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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 RS3 spy shots foreshadow an ultra-hot hatch

Not all vehicle prototypes and mules require heavy camouflage - sometimes they can be hidden in plain sight. That's probably what Audi was hoping for while testing its new RS3 wearing S3 duds, but thanks to some visual and audible telltales, our spy photographers were able to recognize this as a precursor to the marque's ultra-hot hatch testing near the Nürburgring.
Our photographer noticed the signature exhaust note of a five-cylinder engine, which suggests the RS3 could borrow its motivation from the excellent TT RS. Producing at least 340 horsepower, this 2.5-liter turbo powerplant could be the perfect answer for the new A45 AMG from Mercedes-Benz. The big brakes on this RS3 mule give us our best idea about the car's high-performance intentions, with Audi RS wave brake rotors and six-piston calipers peering out from behind the oversized wheels.
In production form, the RS3 should have a much different appearance from what you see here, with sportier design cues including oval-shaped dual exhaust outlets and a more aggressive front fascia. While we're still waiting for our first taste of the S3 in the North America, we'll be holding our breath for the RS3 to make its way here, as well.

Audi R8 E-Tron back on production map thanks to new battery tech?

Contrary to our October 2012 report, it appears Audi's R8 E-Tron program is back on track, if a report from Australia is to be believed. Drive is reporting that the German brand has changed its mind and won't be sacking the program, despite previously stated concerns about the quality and price of batteries for the R8-based EV.
We last saw the R8 E-Tron prototype in the snows of northern Europe, although footage of the car has been non-existent since that wintry test. This new report claims that a small number of R8 E-Trons will see production, which gels with what we heard back in 2012 and supposed earlier this year. Apparently, some new sort of lithium-ion battery technology has allowed for a drastic increase in range, with rumors of the original 130 miles going up to around 250. According to Drive, this makes the project feasible again.
"Our engineers and technicians are further developing the car and its electric drive system. The range has grown significantly, allowing the potential for a small-scale production," an unnamed, but high-ranking Audi employee told the Aussies.