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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 following Tesla with 280-mile EV family car

The press days are finished at the LA Auto Show, but things said there are still making news. While in California, Audi technical development chief Ulrich Hackenberg told reporters that his employer plans to release an electric car with a range of 280 miles "around 2017." Hackenberg wouldn't say what kind of car - or crossover, perhaps - it will be, but one report said it would be "a large car, fitting five large people with ample luggage space." Most observers expect it to be a sedan to take on the Tesla Model S. It's no secret that Audi respects Tesla, and there have been hints that The House of Quattro is ready to really flex its progress-through-technology muscles in Tesla's direction. Audi will be applying lessons learned in the development of the coming R8 E-tron to the future electric car, after it managed to double the range of the electric sports car thanks to new battery technology to 450 kilometers, or 281 miles. This puts another tentative all-electric Audi in the mix and another Tesla competitor, after rumors of a possible electric Q8 from February of this year. If an electric Q8 does happen, it's expected to be a challenger to the Tesla Model X. And that might not be all: Bloomberg reported in June that Audi had "devised blueprints for several high-performance electric saloons and sport-utility vehicles." News Source: AutoExpress Audi Technology Electric audi e-tron

Audi TT Quattro Sport Concept takes the next-gen to the extreme

There's little doubt that the new Audi TTS and its 310-horsepower, 2.0-liter, turbocharged four-cylinder will be very quick when released to the general public. As a means of reminding us that Audi can do much more with the little TT, though, the German manufacturer has presented this, the TT Quattro Sport Concept, alongside its litter of new sports cars.
Complete with a 420-horsepower, 2.0-liter, turbocharged engine - yes, it really puts out 210 horsepower per liter - the TT Quattro Sport can snap to 62 miles per hour in just 3.7 seconds. 331 pound-feet of torque is also on offer, meaning this one-off TT outguns the TTS by 110 horsepower and 51 pound-feet of torque.
An S-Tronic transmission shuffles the power about, while the car itself rides on a lowered and stiffened suspension. 20-inch alloys are featured with centrally locking, racing-style hubs. Those racy wheels are housed in wells that have had their arches stretched an additional 1.18 inches, which, along with the lowered suspension, contribute to the TT's aggressive looks.