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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.

Consumer Reports says Toyota, Ford, Honda and Chevy are big winners in brand perception survey

According to Consumer Reports, the automotive brands that stand out in the minds of car buyers are, in order: Toyota, Ford, Honda and Chevrolet. This news comes after the magazine polled its readers, asking them to take into account vehicle quality, safety, performance, value, fuel economy, design/style, and technology/innovation - which are the factors that car shoppers are most influenced by.
It's important to note that this award is only about perception. In other words, it's perceived quality, not actual quality. "Often, perception can be a trailing indicator, reflecting years of good or bad performance in a category, and it can also be influenced by headlines in the media," said Jeff Bartlett, Consumer Reports deputy automotive editor.
The brand that made the biggest jump in perception amongst Consumer Reports readers is Tesla, which posted an impressive 47-point gain to finish in fifth place. Subaru is also notable for finishing in the top 10, despite being one of the smaller manufacturers doing business in the US. Scroll down below for all the details from Consumer Reports, if you're so inclined.

2013 Shelby GT350

Shelby is a name as synonymous with the Ford Mustang as marshmallows are with campfires. But unlike the short-lived sugary confection that is prepared on a stick, the late Carroll Shelby's name on the placard means added performance and exclusivity. Launched in 1965, the automaker's celebrated early cars were in production for a limited run - today, a mint concours-quality 1965 Shelby GT350 can sell for upwards of $350,000.
To coincide with the 45th anniversary of the original Shelby GT350, Shelby American reintroduced the GT350 in 2011. Like the original, it was only offered in white with blue stripes. Customers were offered a choice between naturally aspirated (440 horsepower) and two levels of supercharging (525 horsepower with a warranty or 624 horsepower without). The manufacturer calls the GT350 a "post-title" package, a term that means it starts out life as a stock Mustang and is modified outside Ford's factory (this is in contrast to the Shelby GT500, which is a standard Ford production car).
As the GT350 enters its third year, Shelby has made several changes. Mechanically, Wilwood brakes replace Baer units and Recaro seats and a tinted glass roof are on the options list. Cosmetically, the vehicle is now offered in most of the Blue Oval's factory colors, new multispoke wheels are available in Satin Black or Bright Silver Metallic finish, and customers can choose between Satin Black, Silver or Gloss White stripes (or Azure Blue Metallic on Performance White or Ingot Silver). Aesthetically, the look of the car has also changed somewhat - keen eyes will note that it actually appears more 'stock' than it did last year.