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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.

This is Nissan's 2014 Detroit Auto Show concept

During a media event in Los Angeles today, Nissan flashed a few images of a new concept car that will be unveiled at the 2014 Detroit Auto Show in January. According to Shiro Nakamura, senior vice president and chief creative officer of design and brand management at Nissan, this unnamed concept has a "very strong design signature" and shows "[Nissan's] future design direction."
It's certainly quite sleek, this concept, yet specific elements like the front fascia and taillamps are evolutionary steps from what we're seeing on some of Nissan's newest products. Those rear lamps look like sleeker versions of what the Sentra wears, and that grille appears to be a more stylized version of what the next-generation Rogue has been seen sporting.
As for what, exactly, this concept previews, that's still up in the air, though our best guess is that it hints at a Maxima successor. After all, Nissan did confirm to us that a new Maxima is currently in development, and showing this concept in early 2014 lines up with our predictions that the next-generation sedan should arrive in time for the 2015 model year.

Why China will soon lead the electric vehicle market

China could be the world's largest electric vehicle market by 2020, thanks to significant government subsidies and the major drawbacks of owning an internal combustion model there. The country's populace registered 75,000 EVs in 2014, and sales figures in 2015 looked even better. In a new video, Renault-Nissan examines the trend and why it happened. Chinese cities heavily encourage buyers to go green through vehicle incentives, but they also make it a hassle to be a polluter. In some places, there's a lottery to limit vehicle registrations and alternating driving bans for even or odd license plate numbers. However, these limits don't apply to EVs, and the country's automakers have benefited from the regulations by introducing small, inexpensive electric models, albeit with sometimes hilarious styling. China's emissions regulations will get even tighter in the coming years. In fact, a Honda exec recently predicted the company wouldn't be able to sell any models there without some form of electric assistance by 2025. Get a better look at the country's electric push to clean up vehicle pollution in Renault-Nissan's video. Related Video: