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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.

Does Scion's LA concept presage a US Auris?

When the doors open at the LA Auto Show in a few weeks, Scion will be on hand to showcase its new iM Concept. But considering what little Toyota's youthful brand has revealed about the concept so far, it's led to rampant speculation. And the prevailing wisdom seems to point towards a production iM arriving as a Scion-badged version of the Toyota Auris.
For those unfamiliar, the Auris is to European (and other) markets essentially what the Matrix is (was?) to ours: a hatchback version of the Corolla. The model line was first introduced in 2006, looking in its first iteration like an overgrown version of the contemporary second-gen Yaris, and was replaced with the current model in 2012. It's available as a five-door hatch or wagon, with a range of gasoline, diesel and hybrid powertrains available.
If the rumors - spurred by the similarity of the iM concept's nose depicted in the teasers - prove accurate, and public reception to the idea ends up spurring Toyota to put it into action, it wouldn't be the first overseas Toyota brought over as a Scion. The Scion iQ was sold as the Toyota iQ overseas years before it arrived here.

Toyota C-HR stays sharp from prototype to production

Scion is dead. While the troubled brand was given 13 years to make a case for itself, it never quite succeeded. And that's a shame, because we're pretty confident that this, the production-spec Toyota C-HR would have been one of its biggest hits. Instead, when it arrives in the US, it will be as a Toyota... where it will still likely be a big hit. The new small CUV made its debut after literally years of teasing concepts, the most recent of which was shown late last year in Los Angeles, where it was badged as a Scion. After seeing that car, it's quite clear that Toyota has strained itself to translate its style to the real world. Up front, there's clear inspiration from the Toyota Auris/Scion iM. But aside from the front, the C-HR's biggest inspiration appears to be the Nissan Juke. View 14 Photos It's like Toyota has tried to go even further, though. Its wheel arches are flared even more aggressively and they feed into a strong character line on the lower portion of the doors. In back, Toyota's designers seem to have just rotated the Juke's taillights 180 degrees while they sit below an extremely fast rear window. Said window is integrated into today's latest design trend, a floating roof. Mechanically, the C-HR rides atop Toyota's New Global Architecture, which is Japan's answer to Volkswagen's MQB architecture. Power comes from a hybrid drivetrain, good for a relaxed 120 horsepower. If you don't want hybrid power, Toyota will sell the C-HR with the Euro-market Auris' turbo 1.2-liter engine, but we almost certainly won't see that here in the US. Instead, American drivers will probably be left with nothing but a 2.0-liter, naturally aspirated four-cylinder. That engine will be exclusively paired with a continuously variable transmission that sends power to either the front- or to all four wheels. So there's Juke inspiration, but not in the driving character. Toyota says it will build the C-HR Hybrid in Turkey. We don't know if that facility will handle US-market vehicles or just Europe, but we wouldn't be surprised to see additional facilities come online to produce this stylish little bugger. Related Video: TOYOTA C-HR Toyota's Fresh New Take on the Crossover 2016 Toyota Motorshow Geneva Making its world debut at the 2016 Geneva motor show, the C-HR gives Toyota a powerful new presence in the crossover market.