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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.

Buick Cascada dies the death everyone expected

Four months ago, the Grim Reaper came for the Opel Cascada. Groupe PSA, which bought Opel from General Motors in 2017, announced the two-door convertible would be phased out. On sale here since 2016 as the Buick Cascada, GM told us it had nothing to say about PSA's announcement. On Friday, the U.S. automaker spoke up, telling Automotive News the droptop "has reached the end of its originally-planned lifecycle and 2019 will be the last model year offered. Dealers have been notified and many will have stock through the rest of this year." Buick paid big money to advertise its first convertible since the 1991 Reatta. Buick threw money at Super Bowls ads and a gaggle of celebrities two years in a row. And when sales began in 2016, Buick enlisted The Unbreakable Kimmy Schmidt star Ellie Kemper for a series of television and online spots. U.S. dealers have been instructed to file final orders this month, and production will continue at the factory in Poland until this summer. Yet the fact we're in February and dealers are predicted to have stock for the next ten months says everything necessary about the state of play. The brand sold roughly 17,000 units in three years, and both 2017 and 2018 saw sales declines of more than 25 percent. Buick didn't expect huge sales from the import, though, and the Cascada earned conquest buyers. A spokesman said, "The Cascada has played its role in the portfolio perfectly, outselling many other premium convertibles while bringing in [6 of every 10] buyers from outside GM." Last we heard, the LaCrosse ceases production next month. Unless the situation changes before the end of the year, Buick will have only the Regal on its passenger car books come 2020. GM will only have two convertibles in its portfolio worldwide, the Chevrolet Camaro and Corvette. Related Video:

Buick confirms US-market Envision CUV to be built in China

As expected, the Buick Envision will come to the US market in 2016, and as rumored, it'll be GM's first product imported from the People's Republic. Buick confirmed the news today, while also releasing a number of technical details on the mid-size CUV, which has sold nearly 130,000 units in the Chinese domestic market in the first 11 months of 2015. When it arrives in US dealers next summer, the Envision will feature a 2.0-liter, turbocharged four-cylinder EcoTec four-cylinder. Good for an estimated 252 horsepower and 260 pound-feet of torque, the four-pot turbo is paired to a well-received six-speed Hydra-Matic 6T70 transmission. That's the same automatic gearbox that's offered in the turbocharged Regal and Regal GS and the current six-cylinder LaCrosse. The entire affair is underpinned by torque-steer-fighting HiPer strut front suspension, a crossover first for Buick, with a four-link setup in back. According to Buick, the Envision will also get the same Active Twin Clutch all-wheel-drive system being offered on the Cadillac XT5 and the new LaCrosse. Like the Chinese-market Envision, Buick is offering the USDM model with active grille shutters, LED running lights, LED taillights, heated front/rear seats, a heated steering wheel, 19-inch wheels, and a Bose stereo as standard. Buick also lists highlights like Active Noise Cancellation and an eight-inch IntelliLink infotainment system, although it's not clear whether these are standard features. There's no word on which auto show the Envision will debut at. Considering the timing, next month's Detroit Auto Show is a strong contender, although if Buick wanted to really drum up headlines ahead of its on-sale date next summer, it'd formally introduce its newest CUV in April, at the New York Auto Show. Either way, expect to see more of this handsome, Chinese-built CUV soon. Related Video: Buick Envision North American Market Fact Sheet 2015-12-04 The Buick Envision was designed, engineered and tested in Michigan as a world-class luxury crossover to challenge the world's best competition. It was awarded Motor Trend SUV of the Year in China and has 127,085 sales so far this year. When it goes on sale in 2016, it will play an important role in a crossover lineup that currently represents 60 percent of Buick sales in North America. It targets customers shopping between the Encore, the best-selling Buick in eight years, and the Enclave, which has continued to grow its customer base since its 2007 introduction.