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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.

Mazda MX-5 GT gets green light

The Mazda MX-5 Miata is as popular around the Autoblog offices as Kate Upton posters are around fraternity houses. Few staffers have much criticism for Mazda's ubiquitous roadster, and fewer still aren't overjoyed when one arrives in their driveway. So you can imagine how a report from Auto Express about a more potent MX-5 model is going over in our offices today.
The new model, which was shown in concept form as the Mazda MX-5 GT at the Goodwood Festival of Speed, has a slight catch, though. First, we have absolutely no idea if Mazda will bring the MX-5 GT to the US. Secondly, and perhaps more problematically, this isn't a production car - it's a kit from the team at Jota Sport.
Now, to be fair, the kit doesn't sound like a bad thing. It bumps the UK-spec 2.0-liter, 157-horsepower engine up to 203 hp thanks to a sports exhaust and a revamped ECU (46 horsepower from an ECU and exhaust in a naturally aspirated car?). To make the little Miata even more agile, Jota has also fiddled with the suspension. AE doesn't mention things like the grippy tires or Recaro seats that were found on the concept, though.

Mazda will decide who gets the MX-5 RF Launch Edition, like it's Ferrari or something

When Mazda introduced the 2017 MX-5 Miata RF at the 2016 New York International Auto Show, the vehicle came as a surprise. Everyone was expecting a new Miata variant, but no one thought it would be a retractable fastback, especially one that looks this good. Mazda listened to all of the positive feedback and decided to offer the same vehicle from the auto show as a limited-edition model. But you can't just go down to the dealer and place an order, at least for now. It's called the MX-5 Miata RF Launch Edition, only 1,000 of them will be made, and they'll go only to Mazda's "valued customers." Instead of opening up orders to anyone, Mazda took a page out of Ferrari's book and is extending invitations to customers through email. The chosen few will have a specific amount of time to preorder the limited-edition model before the automaker gives everyone the opportunity to buy one, assuming there are any left. You might remember that Mazda did a similar thing with the first ND Miata roadsters – the 2016 MX-5 Launch Edition went to the first 1,000 customers that placed orders on www.longlivetheroadster.com. The Launch Edition is painted Machine Gray with a black roof panel and has Auburn Nappa leather on the inside – the same combination as the debut car. Future MX-5 RF models will be available with the same paint and leather, but will miss out on the black roof and special badges. Launch Edition buyers will also get a numbered Tourneau watch with the vehicle, and will only have just one choice to make – manual or automatic transmission. (We know which we'd choose.) Pricing for the RF Launch Edition has not been released, but we expect the regular RF to come in a little higher than the roadster's $25,750 base price. The MX-5 RF will go on sale early next year. Related Video: Featured Gallery 2017 Mazda MX-5 RF: New York 2016 View 13 Photos News Source: MazdaImage Credit: Live photos copyright 2016 Drew Phillips / AOL Mazda Convertible Performance mazda mx-5 rf