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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.

Mazda2 successor to ride atop shortened CX-5 platform

Mazda, looking to make the most of its new, lightweight Skyactiv vehicle architecture, will allegedly use a version of the CX-5 crossover's platform to underpin its next-generation Mazda2 hatchback, according to a report from Just-Auto.com. Of course, the Mazda2 is a much smaller vehicle than its larger CUV stablemate, so some serious chopping will no doubt be in order when it comes time to engineer the replacement for the company's smallest hatch.
Currently, the CX-5 and the sleek new Mazda6 share many of the same platform components, and this architecture will already be scaled down to support the next-generation Mazda3 sedan and hatchback, which will debut later this year. Just-Auto.com states that all of Mazda's remaining front-wheel-drive vehicles will eventually switch to reworked versions of this Skyactiv platform, including the replacement for the larger CX-9 crossover.
Also of note, Mazda will reportedly be switching to shorter, four-year lifecycles for its vehicles. This means that the newly launched Mazda6 will be replaced for the 2016 calendar year, with a refresh coming sometime in 2014. That said, vehicles with platforms supplied by other automakers (like the upcoming MX-5 Miata replacement that will share its underpinnings with an Alfa Romeo product) will not necessarily follow this four-year rule.

2014 Mazda6 earns Popular Mechanics' 'Car of the Year'

Ring one up for Mazda. The Japanese brand's midsize offering, the Mazda6, has been named Popular Mechanics' Car of the Year. The 6 received a comprehensive reworking for the 2014 model year that saw it adopt sleek, sexy sheet metal; a clean, logical interior; and powertrain technologies that allow it to net some of the best fuel economy available in a gas-powered, non-hybrid sedan.
Popular Mechanics praised the 6's Skyactiv 2.5-liter, 184-horsepower engine, as well as its agility and responsiveness during testing. It also remarked on the functional, but well designed cabin, and the degree of available technology.
"The Mazda6 really impressed us with how well it delivers so many things modern car owners want: great mileage, fun road-handling, upscale features and looks - and remarkable value," said Jim Meigs, Editor-in-Chief of Popular Mechanics.