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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.

Stellantis suspends vehicle production in Russia

MILAN - Stellantis on Tuesday said it was suspending production at its Russian plant due to logistical difficulties and sanctions imposed on Moscow. The world's fourth-largest automaker, which produced and sold the Peugeot, Citro¸n, Opel, Jeep, and Fiat brands in Russia, has just 1% of the country's car market. It runs a van-making plant in Kaluga, around 125 miles (201 kilometres) southeast of Moscow, co-owned with Japanese carmaker Mitsubishi, which halted production at the facility earlier this month. "Given the rapid daily increase in cross sanctions and logistical difficulties, Stellantis has suspended its manufacturing operations in Kaluga to ensure full compliance with all cross sanctions and to protect its employees," Stellantis said in a statement. The plant employs 2,700 people. The company will continue to pay salaries through a local downtime scheme and by using anticipated vacation periods, Stellantis told Reuters. It said it did not know how long the stoppage would last, adding that its priority was its staff and the return of peace. Stellantis had already suspended all exports and imports of vehicles with Russia, following Moscow's invasion of Ukraine, moving production to western Europe. It had also said it was freezing plans for more investments in the country. Van production in Kaluga had remained just for the local market. Scores of foreign companies have announced temporary shutdowns of stores and factories in Russia or said they were leaving the country for good since Russia began what it calls "a special military operation" in Ukraine on Feb. 24. Stellantis Chief Executive Carlos Tavares in late March said the group would have to close the Kaluga plant shortly as it was running out of parts. Separately on Tuesday, General Motors Co said it was extending its suspension of business in Russia due to the conflict and international sanctions. The U.S. automaker, which initially suspended imports into Russia and commercial activity on Feb. 28, said it was laying off most of its 66 employees and providing them with separation packages. GM does not have plants in Russia and only sold about 3,000 vehicles annually there prior to the suspension. (Additional reporting by Ben Klayman in Washington; Editing by Mark Potter and Mark Porter) Government/Legal Plants/Manufacturing Fiat Jeep Citroen Opel Peugeot

Fires, deaths continue after Jeep fuel tank recall

As Kayla White slowed her SUV behind two other cars to exit a suburban Detroit freeway on Veterans Day, it was rammed from behind by a Cadillac STS. Her red 2003 Jeep Liberty bounced off a Nissan in front of it, rolled onto its side and exploded in flames. Other drivers ran to help but were forced back by the heat. Firefighters arrived in just three minutes but were too late. White, a 23-year-old restaurant hostess who was eight months pregnant, died of burns and smoke inhalation. White is one of more than 70 people killed in fires involving older Jeeps with plastic fuel tanks mounted behind the rear axle. Fiat Chrysler, which makes Jeeps, recalled 1.56 million of them in June 2013 under pressure from US safety regulators. But only 12 percent of the SUVs have been repaired in the 18 months since the recall, a much slower pace than usual. And White's Jeep was not among those fixed. Last week, prosecutors charged the Cadillac driver with committing a moving violation that caused a death. But safety advocates and the lawyer for White's family say the blame belongs as much, if not more, on Chrysler and an auto-industry safety system that moves too slowly to prevent tragedy. The rear-mounted tanks have little structure to protect them if struck from behind, making them susceptible to punctures and fires. Moving the gas tank in front of the axle would be expensive and difficult. So Chrysler's remedy involved installing trailer hitches on the rear of the Jeeps as an extra layer of protection. Government testing showed the hitches protected the tanks in crashes up to 40 mph when stationary Jeeps were hit from behind. But at higher speeds, they wouldn't help. White tried to get the repair done a few weeks before her death but was told by a Jeep dealer that parts weren't available, according to Gerald Thurswell, her family's lawyer. He wouldn't identify the dealership, and his contention could not be independently verified by The Associated Press. Thurswell contends the gas tank ruptured, spilling fuel that touched off the fire. A Chrysler spokesman expressed sympathy to White's family but said the company had no written proof that she asked a dealer about the recall. Two crash reconstruction experts interviewed by the AP say gas wouldn't have spilled from White's Jeep if the tank had been mounted in front of the rear axle. Both say a hitch might have prevented the tank from being damaged, but because both vehicles were in motion, neither expert could say for sure.