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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.

Ford GT, Buick Avenir and Audi Q7 take 2015 EyesOn Design awards

The annual EyesOn Design Awards at the Detroit Auto Show allows some of the greatest designers in the world to weigh in on the best production and concept debuts at the big event each year. For 2015, the large panel of judges included luminaries like Frank Stephenson of McLaren, Ralph Gilles from FCA and Moray Callum of Ford. Apparently the editors at Autoblog had a good eye because the winner of 2015's Best Designed Production Vehicle award went to the Ford GT, which was also our favorite debut from the show. The new supercar beat the Acura NSX and Mercedes-Benz GLE-Class Coupe for the honor. The judges described the Blue Oval's shape as "capturing the original GT40 in a modern interpretation," according to EyesOn Design. The Buick Avenir was also a big winner in the awards this year and received the nods for both Best Designed Concept Vehicle and Innovative Use of Color, Graphics and Materials. In the concept category, it beat out the Chevrolet Bolt and Mercedes-Benz F 015, and in the latter group, the sedan triumphed over Audi Q7, Mercedes F 015 and Volkswagen Cross Coupe GTE. The Q7 received its own accolade for Best Designed Interior, and it beat the Avenir and Infiniti Q60 for the honor. This year's Lifetime Design Achievement Award went to former Renault designer Patrick le Quement, and Bob Lutz received the EyesOn Design Catalyst Award for the second time. The honor is for an executive "who has empowered great design," according to the organization, which describes Lutz perfectly. Scroll down to read the announcement with more comments about the winners. Related Video: Ford, Buick, Audi recipients of EyesOn Design Awards at North American International Auto Show EyesOn Design Awards for Design Excellence for 2015 were revealed today at the North American International Auto Show. The awards honor the most significant automotive designs revealed at NAIAS as determined by the North American and global leaders of design from automotive manufacturers, along with academic chairs of transportation design programs and design leaders from other fields.

GM will stop reporting monthly U.S. vehicle sales

DETROIT — General Motors said on Tuesday it will stop reporting monthly U.S. vehicle sales, saying the 30-day snapshot does not accurately reflect the market, and will instead issue quarterly sales. GM will also no longer report monthly sales in China, its largest market, and Brazil. GM will provide monthly data to the U.S. Federal Reserve, industry associations and government agencies across the globe, but that data is not made public. Analysts and investors rely on monthly U.S. vehicle sales not just to track the performance of individual automakers, but as a barometer of the health of the world's second-largest auto market and as an indicator of consumer confidence in the U.S. economy overall. GM and its Detroit rivals Ford and Fiat Chrysler have relied heavily on sales of high-margin pickup truck and SUV sales to boost profits. GM's total U.S. sales, its second-largest market, are down 3.2 percent for the first two months of 2018, reflecting a 6.8 percent drop in retail sales to individual customers, the company reported last month. GM executives have expressed frustration that comparisons of monthly U.S. sales results among rival automakers are distorted by short-term discount programs, and by differences in strategy for selling vehicles in bulk to rental car fleets. "Thirty days is not enough time to separate real sales trends from short-term fluctuations in a very dynamic, highly competitive market," Kurt McNeil, U.S. vice president for sales operations said in a statement. GM's actions could prompt other automakers to also switch to quarterly U.S. sales reports. Major automakers will report March U.S. new vehicle sales on Tuesday. Until the early 1990s, most U.S. automakers released sales results every 10 days. The former Chrysler Corp. stopped reporting sales on a 10-day basis in 1990, and rivals followed suit over the next three years. GM executives are betting that investors will quickly adapt to receiving U.S. sales data every three months, as investors in other retail sectors already have. Retailers such as Walmart report sales on a quarterly basis. Reporting by Joe WhiteRelated Video: Image Credit: Reuters Earnings/Financials Green Buick Cadillac Chevrolet GM GMC US