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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.

Buick Wildcat and Electra concepts, Ford Maverick | Autoblog Podcast #732

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They lead off with a discussion of the news. This section touches on the DeLorean Alpha5, Buick Wildcat EV Concept reveal, revival of the Buick Electra name, production reveal of the Mercedes-AMG One and some scuttle about Volkswagen's recently-bought Scout brand. After that, they move on to the cars they've been driving, including the Ford Maverick and Chrysler Pacifica Hybrid. After the pair finish with what they've been driving, the podcast transitions to an interview between Greg Migliore and former Car and Driver Editor-in-Chief Eddie Alterman. Finally, Greg and Zac wrap things up with some more spring and summer beer recommendations. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #732 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News Delorean Alpha5 reveal Buick Wildcat EV Concept reveal Revival of the Buick Electra name Production reveal of the Mercedes-AMG One Volkswagen's recently-bought Scout brand controversy Cars we're driving 2022 Ford Maverick EcoBoost 2022 Chrysler Pacifica Hybrid Pinnacle Interview with Eddie Alterman Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts Buick Chrysler Ford Mercedes-Benz Volkswagen Truck Coupe Minivan/Van SUV Concept Cars Electric Future Vehicles Luxury Off-Road Vehicles Performance Supercars Sedan

2022 Buick Envision mostly costs a little less than in 2021

When Buick gave the world the second-gen Envision for the 2021 model year, the brand also gave Buick shoppers big discounts, cutting $1,700 from the entry-level Preferred trim's price compared to 2021. Buick's done the same on a smaller scale for 2022, albeit this time the brand made it an exchange, not a freebie. Pricing for the 2022 Envision after the $1,195 destination charge, as well as the differences from 2021, is: Preferred FWD: $32,695 ($300 less) Preferred ST FWD: $34,140 ($180 less) Preferred AWD: $36,345 ($1,550) Preferred ST AWD: $37,790 ($1,670) Essence FWD: $36,795 ($400 less) Essence ST FWD: $38,290 ($230 less) Essence AWD: $38,595 ($400 less) Essence ST AWD: $40,090 ($230 less) Avenir FWD: $41,045 ($550 less) Avenir AWD: $42,845 ($550 less) Buick's publicized list of changes for the 2022 Envision are the addition of a new Sapphire Metallic exterior color, and the Sport Touring package now including the "ST" logo embroidered on the front seat headrests and alloy pedals for all trims, plus contrasting red stitching on the Essence ST trim. What Buick left out, as GM Authority reports, is that some previously standard equipment is now optional, explaining the discounts of a few hundred bucks. Buyers need to buy a new $200 Safety Package to get blind spot and rear cross traffic alerts, which used to be standard with the Driver Confidence Plus suite. Powered lumbar for the driver's seat is also a new option that was formerly standard, bundled with different items and costing a different amount depending on trim. The real shocker is the four-figure price leap tacked onto the Preferred all-wheel-drive trims. In 2021, it cost $1,800 to send power to the rear axle. For 2022, it costs $3,650 to get AWD on the Preferred, but the AWD option on Essence and Avenir trims hasn't budged from $1,800. We aren't clear on the reasons for the change. Every Avenir is powered by a 2.0-liter turbocharged four-cylinder with 230 horsepower and 258 pound-feet of torque, shifting through a nine-speed automatic transmission. Related video: