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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 Fit Kit is the perfect DIY car from Honda

Ah... let the April Fools' Day automotive jokes begin. Honda is kicking things off, following up on last year's Honda Hair joke with a prank video featuring the 2015 Honda Fit.
It's called the Fit Kit, and as you might guess, it's a way to build your own version of the redesigned hatchback. There are 180,000 mechanical parts in the kit - some delivered by drone - but that doesn't seem at all daunting to the pair of obnoxious, self-described tinkerers that star in the Fit Kit ad.
Honestly, the video is pretty entertaining, with some biting satire of the DIY movement and its attendant cadre of mustachioed hipsters. Scroll down and have a look at both the video and the Fit Kit press release from Honda.

Honda Civic Type R clocks 7:50.63 front-drive 'Ring record

Lapping the Nurburgring in under seven minutes may be the ultimate bragging right for supercars, but further back down the field, a battle is being waged between front-drive hot hatches to see which can scope a lap time under eight. Seat was first to claim the crown with the Leon Cupra at 7:58, which was subsequently beaten by the Renaultsport Megane 275 Trophy-R at 7:54. All the while Honda pledged to take the record with the new Civic Type R. And that's just what it's done. As you can see from the video above, Honda's new hot hatch clocked a time of 7:50.63, making it the fastest front-driver ever to lap the Nordschleife and blindingly fast by any account. Honda suggests that the lap was clocked while testing the stock street-legal rubber (and not on slicks) and claims that the roll cage clearly seen in the video was fitted "for safety reasons and not to add rigidity," with extraneous equipment like the front passenger seat and audio system were removed to compensate for the cage's weight. Of course with no official sanctioning body verifying these times and the equipment in which they're achieved, they're a subject of much debate, but there's no getting around the fact that the new Civic Type R is one very serious piece of machinery indeed. NEW HONDA CIVIC TYPE R THROWS DOWN NURBURGRING GAUNTLET - Honda announces Nurburgring lap time for Civic Type R development car - 7 minutes 50.63 seconds lap time is unmatched in the front-wheel drive hot hatch class - Lap time achieved in development car with technical specifications representative of the final production car At the world premiere of its all-new Civic Type R at the 2015 Geneva Motor Show (5 - 15 March; Stand 4250, Hall 4), Honda announced that a development car had achieved a 7 minutes 50.63 seconds lap time of the legendary 20.8 km/12.9 mile Nurburgring Nordschleife in Germany. This time is unmatched by any other front-wheel drive performance hatchback. The lap time was achieved during the final phase of pre-production testing in May 2014 by a Civic Type R development car. The development car was in a standard state of engine tune, with suspension, drivetrain, exhaust, brakes and the aerodynamic package identical to those of the production Civic Type R. The removal of equipment such as air conditioning, the front passenger seat and audio equipment offset the additional weight of a full roll cage (installed specifically for safety reasons and not to add rigidity).