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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.

NFL player Alfred Morris receives his thoroughly restored 1991 Mazda 626

Washington Redskins starting running back Alfred Morris might not drive a flashy sports car or SUV, but after today, he'll be driving the nicest 1991 Mazda 626 on the planet.
Back in July, Morris temporarily traded in his 626 - cheekily named Bentley - for a 2014 Mazda6 loaner courtesy of Mazda, and today the sedan was presented back to him after the ultimate PR stunt: a reported 275-man-hour restoration that left this 22-year-old daily driver looking like it just rolled off the assembly line.
Not everything was brought back to original condition, though. The expired sticker from Morris' final year at Florida Atlantic University was left on the windshield, but to fit the car's nickname, a few high-end touches were added to the interior. This includes the quilted, cross-stitched leather seats (just like a real Bentley) and the touchscreen Pioneer audio system. There's also a plaque under the hood marking this car as the "Alfred Morris Project."

Mazda returns to rotary with RX-Vision Concept, crowd goes wild

Rotary! Forget everything for a second. Ignore the sleek styling, formed-by-wind sheetmetal, outrageously rear-drive proportions, and general ridiculousness of the sideview mirrors. And please be so kind as to ignore the poorly lit photos here – Mazda has a thing for drama. Concentrate instead on one fantastic phrase from the concept car press release: "next-generation Skyactiv-R rotary engine." The crowd here in Tokyo was downright frothing to get a look at the new concept car – hoping to catch a glimpse of the first evolutionary stage for a RX-9 sports car. The critical factor in that effort is of course the rotary engine. Mazda says that, while production of the powerplant is "on hold," the company has "never stopped research and development towards the rotary engine." The fact that the company has named the new engine gives us great hope that it exists in reality, and will be available for sale at some future date. The devil is in the details though, and there are precious few available at the Mazda stand. Other than a brief history lesson about Mazda's racing heritage, and fuzzy-vision talk about the future, we only have expectations to feed on. Oh, there's also a tiny press release, below. Related Video: HIROSHIMA, Japan—Mazda Motor Corporation unveiled the rotary-powered Mazda RX-VISION sports car concept at the Tokyo Motor Show*1 today. The rotary engine is a symbol of the company's "never-stop-challenging" spirit. RX-VISION represents a vision of the future that Mazda hopes to one day make into reality; a front-engine, rear-wheel drive sports car with exquisite, KODO design-based proportions only Mazda could envision, and powered by the next-generation SKYACTIV-R rotary engine. Rotary engines feature a unique construction, generating power through the rotational motion of a triangular rotor. Overcoming numerous technical difficulties, Mazda succeeded in commercializing the rotary engine, fitting it in the Cosmo Sport (known as Mazda 110S overseas) in 1967. As the only automaker to mass-produce the rotary engine, Mazda continued efforts to improve power output, fuel economy and durability, and in 1991 took overall victory at 24 Hours of Le Mans with a rotary engine-powered race car. Over the years, the rotary engine has come to symbolize Mazda's creativity and tireless endeavor in the face of difficult challenges. While mass production is currently on hold, Mazda has never stopped research and development efforts towards the rotary engine.