1967 Ford F-100 on 2040-cars

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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.

Introducing the 1965 Ford Mustang

Put on your space suits and diving bell helmets, for it's time to step into a time capsule. The 50th anniversary of a historic model, like, say, the Porsche 911 this year, is certain to bring flights of nostalgia. This historical trip with the 1965 Mustang, though - preliminary hype for next year's anniversary, we know - is a swell museum exhibit for anyone who enjoys bygone days of the automobile.
Lee Iaccoca gave a speech to motoring journalists on April 1, 1964 at the New York World's Fair to introduce a sporty car for younger drivers. His opening line: "Good morning, ladies and gentlemen. Welcome to one of the proudest moments of our lives." The company was so excited by what it had made that the Mustang was Ford's first "International Press Introduction," being introduced to some 2,000 journos around the world on the same day in the US and 11 European cities. Even through its difficult points, no one at the time could have known how well the Mustang would acquit that pride.
After the intro, the press drove Mustangs 750 miles from New York to Dearborn, MI, reading press kits that touted features like the "vertical, three-sectional taillights/turn signals," "170" six-cylinder engine with 101 horsepower and the available Cruise-O-Matic transmission.

Cosworth double-feature is XCar's a drool-worthy look back

While American fans of Ford performance cars in the '80s and early '90s were loving the 5.0 Mustang, Taurus SHO and, for those who wanted to be a little different, the Merkur XR4Ti, British fans of the Blue Oval were getting their own unique take on speed. The Sierra RS Cosworth (which was similar but not identical to the aforementioned Merkur) and later Escort RS Cosworth were the stuff of dreams with huge wings, hood vents and big power for their time and class. XCar Films aims to find out whether it is little more than nostalgia that makes these classics famous or it really is their legitimate performance. Thanks to its Formula One and racing success, Cosworth was already a well-established performance name in the UK by the time it began selling tuned engines to Ford for the Sierra and Escort. The Sierra RS Cosworth hit the scene in 1986 with a turbocharged, 2.0-liter four-cylinder engine with 204 horsepower and rear-wheel drive. Its huge wing at the back signaled it immediately as something special, and it proved to be a performance powerhouse on and off the track. When it was retired, Ford replaced it with the Escort RS Cosworth that used an upgraded version of the same engine with 217 hp, all-wheel drive and an even bigger rear wing to net yet more racing victories. XCar really gets into the spirit of the time, opening the video with the lo-fi grain of '80s and '90s TV, but to find out whether the Cossies stand up to modern scrutiny, you have to watch the video below. Stay tuned until the end to enjoy them at their best with some vintage motorsports footage. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.