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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.

Meet the Most Elegant Automobile, and it's for sale

Alright, so maybe "most elegant" is a bit of a stretch, but we feel safe in calling the 1992 Toyota Paseo in the video below an "automobile." High praise, we know. Still, it's clear someone loves the awkward little coupe enough to produce a hilarious video to sell the thing. Henry Floyd worked up a quick parody of the over-the-top luxury car ads we all know and loathe, and while the finished product is a little skimpy on details like price or location, it certainly doesn't hold back on the exposition.
Hell, if we didn't already have a parade of horrible ideas floating around our collective driveways, we might even be convinced to give this little heap a new home. You can check out the ad for yourself below, just don't be surprised if you find yourself with a burning desire to own a Paseo.

MotorWeek remembers retro icons, Supra and NSX

It's easy to poke a joke here and there about John Davis, the long-time host of MotorWeek. His voice is so monotonous that, from time to time, if you closed your eyes, you may think it's generated via a computer. But you have to give him and the rest of the show a lot of credit. The program has been on the air for decades, giving people direct, straight-down-the middle automotive reviews.
MotorWeek's massive back catalog of reviews are slowly making their way onto YouTube, and they provide a fascinating chance to look back on how performance cars rank against their contemporaries from back in the day. Two recent additions include the show's old looks at the 1986 Toyota Supra, the dawn of the third-generation model, and the now-iconic 1991 Acura NSX.
Both reviews are interesting in their own way. These days you hear nary a negative word about the original NSX, but MotorWeek isn't afraid to point out a few flaws. And the Supra really shows the progress of suspension tuning in the intervening decades because it has some serious body roll in the corners. Scroll down to check out both videos and get a blast from the automotive past.