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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's Palmer announces QX30 small crossover production

The name of the game these days in the luxury marketplace is premium compacts. BMW has the 1 Series and 2 Series, Mercedes the A-Class, B-Class, CLA and GLA, Audi has the A1 and A3, even Lexus has the CT 200h. Among the last to get in on the action is Infiniti, but that's all about to change.
Nissan's luxury brand has been working towards a premium compact for some time, revealing the Q30 concept at the Frankfurt Motor Show last year and signing a new deal with Daimler to help develop and produce it. Now it seems that both it and a crossover version have been approved for production.
The news comes from Andy Palmer, Nissan's UK-based COO, chairman of Infiniti and one of the company's top executives under CEO Carlos Ghosn. Late last week Palmer tweeted the following:

Infiniti Prototype 10 single-seat speedster unveiled at Pebble Beach

PEBBLE BEACH, Calif. — Infiniti's new Prototype 10 takes inspiration from last year's Prototype 9 concept, but instead of minimal bodywork and open wheels, adopts the long and sinuous profile of classic speedsters of the past. And the concept's electric powertrain hints at the Japanese automaker's future. Infiniti says that all new production models from 2021 onward will have some sort of electrification, spread across pure battery-electric vehicles, parallel hybrids and e-POWER series hybrid powertrains. The overall shape of the Infiniti Prototype 10 recalls classic race cars like the 1950s-era Jaguar C- and D-Types. There's virtually zero wind protection for the single passenger, but there's a prominent headrest that incorporates a fin-shaped aero element. Air intakes are plentiful and festooned with close-set vertical bars that remind us of last year's Prototype 9 concept. There are lots of striking details in the Prototype 10's flowing bodywork. Slim, almost slit-like lights up front sit below the level of an Infiniti logo highlighted by negative space. In profile, a virtual line cuts across the vehicle front to rear. We look forward to seeing how some of these elements are incorporated into future production vehicles from Infiniti. View 17 Photos We don't have any details on what's actually powering the Prototype 10 as its sits, other than the fact that it's electric, of course. But we do know that the concept uses Infiniti's steer-by-wire Direct Adaptive Steering system. We can also see that the interior compartment is minimalist in design, clearly in an effort to keep the driver's focus firmly on the road ahead. Though much of the commentary surrounding the Prototype 10 will undoubtedly be about its radical bodywork, it may be the vehicle's chassis that is most relevant to Infiniti's production electric vehicle plans. The company describes the Prototype 10's chassis as rigid, modular and flexible with a flat floor and says such a platform would underpin its future electrified vehicles, including sedans, SUVs and sportscars. Stay tuned for more on the Infiniti Prototype 10 as we meander the remainder of Monterey Car Week here in California. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.