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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.

The Infiniti Q60 Black S gets an F1 KERS system

This is the Infiniti Q60 Black S that will be debuting at the Geneva Motor Show, sporting some intense bodywork and an F1-inspired powertrain. It exists to draw a closer parallel between the Renault F1 program and the Infiniti brand – a relationship that's surely easier to understand in Europe than it is here, but so be it. Other than the wild bodywork, which includes a heavily sculpted front fascia, bigger side sills, two howitzer-sized exhaust pipes, and a massive rear wing, there's the F1-inspired KERS system. Exactly what that will be is up in the air; the F1 system is complex and expensive. While Infiniti says they want to engineer a road-going solution that's as similar as possible to the F1 KERS system, it's likely it'll be watered down a bit for production. View 12 Photos All in all, the 3.0-liter, twin-turbo V6 and the KERS system should combine to produce about 500 horsepower. That's all well and good, if it makes it out of concept car purgatory. Remember the Q50 Eau Rouge, the last Infiniti that got car enthusiast's undivided attention? Well, it got canceled. We're not sure what the appeal of an F1 tie-in would be to American shoppers, so who knows if the Black S will emerge as a rest-of-world special, or at all. In any event, we should have more details around Geneva, so stay tuned. Image Credit: Live photos copyright 2017 Drew Phillips / Autoblog.com Geneva Motor Show Infiniti Coupe Concept Cars Performance Videos Original Video 2017 Geneva Motor Show infiniti q60

Interest in an Infiniti EV is muted, to say the least

More than a quarter-million people have bought an electric vehicle from the Renault-Nissan Alliance. When it comes to Nissan's Infiniti luxury nameplate, though, there's not a lot of confidence. The Alliance doesn't have much hope that the badge will add to that total anytime soon. So says Emirates 24/7 in its report that Infiniti is planning on opening two showrooms in Abu Dhabi. Models such as the QX80 SUV, the Q70 sedan, and the Q50 will be shown off to those looking to live the high life, Infiniti style. But company executives told the publication that no battery-electric Infiniti models would be in the works until at least the end of the decade? The reason? Lack of demand. It's a far cry from three years ago, when a concept version of the Infiniti LE electric vehicle was shown off at the New York Auto Show. The model boasted 134 horsepower and 240 pound-feet of torque as well as wireless-charging capabilities. It was about the size of the Infiniti G sedan. At the time, the automaker's executives were estimating that car would hit the market by 2014. Those plans didn't come to fruition, obviously. As for the Alliance, Renault and Nissan celebrated the sale of their 250,000th electric vehicle this past summer. And while the lion's share of those were in the form of the Nissan Leaf, the 250,000th vehicle was actually a Renault Zoe that was bought by a computer engineer in Bordeaux, France. That's a long way from the UAE, and a long way from an Infiniti EV.