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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.

2023 Infiniti QX55 starts at $50,175, an increase of $2,650

Infiniti has added "more standard luxury amenities, driver-convenience features, and Infiniti Premium Care" to all grades of the 2023 QX55. The plusher digs come at a price, though. The entry-level Luxe and mid-level Essential trims have each gone up by $2,650, the 2023 Luxe costing $50,175 after the $1,025 destination charge, the 2023 Essential costing $55,275. The top Sensory trim has only been increased by $750, rising to $58,825. The dosh buys perforated leather upholstery, 4-way power lumbar adjustment for the driver's seat, a USB-C port for the back passengers, rear door handles with integrated LED welcome lighting, auto-folding heated outside mirrors with blind spot detection, and ProPILOT Assist across the board. Three-year standard maintenance program Infinity Premium Care is thrown in, too, providing routine inspections, oil changes and tire rotations for purchasers and lessees. Every variant also comes with wireless Apple CarPlay, but Android Auto still requires a cord. Moving to the Essential upgrades to adaptive LED headlights in a cube design with auto leveling, adds Traffic Sign Recognition to the ADAS suite, and extends feature content with items like climate controlled front seats, around-view monitor, and 3D building graphics for the navigation system. The QX55 Sensory picks up even nicer leather seating, four-way power lumbar adjustment for the front passenger, heated outboard seats in the second row, a heads-up display, and a motion-activated rear hatch. The powertrain holds steady with the 2.0-liter variable-compression four-cylinder making 268 horsepower and 280 pound-feet of torque, "shifting" through a continuously variable transmission and sending power to both axles. The 2023 QX55 can be configured at the Infiniti site now, arriving at dealerships sometime this summer.

Infiniti teases November debut of new QX55 crossover-coupe

Infiniti will officially unveil its new QX55 crossover-coupe via social media on Nov. 11, Nissan's luxury subsidiary announced early Wednesday. Infiniti is calling it a return to the segment which the company helped pioneer when it launched the FX crossover back in 2002.  "With a roofline and visual elements inspired by the iconic Infiniti FX, the QX55’s provocative design will fuse the stance and versatility of a premium midsize crossover with the sleek profile of a sports coupe," Infiniti's announcement said. "Beyond its provocative looks, the QX55 will also feature innovative technologies designed to empower, engage and connect luxury customers to the road ahead." The announcement was accompanied by the above teaser image, which depicts the QX55's tapered liftgate. It's quite a bit more conservative than the previously released design sketch suggested, but certainly looks the part.  The QX55 is one of five new vehicles Infiniti plans to launch in the next three years. It was first teased last August during Monterey Car Week. While Infiniti has been leaning heavily on the heritage of the original FX (which later became the QX70) since releasing that first design sketch, the QX55 will actually have little in common with its spiritual ancestor. While they may share fastback SUV looks, the QX55 will be based on the QX50 — a modern, front-wheel-drive crossover with small, efficient engines. The FX was derived from Infiniti's sport sedans and coupes, and even boasted a V8 option for much of its existence. Production of the new crossover-coupe was slated to begin in June, but was reportedly pushed back due to complications at its production facility in Aguascalientes, Mexico. The facility is a joint-venture project between Mercedes-Benz parent company Daimler and Nissan, and produces several other front- and all-wheel-drive vehicles for both companies.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.