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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.

Incrementally better than ever | 2017 Toyota 86 First Drive

We'd love to tell you that the incremental upgrades bestowed upon Toyota's rear-wheel-drive coupe as it made its transition from Scion FR-S to Toyota 86 have transformed it into a perfect sportscar. If only a few more horsepower, shorter rear-end gearing, and tiny aero updates were enough to quell all the complaints that enthusiasts have leveled at the machine since the platform first hit the road in 2012, this review would have been so much more satisfying to write. Sadly, that's not the case. Don't get us wrong. The 86 is still extremely fun to toss around a twisty road. The chassis is impressively balanced, the steering is direct, and the shifter is sweet. Sorry to impart upon you this well-worn trope, but the old adage that it's more fun to drive a slow car fast than it is to drive a fast car slow is, in this case, completely accurate. The 2017 Toyota 86 is nothing if not entertaining. But it's not completely new. It hasn't been transformed. It is, in the end, the same as it ever was. It will take about three minutes of your time to watch the videos below, in which we cover pretty much everything that's new for the 2017 Toyota 86. Toyota 86s equipped with manual transmissions get a five-pony boost to 205 horsepower and 156 pound-feet of torque. Automatic models soldier forth with a carryover 2.0-liter four-cylinder that puts out 200 hp and 151 lb-ft. Apparently, more than half of Scion FR-S buyers chose the automatic. That's unfortunate, as it drains a good deal of the fun out of the 86 experience. Choose the manual and you'll be rewarded with an easy clutch and a rewarding short-throw shifter. And, as we said, five more ponies, courtesy of intake and exhaust tweaks and the polishing of some internal engine components. The only upside to the automatic is improved fuel economy of 24 miles per gallon in the city and 32 on the highway. Manual 86s are EPA-rated at 21/28. Along with the small bump in power, the 2017 86 gets a 4.3:1 rear-end gear ratio in lieu of the old 4.1:1 unit. That ought to translate into a small improvement in acceleration that really only matters on paper. In the real world, on actual roads, the difference is negligible. To eke the most out of the 86, you have to constantly work the shifter and keep the engine north of 5,000 rpm. It's still not particularly quick, but it's definitely fun. There's plenty of noise inside the 86, from the wind, the road, and the engine.

Pickup sales may hit 2M units for first time since 2007

Even as fuel prices creep back up, trucks are still a hot item among new-vehicle shoppers. To see how popular pickup trucks still are, you don't have to look any further than how much effort automakers put into the continual one-upmanship of their trucks. Backing this fact up, USA Today is reporting that the segment could top two million sales this year - a total not matched since 2007, though still far from the pre-recession, three-million-unit levels.
Through August, the Ford F-Series continues to be the segment leader with almost 500,000 units sold, but the Chevy Silverado (328,269), Ram 1500 (234,642), GMC Sierra (122,232) and Toyota Tacoma (110,293) are all seeing at least 20-percent sales increases, helping to account for around 1.44 million truck sales so far this year - not including possible outliers like the Suzuki Equator and Chevy Avalanche.
This year alone, General Motors has completely redesigned its fullsize trucks, Ram and Toyota have significantly updated their offerings, the next-gen Ford F-150 will be out next year and Nissan is promising an all-new Titan around the same time with an eventual Cummins diesel under the hood. It would seem, then, that truck sales are poised to continue their upward trend.