2004 Infiniti G G35 Sport Coupe on 2040-cars

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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.

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.

Recharge Wrap-up: Infiniti PHEV, free biodiesel?

In certain cases, biodiesel is so inexpensive that it is essentially free to use. Thanks to the decline of crude oil prices, other fuels, including biodiesel, have been following the trend. After setting new renewable fuel mandates, Congress also reinstated a $1-per-gallon tax credit for refiners. With such low prices, Midwest refiners are paying as low as $0.645 per gallon. In California, however, additional incentives mean some customers could get money back on the biodiesel they use, depending on the deals between producers and blenders and whether or not they share the credits. Read more from Ag Web. Infiniti is considering adding plug-in hybrid technology to its vehicle lineup. Infiniti CEO Roland Krueger says that it will leverage the EV expertise from Nissan for the electrification of its cars. Don't hold out for a luxury version of the Leaf wearing an Infiniti badge, though. When asked if an all-electric Infiniti were out of the questions, Krueger says, "Performance and the range are very important in the premium segment, so we believe that for Infiniti a hybrid or plug-in hybrid is the right proposition at this time." Read more from Automotive News Europe. Hyundai Tucson Fuel Cell drivers in California have logged a cumulative 1 million miles. With nearly 100 Tucson Fuel Cells sold so far in Southern California, these drivers have prevented some 385 tons of CO2 emissions. "Breaking the seven-figure consumer mileage barrier gives us new vision into the unlimited zero-emissions potential for Hyundai's fuel cell vehicles," says Hyundai's Mike O'Brien. "With our growing fleet of hydrogen-powered Tucson fuel cell vehicles accumulating one million miles this quickly, one can only imagine the unlimited potential for a zero-emissions hydrogen vehicle future." Read more in the press release below. Hyundai Tucson Fuel Cell Drivers Accumulate More Than One Million Zero-Emission Miles Cumulative Zero-emissions Miles by Southern California Fuel Cell Drivers Breaches the Seven-Figure Mileage Barrier Fuel Cell clean H2O emissions effectively replaced approximately 385 Tons of CO2 emissions compared with gasoline vehicles of similar size FOUNTAIN VALLEY, Calif., Feb.