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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.

Nissan recalling 841k vehicles overseas for steering wheel trouble

A possible issue with a steering wheel bolt in the Nissan Micra (shown) and Cube from the 2002 to 2006 model years has Nissan recalling roughly 841,000 units on four continents, as well as Oceania and the Middle East. On the affected cars, the bolt may not have been tightened properly, which could lead to a loss of steering in a worst-case scenario. According to Reuters, there haven't been any reports of accidents or injuries due to the fault, however.
The Micras affected were built in the UK and Japan, the Cubes in Japan. Nissan has yet to say when the recall will begin, but when it does, owners can take their cars to dealers for repairs; the bolt with either be tightened or, if necessary, a new steering wheel installed.

Skyline-powered Nissan Patrol shows Juke-R how it's done

If you had told us a few years ago that people would be shoehorning GT-R engines into Nissan SUVs, we'd have told you you were nuts. But that was before the Juke-R came along. And before the Qashqai-R project followed a similar formula. Well, now there's a third example.
We don't know who made it or who it belongs to, but some our-kind-of-nuts character has shoehorned the 2.5-liter turbocharged inline-six from a Skyline GT-R into a fourth-gen Nissan Patrol sport-ute. And from the sound of it, we gather the engine has also been heavily tuned beyond its 215-horsepower stock specification.
What's even better is that this Patrol-R isn't alone. Check out the second video below and you'll see a whole club of Patrol owners who've shoehorned in Nissan RB engines like the ones that powered generations of Skyline GT-Rs.