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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.

Cadillac issues stop sale on ATS to recall 82k units

Cadillac is issuing a recall on 82,620 examples of the 2013-2016 ATS worldwide to fix a compliance issue with the sunroof controls. Until a service bulletin goes out to take care of things, there's also a stop sale on the luxury compact in the United States, The Detroit News reports. Of the affected models, 63,665 are in the US, according to a statement sent to Autoblog, and 7,922 of them are in Canada. The problem is actually the same issue as a recall on nearly 59,000 examples of the 2013-2015 ATS in the US in February. In them, the controls for the tilt and slide of the roof aren't recessed enough to meet government standards for the force necessary to operate the buttons. The Feds believe that someone could accidentally activate the auto-close and potentially be at risk. At the time, Cadillac dealers installed a new trim plate to add the needed clearance. In the latest update, the company is adding the 2016 model year, and according to The Detroit News, 70 percent of the cars from the original campaign also need another new trim plate. Unsurprisingly for such a minor defect, there are no known crashes, injuries, fatalities, or customer complaints related to this issue, according to the announcement by General Motors. Cadillac ATS Statement: General Motors is recalling 63,665 Cadillac ATS sedans in the United States from the 2013-2016 model years because the power-operated roof panel systems on these vehicles will auto-close when the non-recessed portion of the "Slide" or "Tilt" switches are pressed and the roof panel is open. Because these switches are not fully recessed, they can be actuated with less force than required to comply with applicable federal standards. GM knows of no crashes, injuries or fatalities related to this issue and has received no customer complaints. The total population of the recall including Canada, Mexico and exports is 82,620. Transport Canada Recall # 2015322 Recall Date 2015/07/21 Notification Type Compliance Mfr System Electrical Manufacturer Recall Number 15568 Units Affected The number of vehicles or components affected by the recall. 7,922 Category Car Recall Details Certain vehicles equipped with power-operated sunroof system may fail to conform to Canada Motor Vehicle Safety Standard (CMVSS) 118 - Power-Operated Window, Partition and Roof Panel Systems.

Recharge Wrap-up: Cadillac CT6 Plug-In on sale in China, Oregon utilities spur EV adoption

The Cadillac CT6 Plug-In is now available in China. The luxury plug-in hybrid sedan uses a turbocharged 2.0-liter engine plus two electric motors, which give the car a 0-62 mph time of 5.4 seconds. Its liquid-cooled 18.4-kWh lithium-ion battery pack gives the car an all-electric range of 50 miles, with a total range of 581 miles. Cadillac offers a 200V charger with the CT6 Plug-In, which provides a full charge in less than five hours. Owners can check charging status remotely using OnStar or the MyCadillac app. The CT6 Plug-In is offered in two variants, priced at about $80,400 and $94,800. Read more from GM. Two Oregon utilities are launching a program to increase EV adoption. Portland General Electric (PGE) will build six charging locations, each with up to four dual-standard fast chargers. PGE will also build and operate charging sites for electric buses, freeing up money for Portland's TriMet transit agency to spend on the actual buses. Pacific Power will also build public EV chargers, and lower some electricity rates for operators. Both companies will also work to inform the public about the benefits of electric mobility. Oregon utilities are required to stop using coal by 2030, and use 50 percent renewable energy by 2040, which will make EVs even cleaner. Read more at Green Car Reports. Continental says a shift to EVs will cost its company jobs. The automotive parts supplier's CEO, Elmar Degenhart, says that while the company will need to cut production jobs, those will be offset at least in part by the creation of new positions related to electric mobility. "There is enough time to design the process such that the blow is softened and major pain can be avoided," says Degenhart. Some 30,000 jobs at Continental are tied to combustion engines. Read more at Automotive News Europe. Featured Gallery 2017 Cadillac CT6 Plug-in Hybrid View 15 Photos News Source: GM, Green Car Reports, Automotive News EuropeImage Credit: Cadillac Green Hirings/Firings/Layoffs Cadillac GM Green Culture Electric Luxury recharge wrapup