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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 other Cadillac wagon. It's as American as ABBA

The Cadillac CTS Wagon became a cult classic the second it went on sale. We all knew that it was never going to sell in anything approaching significant numbers, and if that "we" didn't include those actually working at GM, one would have to wonder what they were smoking. Cadillac was still having a hard enough time trying to convince people that it was now a BMW-fighting sport luxury brand rather than the purveyor of Grandpa-piloted land yachts. To many, a sport sedan like the CTS seemed like a stretch. But a CTS sport wagon? It sure seemed like GM was just doing things for funzies, an impression only enhanced by the CTS-V Wagon. Forget cult classic. That thing was an instant legend.  And yet, the CTS wasn't the only Cadillac of that era offered as a wagon. It wasn't even the first. Before GM said "to hell with it, let's have some fun" on this side of the pond, over in Europe, it had already taken a page from its old badge-engineering playbook to create the 2006 Cadillac BLS Wagon. It was available as a sedan, too, but its awkward majesty is best enjoyed as the long-roof model.  There's just something off about the whole thing, right? That's probably because it also looks vaguely familiar, as if you've seen it before. So where the hell does this thing come from? Sweden! Behind that Cadillac Art and Science face is a Saab 9-3, and in the case of the BLS Wagon, the Saab 9-3 Sport Combi wagon. The roofline is the dead giveaway, as no other wagon has ever looked like that. In fact, the roof and windows were the only exterior elements to copy directly over from 9-3 to BLS. No kidding. With the Cadillac front end, doesn't the Saab-funky-boxiness make it look like a miniature hearse? The answer is yes. GM's design team, led by Ed Welburn, was quite pleased with his work. Perhaps it even egged him on to create a real Cadillac sport wagon? "The whole team was very excited to apply Cadillac's design language to a wagon for the first time," said Welburn in a press release from the time. "The V-shaped chrome-plated grille, a Cadillac hallmark, is picked up again by the shape of the rear window, and the body side character lines make it unmistakably a Cadillac." The interior is surprisingly different from the 9-3, including the ignition switch migrating from the center console up to the steering column. It also wasn't exactly in keeping with the Cadillac norm of the time.

GM recalling 54k Cadillac SRX, HD pickup models

There are more recalls to report General Motors, but these latest actions pertain to newer examples of the Cadillac SRX, Chevrolet Silverado HD and GMC Sierra HD. With so much scrutiny on the company's recall strategy, GM is under increasing pressure to call in defective models more quickly, and it appears to be doing so here.
Here in the US, the automaker is recalling 50,571 Cadillac SRX crossovers from the 2013 model year fitted with the 3.6-liter V6 because the transmission control module programming can cause a three- or four-second lag in acceleration at low speeds. The explanation filed with the National Highway Traffic Safety Administration states, "if the following sequence occurs within two seconds: during an upshift from first to second gear (8-10 mph), the driver then brakes the vehicle to less than 5 mph, and then accelerates again," the delay can occur. According to Automotive News, the recall effects 56,400 vehicles worldwide, and the company is not aware of any crashes caused by the problem. The fix consists of a transmission control module (TCM) reflash.
In a separate recall, GM is repairing 51 Chevrolet Silverado HD and GMC Sierra HD pickups from the 2015 model year in the US. In vehicles with diesel engines and dual fuel tanks, the nuts that connect the fuel pipe to each side of the transfer pump between the tanks may be improperly torqued, which could cause a fuel leak. Obviously, this could be a fire hazard. The remedy is simply tightening the hardware. According to GM spokesperson Alan Adler, there have been no fires actually caused by the potential leak. "Only 21 of the trucks are in customer possession and they can be fixed anytime because there are no parts involved. The others are being fixed at dealerships," Adler said in an email to Autoblog.