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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.

The refreshed 2018 Lexus NX looks just like a baby RX

The refreshed 2018 Lexus NX compact crossover debuted this week at the Shanghai Motor Show. Most of the changes are visual, and it should keep the NX fresh for the next few years until more extensive changes come. Power and performance remain the same, but Lexus claims its smallest SUV is quieter and more refined thanks to some updates under the skin. As the automaker's third best-selling vehicle in 2016, behind the venerable RX crossover and ES sedan, the NX has been a huge hit for Lexus in every market. Up front, the love it or hate it spindle grille remains, though it has received a few modifications. The upper portions of the grille and fenders have been reworked to flow better into the hood and doors. In addition to the sleeker visuals, it should help improve aerodynamics. New headlights with three projectors are similar to those on the new Lexus LC sport coupe. The bottom portion of the bumper has been pulled forward a bit, making the NX look both less pointy and more like a small RX than ever. In the rear, the bumper is redesigned, adding in design elements that draw influence from the spindle grille. Like the headlights, the taillights have been updated with a shape that's similar to those on the LC. Other changes include reshaped exhaust tips, new 18-inch wheels, and a kick sensor that opens the rear hatch if you make a motion under the rear bumper. Like the exterior, the changes to the interior are small but notable. The infotainment screen has grown from 7 inches to 10.3 inches. The controls for both the infotainment and HVAC system have been updated. Nearly all of the control knobs and switches have what Lexus is calling a metallic satin finish, essentially a silver-gray looking matte coloring. Like with many other Toyota and Lexus products, the automaker's Lexus Safety System + now comes standard on all models. This includes emergency braking, radar cruise control, lane departure warnings, and automatic high beams. The turbocharged 2.0-liter inline four carries over unchanged, though the model is now known as the NX 300 (formerly the NX 200t). Likewise, the hybrid system in the NX 300h is unchanged. There have been some updates to the suspension, adding in a modified version of the adaptive variable suspension system from the LC. Lexus claims this should improve both ride and handling. No word on pricing or a release date, so look for more news some time in the next few months.

Chevy Camaro ZL1, Lexus LFA celebrate National Donut Day

Happy National Donut Day, everyone! While some of us may have already celebrated this high-caloric holiday at our local Dunkin' Donuts or Tim Horton's, Chevrolet and Lexus have taken the opportunity to offer us delicious donuts of a different sort. Using a "professional donut maker" and a 2013 Camaro ZL1, Chevy has released a video of its 580-horsepower coupe laying down some serious rubber. Lexus has countered with its LFA supercar and, oddly, LPGA pro golfer Natalie Gulbis.
Just like many of the donut chains across the country, Chevy and Lexus are giving away these donuts for free. Not only do their donuts contain zero fat, they're also easily enjoyable over the Internet, albeit nowhere near as tasty as a Krispy Kreme. Scroll down to enjoy both videos.