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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.

These are the top luxury cars bought by people entering the segment for the first time

Let's say you just got a big promotion at work or the kids are moving out of the house, and you finally have some extra money. You decide to blow it all at once and treat yourself by upgrading your ride. Naturally, you look to a luxury automaker. What do you choose?
Models like the Audi A3 and Mercedes-Benz CLA-Class may be tailor-made to introduce buyers to the premium segment, but a new study finds that they don't garner the highest rates of non-luxury customer conquests. It turns out that a Volvo leads among folks moving up to a premium brand, and it isn't even one that's made anymore, at that.
A recent study by Polk and IHS Automotive looked at what models had the highest rates of buyers upgrading from a non-luxury segment. The information comes from its new vehicle registration data through April 2014. All ten top models boasted conquest rates of over 50 percent, but the Volvo C70 led the field with 68.01 percent of its customers coming from non-premium brands.

Infiniti QX Inspiration crossover EV is another step toward a grille-less future

Infiniti has released its first image of its Detroit Auto Show concept car, and unsurprisingly, it's electric, and it's a crossover. Also, just as Nissan's design vice president hinted at last year, it pushes the design ideas of the Q Inspiration sedan concept a little farther, and in an arguably more controversial direction. Whereas the Q Inspiration concept had a mostly closed off grille with only a few openings, it was also still set back in a clear grille design. The QX Inspiration concept leaves the entire front end perfectly flush. There are still hints of a grille with metallic trim at the top and bottom that suggest a classic Infiniti grille shape, and the badge and logo float in the middle to further the idea. It's an interesting idea, but the ideas of having a grille and going without seem to be a bit at odds, and the result is a bulbous, flabby nose that doesn't flatter either design philosophy. We suppose it could be worse, though, and it may look better in person. What we don't question is the product type. An electric crossover seems like the exact vehicle the car market is looking for. Infiniti hasn't gone into detail about powertrain specifics besides it using electricity and that it previews future electric platforms. Nissan's design V.P. noted that the company will be introducing more full electric vehicles, and this concept could feature an e-Power series hybrid powertrain in which the gas engine mostly exists as a generator. So it's possible that a future Infiniti crossover EV could be offered in full electric and range-extender variants. We'll have more information and photos when the QX Inspiration makes its official debut at the Detroit Auto Show on January 14. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.