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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.

Audi A7 Sportback H-Tron Quattro packs plug-in hydrogen powertrain

If you think a plug-in diesel hybrid is an expensive proposition, just wait until you hear details about the just-revealed Audi A7 Sportback H-Tron Quattro. The "H" in H-Tron, as you might guess, stands for hydrogen, so say hello to a new concept that combines a plug-in battery system with a hydrogen fuel cell. Yeah, exactly. Let's start with the numbers. On the plug-in side, the new H-Tron has an 8.8-kWh lithium-ion battery that can power the car for up to 31 miles on battery power. With electric motors on both axles – it's a Quattro, after all, but a through-the-road hybrid with electronic torque distribution management – the A7 H-Tron uses a hydrogen fuel cell and four (!) H2 tanks to offer about 62 miles per gallon equivalent. Audi says the overall fuel cell stack efficiency is "as high as 60 percent" while the electric motors operate at 95 percent efficiency. Efficiently turning all of that electricity into movement means the A7 Sportback H-Tron Quattro has a total power output of 398.3 pound-feet of torque. The 4,299-pound concept can allegedly go from 0-62 miles per hour in 7.9 seconds and has a top speed of 112 mph. The car's total range is 311 miles. The A7 H-Tron is not the first plug-in hydrogen vehicle concept. That title goes to the Ford HySeries Edge. Mazda also considered putting a hydrogen range extender in the Mazda5 plug-in van. The Audi A7 Sportback h-tron quattro It sprints from 0 to 100 km/h (62.1 mi) in 7.9 seconds and on to a top speed of 180 km/h (111.8 mph). It covers over 500 kilometers (310.7 mi) on one tank of fuel – and its exhaust emits nothing more than a few drops of water: The A7 Sportback h-tron quattro, which Audi is unveiling at the Los Angeles Auto Show 2014, uses a powerful, sporty electric drive with a fuel cell as its energy source that operates in combination with a hybrid battery and an additional electric motor in the rear. The overall electrical system power of 170 kW is transferred to both the front and the rear wheels. This drive configuration makes the emission-free Audi A7 Sportback* a quattro through and through – a new departure in fuel cell cars. "The A7 Sportback h-tron quattro is a genuine Audi – at once sporty and efficient. Conceived as an e-quattro, its two electric motors drive all four wheels," explained Prof. Dr. Ulrich Hackenberg, Member of the Board of Management for Technical Development at Audi. "The h-tron concept car shows that we have mastered fuel cell technology.

Audi reportedly shoots down $9.2 billion investor bid for Lamborghini

Volkswagen is open to divesting some of the brands in its portfolio, but it hasn't put a "for sale" sign on in front of Lamborghini's lawn yet. The firm allegedly shot down a big offer for the brand from a group of investors. Quantum Group SA, a newly-established holding company based in Zurich, Switzerland, made the non-binding offer in May 2021, according to anonymous sources who spoke to WardsAuto. The publication adds the group is ready to spend 7.5 billion euros (around $9.2 billion at the current conversion rate) to buy the entire Lamborghini division from Audi. The sale would include the brand, its intellectual property (like its trademarks and patents), its historic factory in Sant'Agata Bolognese, and its racing division. Full details about the proposed acquisition were closely examined by top Volkswagen executives, including company CEO Herbert Diess and Audi boss Markus Duesmann. While the offer sounds like it's neatly packaged, Volkswagen replied that it's not having a garage sale. "Lamborghini is not for sale. This is not the subject of any discussion within the group," a company spokesperson told industry trade journal Automotive News. These comments are in line with the ones made in December 2020. Quantum's aim wasn't to sever all ties with Volkswagen. It planned to turn Lamborghini into "a spearhead for innovation by consistently implementing new clean drivetrain technologies" across the range, a strategy that's already in the pipeline; Lamborghini announced it will electrify in the 2020s and launch its first series-produced EV. Investors also hoped to sign a five-year supply agreement with Audi, and to create what they called an Advanced Automotive Innovation Center headquartered somewhere in Lower Saxony, the German state Wolfsburg is in. In late 2020, when rumors about an imminent Lamborghini spin-off were rampant, Volkswagen stressed it had no plans to sell the Italian supercar manufacturer or to find a new home for Ducati, which Lamborghini owns. Unverified reports claim a chunk of the company could be listed on the stock market in a bid to raise revenue, however. Bugatti is another part of the Volkswagen empire that Diess and his team allegedly wanted to trade in to fund the group's pivot towards electric powertrains. In September 2020, reports claimed top executives had approved swapping the storied French carmaker and its assets for a significant stake in Croatia-based Rimac that would be transferred directly to Porsche.