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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 will build 2014 Accord Hybrid in Ohio

Honda has announced that it will invest $23 million in its Marysville, Ohio facility to support production of the upcoming 2014 Accord Hybrid sedan. According to the manufacturer, this means approximately 50 new jobs will be created, and the whole investment will result in a 95,000-square-foot expansion of the Marysville plant.
The Accord Hybrid joins the decidedly homely Accord PHEV (pictured) this fall, using a 2.0-liter i-VTEC Atkinson cycle four-cylinder engine mated to a 124-kilowatt electric motor. Honda has yet to release official power or fuel economy figures for the non-plug-in hybrid version of the Accord.
Honda currently operates four manufacturing facilities in Ohio, with the combined capacity to build up to 700,000 cars and light trucks each year. The Japanese automaker also has a facility in Greensburg, Indiana, where the Civic Hybrid and Acura ILX Hybrid are built.

McLaren working on P15 supercar to slot between 650S and P1

McLaren has been busy these past few years. It launched the MP4-12C in 2011, the 12C Spider in 2012, the P1 in 2013 and (most recently) the 650S in 2014. But it's not about to stop there. It's got an "entry-level" model in the works, set to take on the Porsche 911, and - according to information reported by Car and Driver and confirmed by McLaren in correspondence with Autoblog - a new flagship model, too.
The project is internally codenamed P15, and it calls for a new flagship that will cap the company's lineup once the P1 finishes its limited production run, but carry a price tag in the neighborhood of $500k to slot in between the P1 and the new 650S.
Just how, you wonder, can McLaren possibly develop another supercar each year? Simple: underneath, they're all essentially the same. (Only we're sure it's anything but simple.) That is to say they're all based on the same carbon monocoque structure and powered by the same 3.8-liter twin-turbo V8 mated to a seven-speed dual-clutch transmission driving the rear wheels. What differentiates them is what the engineers in Woking build around that monocoque and how they tune the engine: +/- 600 horsepower in the 12C (depending on the year it was built), 640 hp in the 650S, or 727 hp in the P1 (with another 177 from the electric assist). The 911 fighter would likely develop in the 500hp range, and the P15 will probably land in the upper 600 (or lower 700) range.