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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, Mitsubishi team up for $14,000 electric car

Last November, the Renault-Nissan Alliance and Mitsubishi announced a partnership to build some tiny electric vehicles for the Japanese market. Well, the partnership is going to build more than that (like the Nissan Dayz, pictured above in Roox form, and the Mitsubishi eK wagon), but we're most interested in the upcoming plug-in results. Those results are not here yet, but we now know that the 50-50 joint venture is moving forward and that the first "kei car" EV from the project is now due in fiscal 2016, according to the Nikkei Asia Review. The makers of the popular Leaf and i-MiEV electric vehicles say that the new small EV will be the cheapest EV on the market when its released, potentially priced at 1.5 million yen (around $14,700 US). Currently, the i-MiEV is the cheapest EV option in Japan, with a 2.5-million yen starting price (just under $24,500 US) before incentives. Taking a good $10,000 of the purchase price is likely more than enough to counter the smaller size and, perhaps, more limited amenities. Featured Gallery 2014 Nissan Dayz Roox: Tokyo 2013 View 15 Photos News Source: Nikkei Asia Review Green Mitsubishi Nissan Renault Electric kei car

The Scoot Quad is Nissan's small step toward EV car sharing

Halfway up Laguna Street, the panic set in. I might not make it up this hill. With my foot depressed all the way to the floor, I sucked in my stomach and started to pray. Yet again, I found myself in an unconventional way to get around on four wheels – but this time, I was on my own, and behind the wheel. Meet the Scoot Quad, aka Nissan New Mobility Concept, aka Renault Twizy. The many aliases reflect the path of descent from its development as a quirky French electric vehicle to its proliferation as a model for car sharing. The Quad resides in San Francisco as part of the Scoot fleet of shared electric vehicles and it's most certainly not for sale. As the line blurs between those who share cars for personal reasons and those who use them for business purposes, Scoot and Nissan came to an agreement in which a small number of New Mobility Concepts would join the Scoot fleet – which currently includes over 300 motorbikes. The added value of Scoot is the capacity for one-way rentals around the city, as well as a dedicated network of charging stations. "We think it's just the best way to get around the city for everyone," said Scoot fleet vice president Mike Waltman, explaining how 10 New Mobility Concepts made their way to San Francisco. Charging time is about four hours on a Level Two charger, made possible through Scoot's network of stations around the city. The one-plus-one Twizy has been in production since 2012 and on sale in certain overseas markets, but it's entirely new for the United States, and it wears the Nissan badge here – kind of. No major changes were made to the Twizy when it became the New Mobility Concept, and similarly none were made in its "transformation" to the Quad. It sports the same insectile shape and the rear profile of a top hat, as well as an identical powertrain: a 13-kilowatt motor that produces 17 horsepower, routed to the rear wheels through a single-speed automatic transmission. Charging time is about four hours on a Level Two charger, made possible through Scoot's network of stations around the city. Its top speed is 50 miles per hour, but Nissan installed a governor at 25 mph to conform to US low-speed vehicle requirements. New Scoot members are required to successfully pass an exam before beginning to use the service, so that was my first order of business. After spending about 35 minutes going through a series of informational videos on the Scoot app, as any new member would do, I was ready to ride Scoot motorcycles.