgeline in the U.S. Acura, Honda's luxury brand, also builds cars at the American plants, including the ILX, TL, RDX and MDX. Related Gallery History's 10 best-selling cars of all time View 11 Photos By the Numbers Honda

Top Gear hosts' classic bikes head for auction

The BBC seems quite certain that Top Gear is making a return to television in 2016, but James May and Richard Hammond are extremely unlikely to be among the hosts. Instead, the two of them are probably following Jeremy Clarkson into any future endeavors, but for the time being that leaves the Little One and the Slow One unemployed. They won't have to worry too much about spending money in the meantime, though, because Bonhams is selling 12 motorcyles owned by the former TG stars on April 26. "Just because I'm unemployed now doesn't mean I have to get rid of everything. I was going to sell these bikes anyway. And those paintings, and my collection of Scalextric cars. Honest," May joked to Bonhams. However, the auction house was clear in its announcement that the cycles were consigned to the Spring Stafford Sale in the UK months before the Top Gear fracas. Eight of the bikes come from May's collection and are generally small-bore, Japanese models. They include a 49cc 1974 Yamaha FS1-E and a 1976 Suzuki AP50 E, but there's also a very attractive 1980 Ossa 250cc MAR trials bike. If you're looking for a bit more performance, Hammond's four offering include a 2010 Norton Commando 961SE and a 1970 Triton 500cc cafe racer. He's also selling a Yamaha FS1-E, though a year newer than May's. Unfortunately the Vincent Black Shadow and Honda RC30 the hosts are riding in these photos aren't part of the lots, but the whole list of the available models can be read in the announcement below and checked out in the gallery, above. Bonhams Spring Stafford Sale will include 12 motorcycles belonging to Richard Hammond and James May, former presenters of the popular motoring programme, Top Gear. May and Hammond discussed the sale of their respective motorcycles in their usual humorous manner: "Just because I'm unemployed now doesn't mean I have to get rid of everything," said May. "I was going to sell these bikes anyway. And those paintings, and my collection of Scalextric cars. Honest". Hammond added: "As a serious collector of motorcycles, it's important to review one's stable regularly, and the Bonhams Stafford sale is the ideal opportunity to move bikes on and possibly acquire new ones. I also have a canoe, and some Wharfedale hi-fi speakers, if anyone's interested".