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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.

2014 Honda Civic Hybrid now available nationwide, CNG model in 37 states [UPDATE]

As promised, the 2014 Honda Civic is about to get a little green update. A hybrid gas-electric version will join the standard 2014 Civic in Honda showrooms nationwide tomorrow and a natural gas-powered model will join the party on February 15th, but only in 37 states. Both new models will get the updates that Honda applied to the other 2014 Civic models, including a seven-inch touchscreen display audio and expanded view driver's mirror, which are both now standard. Read our review of the 2013 Civic Hybrid here but note that enough has changed with the new model to go from an EPA rating of 44 miles per gallon across the board to 44/47/45 city/highway/combined. The CNG model is rated at 31 mpg in all three categories. The 2014 Civic Hybrid will start at $24,635, while the compressed natural gas (CNG) Civic aims a bit higher, starting at $26,640. More details on these new vehicles is available below. If you're happy with earlier versions of the CNG Civic, then you'll be happy to know that 2012 MY vehicles at participating Honda dealers still comes with a $3,000 fuel credit that can be used at Clean Energy stations, the largest brand of public compressed natural gas (CNG) stations in the US. If you don't have a Clean Energy station in your area, the Civic CNG comes with a $2,000 prepaid debit card to be used at other refueling stations. We've asked Honda for information on which 13 states will not offer the CNG model and will update this post when we get that information. UPDATE: The 37 states are now available below. These are the 37 states where the Civic CNG is available: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Louisiana, Massachusetts, Maryland, Michigan, Minnesota, Missouri, Mississippi, North Carolina, New England, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Utah, Virginia, Washington and Wisconsin. That leaves the following 13 states without the Civic CNG: Hawaii, Idaho, Iowa, Kansas, Kentucky, Maine, Montana, Nebraska, North Dakota, South Carolina, South Dakota, Vermont, West Virginia, Wyoming. Honda Launches 2014 Civic Hybrid and Civic Natural Gas, Enhancing a Diverse Lineup of Fuel Efficient and Alternative Fuel Models Text Only 2014_Honda_Civic_Hybrid-CNG_Rls_FINAL.docx Add to Basket Printer Friendly 02/04/2014 - TORRANCE, Calif.

Half of Chinese car buyers won't shop Japanese over hard feelings

The hard feelings between China and Japan is no real secret. Besides modern-day disputes, the two countries have had a long-running enmity that dates back to well before the atrocities of World War II. All things considered, then, it shouldn't be a shock that half of Chinese car buyers wouldn't consider a Japanese car. This survey, conducted by Bernstein Research, found that 51 percent of 40,000 Chinese consumers wouldn't even consider a Japanese car – which, again, isn't really surprising, when you consider stories like this. According to Bernstein, the most troubling thing is the location of these sentiments – smaller, growing cities where the population is going to need sets of wheels. We imagine it wouldn't be as big of an issue in traffic-clogged Shanghai or Beijing, but these small cities are going to become a major focus for automakers. "Nationalistic feelings are an impediment. [Japanese] premium brands will struggle," analyst Max Warburton wrote in a research note, according to The Wall Street Journal. Things will improve for Japanese makes, although China will remain a challenge, with Warburton writing, "the one thing that comes out most clearly is that most Chinese really want a German car. While we expect Japanese brands to continue to recover market share this year, ultimately the market will belong to the Germans." There are a few other insights from the study. According to WSJ, Japanese brands are viewed better than Korean brands, and they're seen as more comfortable than the offerings from Germany or the US, despite the fact that everyone in China apparently wants a German car. This is a tough position for the Japanese makes to be in, as there's really not a lot they can do to win favor with Chinese buyers. It will be interesting to see how this plays out, particularly as the importance of the PRC continues to increase year after year. News Source: The Wall Street Journal - sub. req.Image Credit: Kazuhiro Nogi / AFP / Getty Images Honda Mazda Nissan Toyota Car Buying