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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.

Acura built just 91 examples of the ILX last month, here's why

The short life of the Acura ILX has been vexed by one glaringly odd standard equipment choice, mediocre reviews, getting outsold by its competition as it posted slower-than-projected sales and a pledge by Honda to upgrade its supposedly upgraded offering. Therefore, when Automotive News reports that just 91 of the Civic-based Acura sedans were manufactured last month - after a string of production months in double-digits - it would be easy to press the button for the alarm bells.
But that would be hasty, because it is actually the 2013 Honda Civic that is crimping the production pipeline of the ILX. The vastly higher sales numbers of the Honda meant that all three North American plants that produce it needed to crank up output to satisfy dealer inventory needs, including the Greenburg, Indiana plant that makes both the Civic and the ILX. As the classic guns-vs-butter Economy 101 lesson taught us - in which making more of one necessarily means making less of the other - well, the Civic is the gun.
Honda prepared for this eventuality by cranking out the Acuras while it got ready for Civic production. The ILX has held steady at about 500 units shy of company projections every month, and the current inventory represents about 90 days worth of sales. That makes Greenburg's ostensibly low numbers in line with the realities of the ILX, and the situation probably won't change much as Acura gets ready for the improved 2014 ILX.

Honda's hot new Civic Type R finally hatches in production form [w/video] [UPDATE]

UPDATE: A previous version of this article incorrectly indicated that the vehicle in question is the most powerful hot hatch ever made. As some commenters pointed out, the Ford Focus RS500 was more powerful by some 40 horsepower. We've updated the text below accordingly. Takanobu Ito may be stepping down as president and CEO of Honda, but as far as performance machinery is concerned, he'll be leaving the company in good shape. Not only has he ushered Honda back into Formula One – reviving the legendary partnership with McLaren – but he's also brought back two performance icons: the NSX and the Civic Type R. The former is making its European debut here at the Geneva Motor Show after its premier in Detroit, but alongside it we're seeing for the first time the production version of the latter. Not that it's exactly our first look at the new hot hatch. We've seen it testing, seen a couple of concept versions and even drove an early prototype. But after that whole lengthy process, it's finally here. (Or there, we should say, because it won't be coming to America. At least not in its current form.) What we're looking at, according to the manufacturer, is not only the fastest and most powerful front-drive hot hatch it's ever made, but on the market altogether. It packs a 2.0-liter VTEC turbo four kicking out 306 horsepower and 295 pound-feet of torque – the most powerful production engine the company has ever offered – said to be enough to propel the new Civic Type R to 62 in 5.7 seconds and on to a top speed of 167 miles per hour. That's a whole lot of muscle to channel to the front wheels, but Honda's surely done its best to keep it all under control. It's got an old-school six-speed manual transmission, electric power steering, 19-inch wheels, Brembo brakes, adaptive dampers and a suspension designed to combat torque steer and tuned to enhance high-speed stability and support hard cornering. In addition to extensive testing at locations including the Nurburgring, Suzuka and the company's own Takasu test track, the new Civic Type R has also undergone considerable CFD and wind tunnel testing to tune the aerodynamics. The resulting appendages may be toned down slightly from the concepts, but still make quite a visual impact – to say nothing of generating much-needed downforce to keep this sucker glued to the road or track.