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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.

2015 Lexus RC F Review

Every year, thousands of people buy two-door coupes that bear the badges of BMW M, Mercedes-AMG, Audi RS, and Cadillac V. These cars are powerful, fast, agile, and - if you believe the marketing - are made to kick ass on the track. But, and this is just my theory, only about 0.2 percent of these owners actually drive their cars the way the companies intended. Most buyers, I think, want the image put forth by an M4 or C63 AMG more than any dynamic abilities. These people just want to give the impression that they're out tearing up the local road course, and a $70,000 sports coupe and a pair of Pilotis are just the ticket. Which is not to say they don't use the performance of these cars, just not the full track-day capabilities. If this describes you, I recommend checking out the new Lexus RC F. This coupe is powered by a 5.0-liter V8, complete with 467 horsepower and 389 pound-feet of torque. These figures, while impressive in a vacuum, are troubling when viewed alongside the competition. The Mercedes-AMG C63 tops 500 in horsepower and torque in S guise, while the six-pot Cadillac ATS-V is nearly equal on power but offers almost 60 more pound-feet of torque. And while the BMW M4 cedes more than 40 horsepower to the Lexus, the RC F doesn't feel as potent from the driver's seat. The RC F doesn't even feel as potent as less-powerful competition. This numerical deficit translates to the stopwatch, where the RC F lags behind the force-induced competition. The C63 and ATS-V both hit 60 in 3.9 seconds, while the BMW takes 4.1 seconds (these are all manufacturer estimates, by the way). The RC F needs 4.4 seconds to hit 60 miles per hour. The only vehicle in this segment that's slower is the Audi RS 5, and that's been on sale longer than all its current competitors combined. And the Audi's charms (oh, that glorious engine note) help you overlook its lack of pace. The RC F doesn't have the aging Audi's charisma, making its lack of both perceived and actual pace more glaring. I'm placing blame on this car's overbearing induction sound. It was a neat trick on the original IS F – this car's predecessor – but over the years it's just become kind of played out. At the least the noise is real, piped into the cabin via a resonator, but it sounds too artificial. And the point at which it kicks in is entirely predictable. Neither of these traits contribute to an involving driving experience.

Lexus LC 500 coming to Detroit Auto Show

Believe it or not, it's been nearly four years since we first saw the Lexus LF-LC Concept. Its swoopy style and spindle grille kicked off a big design revolution for Lexus, and we saw a number of LF-LC design elements work their way onto production cars. But now, rumor has it a full-on production version will see the light of day, and soon. Motoring.com.au says the LC 500 coupe will show its face at the 2016 Detroit Auto Show in January, and we have little reason to doubt this. In fact, it's kind of been a long time coming. The LC was reportedly approved for production in 2013, and though we were told it might resurrect the SC name, Lexus filed copyright applications for "LC 500" and "LC 500h." Oh, and a prototype of this car was recently spotted testing. The LC 500 will arrive with – no surprise here – Lexus' naturally aspirated 5.0-liter V8, plucked from the RC F and GS F. That said, Motoring says it could arrive with a new, 10-speed automatic transmission from Aisin. As for the LC 500h, Motoring thinks it'll be powered by a, 3.5-liter V6-based hybrid drive system that could produce something like 470 horsepower – not the current V6/hybrid unit from the GS 450h. A hotter LC F should follow in a couple of years, and earlier reports suggest it could make something like 600 horsepower. Of course, Lexus refuses to comment on future product speculation, so we don't have any official proof that this is actually happening. But it all makes a lot of sense. Watch this space in two months' time for more details.