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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 names former BMW man Kruger to fill de Nysschen role

Today is turning into a big one for senior leadership changes in the automotive industry. Hot on the heels of Ferrari announcing the replacement of its chairman, Infiniti has announced the appointment of its new chief executive in Roland Krüger.
Serving until now as a senior vice president at BMW, Krüger joins Infiniti as its president as well as senior VP at parent company Nissan, reporting directly to Carlos Ghosn. Krüger had been with BMW since 1998, primarily as a regional director, having previously started his career as a designer for Mitsubishi and the Smart division at Daimler.
Krüger's appointment comes just over a week after the announcement that Infiniti's chairman Andy Palmer would be leaving for Aston Martin, and two months after the departure of outgoing Infiniti president Johan de Nysschen for Cadillac. The Japanese luxury automaker, headquartered in Hong Kong, has been in the meantime essentially operating by committee in the absence of a chief executive. The nomination of Krüger will surely bring a large measure of stability and direction as the company seeks to take a larger slice of the pie, in particular from German automakers like the one for which Krüger worked until now.

2016 Infiniti QX60 gets a facelift, Hybrid still alive

The future of the Infiniti QX60 Hybrid looked grim a few months ago, when Nissan confirmed the Pathfinder Hybrid was being discontinued. After all, the QX60 and Pathfinder are nearly identical underneath their different bodies. But with this 2016 model year refresh, Infiniti confirms that its QX60 Hybrid will indeed carry on for the new year. It's the same hybrid system as before, combining a supercharged, 2.5-liter inline-four with an electric motor for a combined 250 horsepower and 243 pound-feet of torque. New liquid-filled active engine mounts are added for 2016 in an effort to reduce overall harshness. Non-hybrid models carry on with the naturally aspirated 3.5-liter V6, good for 265 hp and 248 lb-ft. Front-wheel drive is standard with both engines, and all-wheel drive is optional. That's the biggest news for the updated QX60. Everything else baked in to the refresh is pretty standard. Up front, there's a new fascia that better aligns the seven-passenger crossover with every other Infiniti product, and the taillights are slightly more stylized than before. It looks nice, but there's still no hiding those Nissan Pathfinder bones. Infiniti says new shock absorbers and springs will help improve ride quality, and steering effort is improved with a retuned, speed-sensitive electronic power assist system. Standard, Sport, Eco, and Snow modes will help you manage the power depending on the weather and your driving style. We don't know how much this will actually improve the QX60's ride, but we never really had any problems with the luxury crossover's relaxed dynamics, anyway. Look for the QX60 to officially debut at the 2016 Detroit Auto Show, following a reveal at a media event this week. For the full details on all the super-nitty-gritty changes, check out the press blast below. Infiniti QX60 Premium Crossover Offers Enhanced Design, Dynamics, Comfort and Convenience for 2016 - Refreshed exterior design adds to premium look and feel - Chassis dynamics retuned for a more engaging, comfortable drive - Interior revisions bring enhanced luxury for up to seven occupants - Augmented suite of assistive and intuitive technologies NASHVILLE (Dec. 15, 2016) – Infiniti has comprehensively enhanced its versatile QX60 premium crossover for 2016, introducing a wide range of changes that improve the seven-seater's exterior design and its driving dynamics, while showcasing new features and technologies that improve comfort, convenience and safety.