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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.

2017 Infiniti QX30 price anounced ahead of September launch

The 2017 Infiniti QX30 will start at $30,945 for the base model and will max out at $39,495 for the Sport trim. The oversized hatchback will be available in six different trims: the QX30, QX30 Luxury, QX30 Premium, QX30 Sport, QX30 Luxury AWD, and QX30 Premium AWD. There will also be a 2017 QX30 Reservation Program for buyers interested in getting their hands on the car first. Buyers in the program will be able to choose from a selection of gifts to go along with their new QX30. The QX30 Luxury starts at $33,595, while its AWD variant is $1,800 more. The QX30 Sport, which is front-wheel drive only and is 0.6 inches lower than the rest of the lineup, is priced at $39,495. The QX30 Premium will start at $36,295 with the QX30 Premium AWD commanding an additional $2,400. All trims are powered by a 2.0-liter turbocharged inline-four that puts out 208 hp and sends power to a seven-speed dual-clutch gearbox. While the QX30 borrows a lot of components from the Mercedes-Benz GLA-Class, it's priced lower than its German counterpart. The Mercedes GLA250 starts at $33,775, while the GLA250 4Matic is priced at $34,775. The QX30 also comes in under the Acura RDX ($36,510), BMW X1 ($34,095), Audi Q3 ($34,625), and the larger Lexus NX 200t ($35,915). The QX30 will hit showroom floors in September.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2017 Infiniti QX30 View 19 Photos News Source: InfinitiImage Credit: Infiniti Infiniti Mercedes-Benz Crossover Hatchback Luxury infiniti qx30

Daimler and Nissan to build luxury cars at new plant in Mexico

A few years back, when Daimler was looking for a partner to spread the cost of development of small cars, it agreed to collaborate with Nissan on future products, such as vehicle platforms and drivetrains. The latest development in the collaboration concerns the assembly of small luxury cars for Infiniti and Mercedes-Benz at a Nissan plant in Mexico, two unnamed sources told Reuters.
The plant in question, Aguascalientes, is a $2 billion project that will open later this year next to an existing Nissan factory. The upcoming Infiniti Q30 four-door hatchback is expected to be built there, possibly alongside the Mercedes GLA-Class, which is one of several candidates Mercedes is considering to build at this facility, Reuters reports. The GLA will debut at the Frankfurt Motor Show this month, and initial production of the model will take place in Germany. The Q30 could follow a similar path, with assembly starting at Nissan's Sunderland plant in the UK, and then expanding to Aguascalientes later on.
The underlying platform of the Q30 and GLA, codenamed New Generation Compact Car (NGCC), was developed by Daimler. The Q30 would be the first Infiniti produced under the automakers' agreement. Last year, Nissan agreed to make engines that would find their way into Mercedes and Infiniti vehicles.