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Jonas wreaks havoc on auto industry

Many folks along the East Coast are still stuck at home from Winter Storm Jonas' brutal snowfall over the weekend, but the blizzard had some nasty temporary effects on the auto industry, too. Winter weather emergencies kept people from leaving the house, and that spelled trouble for factories and dealers. The terrible conditions in Washington, DC, even prevented the the Washington Auto Show from opening. General Motors, Toyota, and BMW had to close factories due to the weather. BMW cited concerns for its workers driving to the plant for canceling some Friday and Saturday shifts in Spartanburg, SC, according to Automotive News. Toyota closed its Georgetown, KY, factory on Friday, and GM shut down the second shift at its Bowling Green, KY, site for that day, too. Showrooms in the blizzard's path saw a massive drop in sales over the weekend because the customers weren't coming. Some affected dealers are now trying to make the best of a bad situation by offering potential buyers even deeper discounts to get them through the door, according to Automotive News. The piles of snow also mean hours of work for employees to clean off all the cars on the lot. The good news is that none of these issues should pose longterm problems. Weather reports don't show much snow for the East Coast in the coming days, which should allow the industry quickly to return to normal.

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.

Most reliable cars and trucks of 2022

Related: Least reliable cars and trucks of 2022   For years now, Consumer Reports has been one of the most prolific sources of vehicle reliability data around. The organization tests a number of vehicles each year and surveys its members on various automotive topics, including reliability. The results of its 2022 annual auto survey are in, and the list of most reliable vehicles has been revealed. Unsurprisingly, Toyota and Lexus dominated the list of most reliable vehicles, but BMW and Mini snuck into the top 10 as well. The list includes: Toyota Corolla Hybrid: 93 Lexus GX: 91 Mini Cooper: 89 Toyota Prius: 89 Mazda MX-5 Miata: 85 Lincoln Corsair: 82 Toyota Corolla: 81 Subaru Crosstrek: 80 BMW 3 Series: 80 Toyota Prius Prime: 77 In terms of the most reliable vehicle type, Consumer Reports says that sedans remain the best choice. Their average score is 58, which is notably better than SUVs’ average score of 51. Minivans and pickup trucks are lower, at 44 and 39, respectively. As Consumer Reports notes, many sedans are older models that have allowed their manufacturers to iron out the wrinkles, making them more reliable. Domestic automakers' SUVs and trucks performed better in the survey than their imported counterparts, with scores of 45 and 41, respectively. The study also showed that hybrids and plug-in hybrids are becoming more reliable, and have climbed the score ladder to the tops of their segments in many cases.  Consumer Reports says its study includes 17 trouble areas, including small stuff like creaks and rattles and much larger problems like drivetrain failures. The organization states that it weights each issue based on its severity to create its predicted reliability scores, with 100 being the best. A car must be in production for at least two model years to be considered for the list. Related video: Green BMW Lexus Lincoln Mazda MINI Subaru Toyota Car Buying Maintenance Ownership Convertible Coupe Crossover Hatchback SUV Hybrid Sedan Consumer Reports reliability