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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.

Mazda3 sedan revealed by Top Gear Russia [w/poll]

Thanks to our comrades at Top Gear Russia, the trickling reveal of the Mazda3 sedan has begun. We saw the hatch in person in New York (and loved it), and we wanted to see if the trunked version could hold onto the same mojo. If you like the Mazda6, then you should like the Mazda3 because it takes just about everything from its toothsome big brother and shrinks it into a compact package.
Top Gear Russia was allowed to share photographs of the Mazda sedan they call "Treshka" (or they leaked them, depending on whom you talk to), but not their drive impressions. The site page says it will come in four trims for the Russian market - Drive, Active, Active+ and Supreme - and offer three engines. Our specifications will certainly differ. Other than that, all we have to go on are the looks, which some may argue are even better than the hatch thanks to a trunk line that provides more balance to that long hood up front.
The Mazda3 will go on sale later this year and US prices should be announced in September. For the time being, content yourself with the gallery of high-res images above.

Mazda poaches designer Kevin Rice back from BMW

Kevin Rice left Mazda a baker's dozen years ago, but now he's back.
A graduate of the Transportation Design program at Coventry University (just across town from Jaguar headquarters), Rice worked his way up in the industry working for the likes of Opel and Italdesign Giugiaro before landing a job at Mazda. Between 1995 and 2000, he collaborated on such projects as the RX-8 and the 1999 Neospace concept that previewed the Mazda2 before moving on to BMW, where the new 3 Series and 4 Series were among the last projects he worked on during his 13-year tenure in Munich.
Now back at Mazda, Rice has been named the Japanese automaker's new creative director, charged with further honing the brand's KODO design language from its European headquarters in Oberursel, Germany. We're looking forward to seeing what he and his design team come up with in the coming years.