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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.

2015 SEMA Show Recap | Autoblog Minute

We take a trip to Las Vegas for a preview of the 2015 SEMA Show, the trade show for automotive aftermarket professionals and enthusiasts. Autoblog's Eddie Sabatini reports on this edition of Autoblog Minute, with commentary from Senior editor, Greg Migliore. Chevrolet Ford Honda Mazda Autoblog Minute Videos Original Video galpin

Honda recalling 183k cars and crossovers over unintended braking issue

A recall has been issued for nearly 183,000 Honda and Acura brand vehicles from the 2005 and 2006 model years. The problem stems from a potential malfunctions to the vehicles' stability control and braking systems.
Drivers have reported a malfunction to Honda's Vehicle Stability Assist system, though to date, no crashes or injuries have been reported as a result of it. Some of the vehicles' Vehicle Stability Assist (VSA) control units may have an electric capacitor that was damaged during manufacture. A damaged control unit could cause the VSA system to apply brake force for a "fraction of a second" without any driver input, or could add additional brake force if it malfunctions while the driver is already braking. Either example could increase the risk of a crash.
To fix the issue, Honda will install a new electrical sub-harness, free of charge to the owner. The recall specifies 101,000 Honda Pilot (pictured), 60,000 Acura MDX and 21,000 Acura RL vehicles from the 2005 model year will be affected. An additional 800 MDX crossovers from the 2006 model year are also included in the recall. In addition, 51,000 of the affected 2005 Pilots will be inspected to be sure that a ground bolt for the VSA system is properly tight. Should this bolt come lose, similar unexpected brake activation may occur.