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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.

Jeep Grand Cherokee Trackhawk undisguised with Hellcat power

Superchargers make everything better. Mount one to the top of a 6.2L Hemi V8 and pack it under the hood of a Jeep Grand Cherokee and you have a recipe for a completely bonkers, wholly unnecessary, and totally sweet SUV. We've known for a while that the so-called Trackhawk, essentially a Hellcat Jeep, is on its way. We now have photos of a completely undisguised test vehicle on public Michigan roads trying to make its way to SRT headquarters. Jeep already makes an SRT version of the Grand Cherokee. That version only puts out a measly 475 hp and 470 pound-feet of torque from a 6.4L Hemi. After developing a couple of 707-hp Dodges, SRT felt that Jeep needed some of that Hellcat love too. In the photos, we can see that, aside from the front fascia, the Trackhawk will look fairly similar to the standard SRT Grand Cherokee. The front retains the requisite Jeep grille, though it's been narrowed a bit to make room for larger air intakes below. The Hellcat engine creates a lot of heat, so designers needed to make sure the beast has plenty of room to breathe. New LED fog lights have been integrated into lower air ducts. We still don't know many of the Trackhawk's finer details, like the exact price or release date. We do know that Jeep claims a 3.5-second 0-60 time, making it both the quickest-accelerating Hellcat-powered vehicle and one of the quickest-accelerating vehicles in the world. For comparison, BMW claims the X5 M will do 0-60 in 4 seconds flat. Related Video: Featured Gallery Grand Cherokee Trackhawk View 9 Photos Spy Photos Jeep SUV

Jeep first American carmaker to return to Tokyo show

Despite foreign-brand car sales in Japan declining six percent in the first four months of this year, Jeep sales are up 21 percent in the same period. That could explain why Jeep will be the first the US manufacturer to return to the Tokyo Motor Show after eight years away. Ford, General Motors, and Chrysler walked away during the global crisis that struck after the 2007 show. Jeep will be part of an eight-vehicle, four-brand showcase overseen by Fiat Chrysler Automobiles Japan, the local subsidiary. For the moment, it is the only US brand to sign up - neither Ford, GM, or even Chrysler are committed to attend. Stablemates Fiat, Alfa Romeo, and Abarth will be there, along with 13 other foreign makes, answering the "Technology & Fantasy" theme for this year's event. In total, organizers announced 15 brands from 14 Japanese manufacturers, and 27 brands from 17 foreign carmakers. The show opens to the public from Oct. 30 to Nov. 8. Related Video: