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The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

Autoblog Podcast #398

Episode #398 of the Autoblog Podcast is here, and this week, Dan Roth, Brandon Turkus, and Michael Harley talk about the 2015 Ford Mustang, the 2015 Toyota Camry, and the Congressional grilling NHTSA received last week. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #398: Topics: 2015 Ford Mustang 2015 Toyota Camry NHTSA under Congressional fire In The Autoblog Garage: 2014 Lexus ES 300h 2014 Lexus GS 350 F-Sport 2015 Kia K900 Hosts: Dan Roth, Michael Harley, Brandon Turkus Runtime: 01:36:56 Rundown: Intro and Garage - 00:00 2015 Ford Mustang - 28:58 2015 Toyota Camry - 42:41 NHTSA - 57:55 Q&A - 01:17:15 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Government/Legal Podcasts Ford Kia Lexus Toyota

Volkswagen's latest ad is not subtle | Autoblog Podcast #509

On this week's podcast, Mike Austin and David Gluckman are joined by special guest James Riswick, who has been driving a lot of new cars lately. All of them are discussed, plus a few more from Mike and David, and Mike rants a bit about a new VW Atlas commercial. The episode wraps up with the traditional doling out of Spend My Money buying advice, during which David briefly goes out into left field. (He's back now, don't worry.) The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want buying advice of your very own, send a message or a voice memo to podcast at autoblog dot com. (If you record audio of a question with your phone and get it to us, you could hear your very own voice on the podcast. Neat, right?) And if you have other questions or comments, please send those too. Autoblog Podcast #509 Topics and stories we mention GMC Sierra HD Mazda MX-5 Miata RF Mazda CX-5 Honda CR-V vs. Mazda CX-5 Mini Countryman Honda Clarity Fuel Cell Ford F-150 Raptor Lexus RC 200t VW Atlas "Luv Bug" commercial Used cars! Rundown Intro - 00:00 What we're driving - 02:43 Ad of the week - 41:40 Spend My Money - 49:14 Total Duration: 56:27 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show on iTunes Marketing/Advertising Podcasts Ford GMC Honda Lexus Mazda MINI Volkswagen mazda cx-5 ford f-150 raptor gmc sierra hd volkswagen atlas mazda mx-5 rf lexus rc 200t