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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.

1984 Audi Sport Quattro expected to hammer at nearly half a million dollars

The highest prices paid at automobile auctions continue to be claimed by European sports cars, with names like Ferrari and Bugatti forever topping the lists. But what we have here is not quite a sports car. It's more of a hot hatch, but its still expected to fetch between $350,000 and $475,000 when it goes up for auction next month in Arizona. That's because this is no ordinary hot hatch... it's the prototypical hot hatch: the legendary Audi Sport Quattro, one of the most maniacal and dominant homologated rally machines ever devised. Shorter in wheelbase and dartier of handling than the Ur-Quattro that came before it, the later Sport Quattro was built to comply to with the FIA's legendary Group B regulations. That meant that it competed with the likes of the Lancia 037, Ford RS200 and Ferrari 288 GTO – beating them all in the World Rally Championship one after another – but also had to be built in limited quantities and sold to the public. And so Audi and its nascent Quattro GmbH skunkworks division built 214 road-going examples of the Sport Quattro, and this could very well be the most immaculate example in existence. It was previously owned by noted collector Yoshikuni Okamoto of Kobe, Japan, and with barely more than 5,000 miles on the odometer, recently underwent an exhaustive service at Audi of Fairfield, CT – one of the company's largest dealerships – and though the Sport Quattro was never offered for sale in the US, this one is now fully registered for use on American roads and comes in impeccable condition despite its 30 years of age. The gavel drops during the RM Auctions event at the Arizona Biltmore on January 15-16, 2015. Even the low end of the pre-auction estimate is nearly double the $184,860 which Sports Car Market reports Bonhams sold an '85 Audi Sport Quattro in September 2013. Featured Gallery 1984 Audi Sport Quattro: RM Arizona 2015 View 21 Photos News Source: RM AuctionsImage Credit: Erik Fuller/RM Audi Auctions Hatchback Performance rm audi sport quattro

Audi introduces Q7 E-Tron 2.0 TFSI in Shanghai

Audi made a name for itself with its Quattro all-wheel-drive system, and is rapidly expanding its range of E-Tron hybrids. And now it's bringing the two together for the first time with the new Q7 E-Tron 2.0 TFSI. The company's first vehicle to combine a turbocharged engine, hybrid assist and all-wheel drive, the Audi Q7 E-Tron 2.0 TFSI boasts all the enhancements wrought on Ingolstadt's new flagship crossover, but with a range of over 633 miles – nearly 33 of them on electric power alone. The powertrain pairs a 2.0-liter turbo four with an electric motor that combine to deliver 367 horsepower and 516 pound-feet of torque. That's said to be enough to send the hybrid luxury crossover to 62 in 5.9 seconds and on to a top speed in excess of 136 miles per hour, while boasting fuel efficiency of a claimed 94 miles per gallon. Unfortunately, however, the Q7 E-Tron is earmarked only for specific Asian markets – namely China, Singapore and Japan. So don't count on seeing this hybrid crossover in US showrooms any time soon – at least not in this specification. Ingolstadt, 2015-04-16 Great class, minimal emissions – the new Audi Q7 e-tron 2.0 TFSI quattro - First TFSI plug-in hybrid with quattro all-wheel drive - Best-in-class: up to 53 kilometers (32.9 mi) electric range - Maximum efficiency with hybrid management and heat pump - Available for Asian markets The Audi Q7 e-tron 2.0 TFSI quattro marks the first time that Audi has combined a TFSI plug-in hybrid with quattro all-wheel drive. Audi developed it specially for Asian markets (China, Singapore and Japan). It is sporty, comfortable and at the same time supremely efficient. It accelerates from 0 to 100 km/h (62.1 mph) in under six seconds while consuming just 2.5 liters of fuel per 100 kilometers (94.1 US mpg) according to the measurement method specified in China for plug-in hybrid vehicles (PHEV). Audi is presenting the Q7 e-tron 2.0 TFSI quattro at Auto Shanghai. According to the measurement method specified in China for PHEVs, the large SUV can cover up to 53 kilometers (32.9 mi) solely on the electricity stored in its lithium-ion battery – quietly, powerfully and with zero local emissions. Total range is 1,020 kilometers (633.8 mi). The Audi Q7 e-tron 2.0 TFSI quattro will be available beginning in 2016. Sporty power and minimum consumption The Audi Q7 e-tron 2.0 TFSI quattro has sporty power.