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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.

2024 GMC Sierra 1500 AT4X makes Duramax diesel standard

Changes are afoot for the 2024 GMC Sierra 1500 lineup. The one ringing the biggest bells for the off-roading crowd is the engine swap headed to the AT4X trim. Right now, if you want an AT4X you've got Hobson's choice of engines: The 6.2-liter EcoTec V8 with 420 horsepower and 460 pound-feet of torque. Next year, the 3.0-liter Duramax turbodiesel inline-six that's standard equipment on the AT4 and Denali Ultimate trims becomes the standard engine on the AT4X. The oil-burner makes 305 hp and 495 lb-ft., sent through the same ten-speed automatic the 6.2 V8 is yoked to. GM said around 20% of buyers have checked the Duramax box when buying a Sierra 1500 since the automaker released the upgraded engine for the 2023 model year — it's also offered on the SLE, Elevation, SLT, and Denali trims. The percentage should grow thanks to the diesel's low-speed grunt being one of the best "force multipliers" when traipsing over and through particularly challenging corners of the woods. The 6.2-liter will take the exhaust note crown over the diesel after the introduction of an active exhaust system with a Sport mode exclusively for the 6.2. Assuming no more changes to engine lineups before the 2024 Sierra arrives, the SLT, AT4, Denali, Denali Ultimate, and AT4X will have access to the active exhaust option.   GM Authority says the Duramax is getting another maximal friend in 2024, too. The 2.7-liter Turbo High-Output four-cylinder makes 310 hp and 430 lb-ft and is standard equipment on the entry-level Pro trim. the SLE, and Elevation trims will be renamed "TurboMax," which sounds like an Autobot, and that's not a bad thing. GM applied to trademark the name in January. The new moniker is headed to the Chevrolet Silverado as well, and we'd bet on exterior badging to let the world know.  Elsewhere around the Sierra, there will be two new exterior colors, Downpour Metallic and Thunderstorm Gray, mixable and matchable with two new aluminum wheel designs. And between those wheels, power retractable steps will be available for the Denali, Denali Ultimate, AT4 and AT4X trims. We'll be waiting to see how the steps differ from the GMC MultiPro Power Steps available now for $1,195.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Consumer Reports no longer recommends Honda Civic

Consumer Reports annual Car Reliability Survey is out, and yes, there are some big surprises. First and foremost? The venerable publication no longer recommends the Honda Civic. In fact, aside from the walking-dead CR-Z and limited-release Clarity fuel-cell car, the Civic is the only Honda to miss out on CR's prestigious nod. At the opposite end there's a surprise as well – Toyota and Lexus remain the most reliable brands on the market, but Buick cracked the top three. That's up from seventh last year, and the first time for an American brand to stand on the Consumer Reports podium. Mazda's entire lineup earned Recommended checks as well. Consumer Reports dinged the Civic for its "infuriating" touch-screen radio, lack of driver lumbar adjustability, the limited selection of cars on dealer lots fitted with Honda's popular Sensing system, and the company's decision to offer LaneWatch instead of a full-tilt blind-spot monitoring system. Its score? A lowly 58. The Civic isn't the only surprise drop from CR's Recommended ranks. The Audi A3, Ford F-150, Subaru WRX/STI, and Volkswagen Jetta, GTI, and Passat all lost the Consumer Reports' checkmark. On the flipside, a number of popular vehicles graduated to the Recommended ranks, including the BMW X5, Chevrolet Camaro, Corvette, and Cruze, Hyundai Santa Fe, Porsche Macan, and Tesla Model S. Perhaps the biggest surprise is the hilariously recall-prone Ford Escape getting a Recommended check – considering the popularity of Ford's small crossover, this is likely a coup for the brand, as it puts the Escape on a level playing field with the Recommended Toyota RAV4, Honda CR-V, and Nissan Rogue. While Ford is probably happy to see CR promote the Escape, the list wasn't as kind for every brand. For example, of the entire Fiat Chrysler Automobiles catalog, the ancient Chrysler 300 was the only car to score a check – there wasn't a single Dodge, Fiat, Jeep, Maserati, or Ram on the list. That hurts. FCA isn't alone at the low end, either. GMC, Jaguar Land Rover, Mini, and Mitsubishi don't have a vehicle on CR's list between them, while brands like Mercedes-Benz, Volvo, Nissan, Lincoln, Infiniti, and Cadillac only have a few models each. You can check out Consumer Reports entire reliability roundup, even without a subscription, here.