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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.

The Mazda MX-5 Miata RF's trick roof will cost you at least $2,555 extra

Now that loyal customers have been given the opportunity to preorder the Mazda MX-5 Miata RF Launch Edition, Mazda has finally announced pricing for the regular 2017 MX-5 RF lineup. The vehicle, with its gorgeous power retractable hardtop, will come in two trims – the MX-5 RF Club and Grand Touring when the vehicle goes on sale early next year. The MX-5 RF Club with the manual transmission is priced at $32,390, including $835 destination, which represents an additional $2,955 over a six-speed manual MX-5 Club with a soft top. An automatic is a $730 option for both RF and soft top Club models. The range-topping MX-5 RF Grand Touring trim will start at $33,455 with a six-speed manual transmission, which is $1,170 less than the Launch Edition's price tag of $34,685 and $2,555 more than a soft-top model. Opting for the automatic transmission on the Grand Touring trim bumps the price tag up to $34,660. The MX-5 RF models are similarly equipped to the soft-top models. The Club models benefit from cloth seats with red stitching, a limited-slip differential (when equipped with a manual transmission), suspension from Bilstein, and an optional Brembo brake and BBS wheel package for an extra $3,400. The more luxurious Grand Touring models get adaptive headlights, heated leather seats, and lane departure warning. The MX-5 RF models, just like the regular soft-top models, don't have many options. Hands-free keyless entry is a $130 option, while premium paint options, which includes Machine Gray Metallic (the same color on the Launch Edition) and Soul Red Metallic both cost $300. Crystal White Pearl Mica is only available on Grand Touring models and will cost an additional $200. Unlike the Launch Edition that was limited to only 1,000 units, there's no production limit on the regular MX-5 RF. Mazda will being delivering the MX-5 RF Launch Edition in February of 2017, with the standard MX-5 RF models following shortly after. Related Video: Featured Gallery 2017 Mazda MX-5 Miata RF View 15 Photos News Source: MazdaImage Credit: Mazda Mazda Convertible Lightweight Vehicles Performance pricing mazda mx-5 rf

Mazda Hazumi Concept shows up ahead of Geneva

Last week, Mazda officially teased its Geneva-bound Hazumi concept, showing little more than an aggressive headlamp design. But now, thanks to the magic of the Internet, another rendering of the Hazumi has appeared on the web, and, well, it's totes adorbs.
In Mazda's original release from last week, we were told that the name "Hazumi" means "spring up" or "bound" in Japanese, and is "particularly well-suited to a small car that appears to be bursting with energy." And now that we're getting a nearly full glimpse of the thing, we absolutely have to agree. The company's Kodo design language offers aggressive style in a cute little shape, and the usual raft of concept car-spec treatments (no mirrors, huge wheels, etc.) make it look even more comical and delightful.
Indeed, the Hazumi is understood to preview the next Mazda2 subcompact, and if this concept car points the way forward for Mazda's tiniest hatch, consider us totally geeked. Mazda is also set to debut its new 1.5-liter Skyactiv-D diesel engine at the Geneva Motor Show next week, and while the company hasn't confirmed if that powerplant will make its way into the next Mazda2, it sure makes sense, at least overseas. Stay tuned.