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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.

Infiniti Emerg-E Concept

The Infiniti Emerg-E is a two-place hybrid gasoline-electric concept that made its world debut at the 2012 Geneva Motor Show. While its sleek shape and stunning styling dropped jaws, those on the green side of things immediately recognized it as a reskinned and updated Lotus 414E - itself a concept based on the Evora that debuted at the same show only two years earlier. Yet there is little wrong with a reworked, Infiniti-badged Lotus boasting 402 horsepower and 738 pound-feet of torque, especially when it features a lightweight, all-aluminum bonded chassis beneath an attractive carbon fiber skin penned by the automaker's Southern California design team.
The hybrid powertrain is all contained aft of the cockpit. Primary propulsion is accomplished with two electric motors, one on each rear wheel, both featuring its own single-speed transmission (this design eliminates the need for a differential and provides electronic torque vectoring control). Energy for the electric motors is stored in a 15-kWh lithium-ion battery placed behind the seats, which is chemically different from the lithium-polymer pack Lotus used in its 414E. Auxiliary propulsion comes from a Lotus-designed, all-aluminum, 1.2-liter three-cylinder gasoline engine, rated at 50 horsepower, that serves as a range-extender after the 30-mile life of the battery pack is extinguished. Teamed with an 8.1-gallon fuel tank, the combo allows the Emerg-E to cruise about 300 miles without stopping.
Offered the chance to take the Emerg-E for a quick loop around an autocross course in Southern California, I jumped at the opportunity.

Andy Palmer leaves Renault-Nissan to serve as CEO of Aston Martin

Aston Martin has been without a helmsman since Ulrich Bez stepped down from the chief executive office at the end of last year, stepping back to serve as non-executive chairman in a semi-retired ambassadorial capacity. The British automaker, now on the cusp of a new era, has been running without a CEO since, but has now named Bez's replacement in Andy Palmer.
If you don't recognize the name, you should: Palmer has worked under the Renault-Nissan Alliance for decades now, rising through the ranks to become one of the top executives under Carlos Ghosn. Most recently he was serving as executive vice president of the entire group and chairman of the Infiniti brand, but like Carlos Tavares, who recently left Renault to run Peugeot, Palmer is now embarking on a new mission as CEO of Aston Martin.
Once the transition period is complete at the start of October, Palmer's role as Chief Planning Officer at Renault-Nissan will be assumed by Philippe Klein, who steps up from his current role as executive vice president of product planning for Renault. Read the statements from both companies below.