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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.

2015 Ford F-150 spied in the rain

Standing as quite a contrast from the spy shots of the 2015 Ford Mustang we saw earlier today, our spies also sent along these pictures of the next-generation F-150 pickup out testing in its (heavily camouflaged) full prototype body. Much of the new truck's design is hidden under the bulky coveralls, but we expect a lot of its new lines to be inspired by the Atlas concept that debuted at the 2013 Detroit Auto Show.
Perhaps the biggest unknown surrounding the new F-150 is what, exactly, its body will be made of. Earlier reports have suggested that lightweight aluminum materials may be used throughout, offering a serious reduction in weight versus previous models. But Ford engineers will need to be careful, though, as they need to keep a tight rein on costs while preserving class-competitive (if not class-leading) towing and payload capacity.
On the powertrain front, the new F-150 will undoubtedly carry on with EcoBoost engines, and we'd bet on a normally aspirated V8 as well. A diesel option hasn't been confirmed, but we wouldn't be surprised to see one some time in the truck's lifecycle. Mum's the word on when the production F-150 will be revealed, but our best guess is that we'll see it at the 2014 Detroit Auto Show.

Top Gear's latest trailer shows off a golden Bugatti Chiron

Top Gear is returning on March 5, and after a lackluster first series with the new hosts, the new group seems determined not to hit a sophomore slump. Chris Evans is gone, and the latest teaser trailer shows the new trio of Matt LeBlanc, Chris Harris, and Rory Reid strapped into some pretty fantastic cars, including the Bugatti Chiron and the Ford GT. All of the typical Top Gear segments appear to be present, though the quick cuts don't give us many details. The trailer shows a copious amount of powerslides from an assortment of cars, and even Chris Harris racing around Daytona. Aside from the Bugatti and Ford, cars from Porsche, Lamborghini, Ferrari, BMW, Aston Martin, and Alfa Romeo are all present. Co-hosts Eddie Jordan and Sabine Schmitz don't appear at all, so it seems their roles may be downplayed to focus on three guys, as was the case pre-reboot. We have some hope for this re-relaunched show and will be keeping an eye out for more details in the lead-up to the series premiere. Related Video: News Source: YouTube Celebrities TV/Movies Alfa Romeo BMW Bugatti Ferrari Ford Lamborghini Porsche Top Gear chris harris Bugatti Chiron matt leblanc