ICYMI: Ford’s U.S. sales fell 10.2% in July as the automaker adjusts its retail strategy heading into the second half of the year. GM extended its joint venture with SAIC Motor by 20 years, expanding China-built vehicle exports as global competition intensifies. U.S. auto sales slipped 1.4% in July, with hybrids gaining ground while EV demand continued to cool. Global EV sales hit record highs even as U.S. demand stalled at just 5.8% of the market. Nissan posted its first quarterly profit in two years, despite lowering its sales outlook for the year ahead. Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news. Ford reports 10.2% July sales decline as retail strategy shifts Ford sold 169,951 vehicles in the U.S. in July, which is down 10.2% from a year prior. The Detroit automaker stated that this decrease is a result of intentional business decisions rather than a drop in retail demand. Ford reduced sales of low-margin daily rental fleet vehicles and discontinued the Ford Escape and Lincoln Corsair in preparation for upcoming product launches. Read More GM extends SAIC partnership 20 years, expands China-built exports amid global competition General Motors (GM) and SAIC Motor have extended their joint venture for another 20 years. This renewal agreement follows GM’s restructuring of its operations in China, which includes plant closures and reductions in its vehicle lineup. Read More July U.S. auto sales slip 1.4% as hybrids gain momentum and EV demand continues to cool U.S. light-vehicle sales reached a seasonally adjusted annual rate (SAAR) of 16.3 million units in July, down 1.4% from a year earlier, according to the latest NADA Market Beat report. Year-to-date SAAR through July stands at 16.0 million units, a 2.2% decline compared with the same