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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.

Mazda2 refreshed for 2020 with new style and tech

The North American market Toyota Yaris is a badge engineered version of the Mazda 2. Now, the Mazda underneath the Toyota badging has received some updates in its home market of Japan, and it will be interesting to see if or when the U.S. counterpart will be refreshed with any of these updates. The 2020 Mazda 2, now indeed called "Mazda 2" instead of the older Demio name on the Japanese market, has received new front end styling to bring it in line with bigger Mazda models. The grille and bumper are new, as are the headlights with adaptive LED technology and LED daytime running lights. Apparently the headlights are constructed out of 20 individually controlled LED blocks to optimize light output and direction, which sounds awfully interesting for this class of vehicle. The front end design, just like the new 16-inch alloy wheels, is Mazda-specific and the Yarisized version is unlikely to benefit from them, especially since the headlights are also different on the Toyota. Cabin materials have also been updated, and the driver’s seat is available with six-way power adjustability for 2020. The MZD Connect infotainment has Apple Carplay and Android Auto support, like the Yaris setup. In addition, cabin comfort is said to have been improved with better soundproofing, which is sometimes sorely needed in this class of cars. Safety and convenience features include adaptive cruise control, which is impressive on a city car, and the Mazda 2 also has the G-Vectoring Control Plus system for high-speed stability. Both the diesel and gasoline versions will get Mazda's i-Eloop brake energy regeneration system. The Japanese market also gets an all-wheel-drive version, which is surely a hoot despite only being available with the automatic transmission. CarAdvice says the Australian market will receive the redesigned Mazda 2 early next year, which is probably in line with the rest of the global market that gets it as a Mazda instead of a Toyota; Mazda says Japan market pre-orders have started today and official sales will begin on September 12th. It pays to remember that the base car dates back to 2014, and that the 2020 refresh is a facelift instead of a ground-up redesign. Assuming the usually expected shelf-life for the facelifted edition, the 2 will have racked up respectable mileage from the “DJ” generation bodyshell.

Toyota, Mazda drop Takata as Mitsubishi, Subaru weigh options

It's not a very good time to be Takata right now. Fresh on the heels of longtime partner Honda ditching them, Toyota and Mazda have both come out and said they will not use the company's airbag inflators if they continue to rely on ammonium nitrate. Bloomberg reports that Subaru and Mitsubishi are also contemplating a divorce. "The inflator using ammonium nitrate produced by Takata will not be adopted by Toyota," President Akio Toyoda said during a briefing today. "What's most important above anything else is the safety and peace of mind of customers." Mazda echoed that position, simply saying it "will not use Takata airbag inflators which contain ammonium nitrate in our new cars." When you lose three huge OEM accounts in as many days, it's certainly going to have a deleterious effect on your fortunes. In Takata's case, that's meant a staggering 39-percent drop in their share price over the last three days. Yesterday alone, the company saw a 6.2-percent fall, Bloomberg reports. As the business publication reports, though, Takata isn't going down without a fight. The company is "considering some plans to survive," including a fundraising plan that will see it potentially offer up additional shares for sale. Still, at least one analyst doesn't see whatever company survives staying involved in the airbag inflator business. "I really don't see how they're going to be able to survive as an inflator manufacturer," Valient Market Research founder Scott Upham told Bloomberg. "When your major clients publicly come out and say that they're not going to use your products anymore, it makes this very difficult to sustain your business." News Source: Automotive News - sub. req.Image Credit: Carlos Osorio / AP Honda Mazda Mitsubishi Subaru Toyota Safety supplier