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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.

Toyota Auris Touring Sports is a handsome Prius V alternative [w/videos]

The Toyota Prius V has a lot to recommend it, but adventurous and sporty styling is not in its repertoire. That's why this new Auris Touring Sports has our attention. Claimed to be the "first full hybrid estate car" in the compact class, this two-box Auris has genuine visual panache to go with its load-lugging capability and parsimonious fuel economy. In the metal, we think its v-shaped grille and headlamp treatment acquits itself better than it does on the new RAV4, a model that shares its new design language.
Built by Toyota UK, the Auris Touring Sports hybrid is powered by a familiar-sounding 1.8-liter gas engine paired with an electric motor, with total system output quoted at 134 horsepower. The model will also be available in a variety of gas or diesel trims if you prefer your vehicle sans electrification (a non-hybrid model is shown). It goes on sale later this year in Europe, but don't hold your breath to see one in North America. Still interested? Scroll below to see a couple of videos and to read the official press release.

Toyota FT-1 hints at Supra, more aggressive hybrids

Toyota showed off the new FT-1 performance concept at the 2014 Detroit Auto Show today, and the obvious story angle is that this is the new Supra. That's enough weight for most concept cars to carry, but then we thought about it a bit more - FT-1 stands for "Future Toyota 1," after all - and re-read the hints Toyota is dropping about how the FT-1 fits into the company's future. Put all the pieces together, and we think there's a chance Toyota's hybrid models are about to get a whole lot cooler. Technically, the FT-1 is an EV, but that's just because all it has for a powetrain is a small battery and motor to move it around on stage. This concept doesn't even have a proposed powertrain, but a production Supra could have any number of powerplants under the hood (V6, V8, hybrid and inline-six are all mentioned by Automotive News). We also like the big red start button on the steering wheel, which owes at least a little to the blue start button in the Prius. What we're more interested here is what this sleek red beast could do for the look of Toyota's hybrids. The FT-1 could change how Toyota designs cars in the future. To make the FT-1, Akio Toyoda, the president and CEO of Toyota Motor Corporation, apparently challenged Toyota's Calty Design Research team to create a car with passion and "a palpable heart-pounding sense of excitement." Instead of making design decisions "by consensus among a large group of stakeholders," the company says "the [design] approval process has been streamlined. This new approach aims to produce cars that connect more deeply with customers." There was a sense in Detroit today that the FT-1 heralds a change in how the company designs cars in the future. The FT-1 is apparently not the result of Toyota's hybrid supercar partnership with BMW, but we know that Toyota isn't a total stranger to a high-performance hybrid category, having built the TS030 hybrid Le Mans race car. For an on-road gas-electric from the company, though, we're much more used to the egg-shaped Prius. While Toyota has backed off a 2003 pledge to make every model a hybrid, it has said that it wants gas-electrics powertrains to proliferate throughout the line-up. And, if the FT-1 previews a new Toyota look, then at least some of those hybrids will benefit from some of the good looks on display in Detroit.