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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.

Recharge Wrap-up: No fast charger funding from GM, Tesla Model X buyer's guide

General Motors does not plan to fund any CCS fast-charging infrastructure to go along with the launch of the Chevrolet Bolt. Other automakers – Audi, BMW, Nissan, Volkswagen and, of course, Tesla - are investing in the deployment of fast chargers to aid the mobility of their EV customers. With the debut of the Chevy Bolt, which has an option for a CCS fast-charging port, Green Car Reports asked a panel of GM executives if it had similar plans. "We are not actively working on providing infrastructure [for the Bolt EV]," says GM CEO Mary Barra. Read more at Green Car Reports. Teslarati has put together a buyer's guide for the Tesla Model X. If you're considering taking the plunge and buying the new, luxury, electric SUV, there are a number of things to take into account that first-time Tesla or EV buyers may not have had to consider before – on top of the usual tough choices any car buyer faces. The guide breaks down the options into categories of pricing, battery, and performance, performance extras, seating, more options, tow/hitch options, and final options (yes, that's a lot of options). It also includes how to find the hidden 72-amp onboard charger upgrade, if that's something you want to consider. Check it out at Teslarati. Renault is an official partner of the 2015/2016 Formula E Paris ePrix. The race takes place around the Hotel des Invalides monument on April 23, and Renault will have a strong presence for the race weekend. The automaker will have its ZE range on display at the ePrix's e-village throughout the event. Renault e.dams won the 2014/2015 Teams' championship title, and is at the top of the standings for 2015/2016. Read more from Renault. EV sales are on the rise in Europe, a trend that's expected to continue according to analysts. Thanks in large part to regulatory measures, electrified vehicle sales (including mild hybrids) are predicted to grow 433 percent to 2.2 million units by 2021. EV sales grew 82.2 percent in the year leading up to September 2015. "It's no secret that the internal combustion engine is expected to be the predominant powertrain in the near term, but increased acceptance of [alternative fuel vehicle] technology, particularly pure electrification, should not be ignored," says PwC Global Automotive Leader Rick Hanna. Read more in the press release below.

Car and Driver 10Best list cracked by Tesla Model S, BMW 3 Series left off

Car and Driver is keeping new blood pumping into its annual 10Best cars list with three new entries making it on for 2015 and a perennial favorite falling off. Among the biggest shocks this year is that the BMW 3 Series and 4 Series are no longer named, despite years of some portion of that lineup earning a mention. In another surprise, the Tesla Model S (specifically in S 60 trim to fit under the $80,000 cost cap) makes it to the 2015 roster and is the only electrically motivated member of the group. Despite the loss of the 3 Series, BMW isn't entirely shut out this year, because the M235i gets its name on the list. Car and Driver argues that the little coupe feels like a welcome throwback to the E46 chassis M3 of the early 2000s. In addition to the Model S, the final newbie to the annual group is the 2015 Ford Mustang GT. The inclusion of these new members knocks the Audi A6/A7 family and Ford Fiesta ST out from the 2014 rundown. The other seven models carry over from last year, including the Cadillac CTS, Chevrolet Corvette Stingray, Honda Accord, Mazda3, Mazda6, Porsche Boxster/Cayman and Volkswagen Golf/GTI. The 2015 10Best cars list certainly seems to have something for everyone from the hot hatch fan to the family man and even the green car driver, thanks to the addition of the Tesla. Head over to Car and Driver to read its detailed explanations for each vehicle's inclusion, but if you've got a difference of opinion or just really like the list, let us know in Comments. Featured Gallery Car and Driver 2015 10Best Cars List View 10 Photos News Source: Car and DriverImage Credit: Car and Driver, BMW, Cadillac, Chevrolet, Ford, Honda, Mazda, Porsche, Tesla, Volkswagen Auto News BMW Cadillac Chevrolet Ford Honda Mazda Porsche Tesla Volkswagen Convertible Coupe Hatchback Performance Sedan 10Best