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Mixed sales results, but automaker stocks rise on need for cars in Houston

DETROIT — The Big Three Detroit automakers on Friday reported better-than-expected August sales and issued optimistic outlooks for demand as residents of the Houston area replace flood-damaged cars and trucks after Hurricane Harvey, sending their stocks higher. General Motors, Ford and Fiat Chrysler posted mixed August U.S. sales, with GM up 7.5 percent and Ford and Fiat Chrysler down. Japanese automaker Toyota improved sales by nearly 7 percent, while Honda fell 2.4 percent. Still, analysts focused on the potential for Detroit automakers to cut inventories and stabilize used vehicle prices as residents of Houston, the fourth largest city in the United States, are forced to replace tens of thousands, perhaps hundreds of thousands, of vehicles after the devastation from Hurricane Harvey. Mark LaNeve, Ford's U.S. sales chief, told analysts on Friday that following Hurricane Katrina in 2005 "we saw a very dramatic snapback" in demand. That said, Ford sales fell 2.1 percent in August. It sold 209,897 vehicles in the United States, compared with 214,482 a year earlier. Sales were down 1.9 percent in the Ford division and off 5.8 percent at Lincoln. Demand was down for cars, crossovers and SUVs. It was not clear how many vehicles in the Houston area will be scrapped, LaNeve said, saying he had seen estimates ranging from 200,000 to 400,000 to 1 million. Ford's Houston dealers may have lost fewer than 5,000 vehicles in inventory, he said. Ford is the No. 1 automaker in the Houston market, with 18 percent share, according to IHS Markit. The company plans to ship used vehicles to Houston dealers and has "every indication we would have to add some production" of new vehicles to meet demand, LaNeve said. Investor concerns about inventories of unsold vehicles and falling used car prices have weighed on Detroit automakers' shares most of this year. Now, automakers can anticipate a jolt of demand from a big market that is a stronghold for Detroit brand trucks and SUVs. "It's got to be a positive for the industry," LaNeve said. Investors appeared to agree. GM shares rose as much as 3.3 percent to their highest since early March. Ford increased 2.8 percent at $11.34, and Fiat Chrysler's U.S.-traded shares were up 5.2 percent $15.91, hitting their highest in more than five years. GM reported a 7.5 percent increase in U.S. auto sales in August, helped by robust sales of crossovers across its four brands.

Buy an Audi, get some free shoes

Audi is preparing to launch its annual Summer of Audi sales event, and while it might be a good time to get your hands on one of the brand's luxury vehicles, it's also a good chance to get your feet in a pair of exclusive Toms shoes. The shoemaker, which is famous for donating a pair of shoes to a person in need as part of its One For One program, plans to donate some 55,000 shoes as part of the Audi program. Here's how it works: anyone that leases or purchases an Audi – new or certified pre-owned – between June 3 and Aug. 4 gets a pair of the limited-edition shoes. Toms then turns around and donates shoes for children in need. "Through Toms One for One giving program Audi will help change the lives of thousands of children in the United States and empower new customers to be a part of this movement," Audi of America marketing director Loren Angelo said. "With Toms, we found a natural partnership. Audi aligns with likeminded companies that challenge the conventions of design and share a passion for progressive ideas." Expect to hear more about this program in the coming days as part of a television campaign featuring both the shoes and the RS7. Until then, check out the limited-edition kicks up top. Audi and TOMS® collaborate for limited-edition shoe designed exclusively for Audi buyers June 03, 2015 | HERNDON, Virginia TOMS One for One® giving program will provide 55,000 shoes to children in need this summer Customers who purchase or lease a vehicle during the Summer of Audi Sales Event will receive a pair of exclusively-designed TOMS iconic Alpargata shoes New Summer of Audi television commercial set to debut nationally Through an exclusive collaboration, Audi and TOMS have designed a limited-edition Alpargata shoe that will be available to Audi buyers during the Summer of Audi Sales Event (http://www.audiusa.com/myaudi/toms-partnership). From June 3 through August 4, customers* who purchase or lease a new or Certified pre-owned Audi vehicle will receive an offer for a pair of exclusively-designed TOMS featuring the four rings. In turn, through TOMS innovative giving program, 55,000 shoes will be donated to children in need. "Through TOMS One for One giving program Audi will help change the lives of thousands of children in the United States and empower new customers to be a part of this movement," said Loren Angelo, Director of Marketing, Audi of America. "With TOMS, we found a natural partnership.

These are the top luxury cars bought by people entering the segment for the first time

Let's say you just got a big promotion at work or the kids are moving out of the house, and you finally have some extra money. You decide to blow it all at once and treat yourself by upgrading your ride. Naturally, you look to a luxury automaker. What do you choose?
Models like the Audi A3 and Mercedes-Benz CLA-Class may be tailor-made to introduce buyers to the premium segment, but a new study finds that they don't garner the highest rates of non-luxury customer conquests. It turns out that a Volvo leads among folks moving up to a premium brand, and it isn't even one that's made anymore, at that.
A recent study by Polk and IHS Automotive looked at what models had the highest rates of buyers upgrading from a non-luxury segment. The information comes from its new vehicle registration data through April 2014. All ten top models boasted conquest rates of over 50 percent, but the Volvo C70 led the field with 68.01 percent of its customers coming from non-premium brands.