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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.

Tom Kristensen walks through a perfect lap of Le Mans in Forza 5

One of the best ways of learning a new track, aside from driving it, is to hear someone that's intimately familiar with it give you a good walkthrough. That's just what you'll get here, as the winningest driver in 24 Hours of Le Mans history, Tom Kristensen, walks you through the Circuit de la Sarthe's high-speed, 8.5-mile strip of pavement.
Kristensen is dubbed over scenes of drivers from a Forza Motorsport 5 contest lapping the track at the wheel of an Audi R18 E-Tron Quattro, adding a bit of visual sense to the Danish drivers description of the track.
With the 2014 24 Hours of Le Mans kicking off this weekend, this is just the sort of video you'll want to watch to get you in the mood. Take a look below, and then let us know what you think in Comments.

2015 Audi RS7 Dynamic Edition is a pretty car for a pretty penny

Making its world debut at the New York Auto Show, and commanding a $40,250 premium over the base RS7, is Audi's new 2015 RS7 Dynamic Edition that arrives with an MSRP of $146,045 (including destination and delivery). The range-topping hatchback is designed to showcase Audi's exclusive program, which allows customers to choose choose from the automaker's long list of options and then take the customization one step further with bespoke paintwork, upholstery, bodywork and wheels.
The interior features Black Valcona leather seats with Crimson Red honeycomb stitching, and matching Crimson Red seat belts. The contrasting color is carried through to the stitching on the dashboard, center armrest, door panels, shift boot and center console. Carbon fiber inlays provide additional contrast. The exterior is offering in four colors (Ibis White, Suzuka Gray metallic, Daytona Gray pearl and Phantom Black pearl), with each arriving with performance-oriented DRC suspension (with three-stage adjustable dampers), 21-inch Gloss Black wheels, Tornado Red painted brake calipers and sport exhaust. A carbon fiber front splitter, rear diffuser and carbon fiber engine cover complete the package.
Like the standard RS7, the Dynamic Edition arrives with a twin-turbocharged 4.0-liter V8 rated at 560 horsepower and 516 pound-feet of torque. With an eight-speed automatic transmission, running through Audi's Quattro permanent all-wheel drive and a sport differential, the four-passenger vehicle will crack the 60 mph acceleration benchmark in a reported 3.7 seconds - and, thanks to cylinder-on-demand technology, it avoids a gas-guzzler tax. The RS7 Dynamic Edition arrives at dealerships in early summer.