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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.

GM releases full Super Bowl ad with GMC Hummer, Cadillac Lyriq: Take that, Norway!

GM just dropped its big Super Bowl ad, and it’s a good one. Will Ferrell, Kenan Thompson and Awkwafina all star in the 90-second ad titled “No Way, Norway.” The point of the ad is to get Americans hyped up about the upcoming electric vehicle range on its way from GM. Both the Cadillac Lyriq and GMC Hummer EV star throughout, but itÂ’s less about the vehicles, and more about changing attitudes about EVs in general. Ferrell comes after Norway aggressively, but in a playful and competitive way about how many electric cars sell in the Scandinavian country. Over half of all new car sales in Norway are of EVs, whereas GMÂ’s data show that just 4% of new cars sold in the U.S. are electric. Massive financial incentives from the Norwegian government can take much of the credit for why EVs sell at such high rates over there. However, GM thinks it can still rally the U.S. to get more excited about buying EVs once its fleet of cars using the companyÂ’s Ultium battery tech comes online. The ad is done with classic Ferrell comedy, and it sure did elicit some chuckles from us. It also follows the same “Everybody In” philosophy that GM announced back when it changed up the logo a short time ago. GM is inviting folks to strap in for the onslaught of EVs coming their way (for now, you can buy a Bolt). President BidenÂ’s administration has voiced support for a number of policies and actions to take for greater adoption of electric cars in the U.S. — we also know the federal government intends to transition its full fleet of vehicles to EVs. It's still unlikely that we make it to Norway's rate of electric car sales in the immediate future, but the U.S. could certainly begin to close the gap. Related video:

Is this the 2014-15 Cadillac Escalade?

Following the introduction of the redesigned Chevrolet Silverado and GMC Sierra, we're expecting General Motors won't wait too much longer to show off the next-generation fullsize SUVs that share this platform - including the Cadillac Escalade. It's still not clear if the next Escalade will debut for the 2014 or 2015 model years, but Carscoops has what it claims to an exclusive first look of the new Cadillac, revealing a portion of the headlight, front fascia and wheel.
Judging from this small picture, it looks like the Escalade could incorporate styling cues that we've seen on new Cadillac models like the ELR and the 2014 CTS, but that article says that other design details could include tall, vertical taillights similar to the CTS Wagon, staggered-width wheels and a narrower daylight opening for the side windows. The last time we saw the fourth-generation 'Slade back in October in spy shots, the heavy camouflage prevented us from getting an idea of the luxury SUV's appearance, but this image and description gives us something to look forward to. Head on over to Carscoops for more potential information as well as a full rendering from back in January.