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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.

Daimler and Nissan venture to build cars in Mexico

Nissan and Daimler have been partnering ever closer for years, and now an unnamed source has told Reuters that the automakers have agreed to a 50-50 joint venture in Mexico that would build Infiniti and Mercedes-Benz models. Given that the rumors about just such a deal go back nearly six months and similar rumblings are years old, this arrangement has been a long time coming.
The insider tells Reuters that a memorandum of understanding was signed between them last month to build the Mercedes GLA-Class and new Infinitis at Nissan's Aguascalientes factory. The rumor didn't say when production would begin. It wouldn't be the first time the two automakers have decided to share this platform - Infiniti will build its Q30 compact on it in the UK next year.
The partnership between the Renault-Nissan Alliance and Daimler goes back to 2010 when the companies signed an agreement to share engines, factories and platforms. Since then, products of the partnership have included the underpinnings for the next-generation Smart and Renault Twingo and shared engines among some other models.

Nissan Juke facelift spied during testing

The Nissan Juke boldly reinvented the subcompact crossover for the modern age a decade after the niche's progenitors - the first-generation Toyota RAV4 and Honda CR-V - grew well beyond their original, diminutive sizes. Since being introduced in 2010 as a 2011 model, the Juke has proven to be a huge sales success for Nissan in Europe and quite a success here, too. A modest refresh is planned for the 2015 model year of Nissan's tiniest crossover, and our spy shooters have caught an early glimpse.
The exact changes are not easy to spot, but you can bet that anywhere you see camouflage, a modestly new look is hidden underneath. The biggest change up front is the narrower grille that appears to no longer extend over the headlights. Assuming this isn't just a clever disguise, the change gives the impression that the Juke actually has distinct headlights, instead of massive fog lights. The more angular front air dam also appears to extend slightly lower than before, and the intakes appear to be revised as well.
The changes to the rear are even more minor. You can still see the outlines of the boomerang-shaped headlights, and any alterations to the rear bumper are impossible to spot behind the camouflage tape. It's also unclear at this point whether the interior will receive any refinements or new options.