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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.

How Cadillac improved power output in 2016 ELR by 25 percent

Earlier this year, Cadillac announced that the 2016 ELR would come with a big price drop and a powertrain that packs 25 percent more power output. That's a lot more oomph, but it didn't sound like the Caddy engineers made any major changes to the engine or motors. So, what happened? Let's refresh our memories with the numeric details. The 2016 car is 1.5 seconds quicker to 60 miles per hour than the 2014 model (there was no 2015), down to 6.4 seconds. The 2014 put out 295 pound-feet of torque. For 2016, it will be 373 lb-ft. The specific breakdown of the various components in the powertrain has not been disclosed, but from what we can tell, the two electric motors and the 1.4-liter inline-four engine in the new ELR are not that much different than those in the old one. Sam Abuelsamid, senior research analyst at Navigant Research (and former writer here at Autoblog) said that any of the unspecified upgrades would be difficult to tell on a part-by-part basis, but the overall effect will be noticeable. "The changes to the ELR as I understand them are analogous to getting more performance out of a 1965 Mustang with the entry version of the 289 cubic-inch V8. You can replace the carburetor with a larger version that enables more air and fuel to flow into the engine, thus producing more power. The basic engine hasn't changed, but power capability is being unleashed by feeding it more." "Cadillac has changed components in the power electronics to enable more current flow into the motor and thus produce more torque. When you do this in the Mustang, you probably need to replace the rear axle gears and use a beefier clutch to transmit the power to the wheels. Similarly, the ELR probably has some upgraded clutches, bearings, and gears to withstand the increased total output." Cadillac spokesperson David Caldwell told AutoblogGreen in an email that the new ELR does indeed have more than just new lines of code. "One could not 'reflash' a previous ELR to get the performance of a 2016," Caldwell said. "If one only changed software you would not get the performance upgrade fully, as the 2016 creates higher current, more power. So these have been upgraded physically – hardware.

GM recalling 8.4M cars, 8.2M related to ignition problems

General Motors today announced a truly massive recall covering some 8.4 million vehicles in North America. Most significantly, 8.2 million examples of the affected vehicles are being called back due to "unintended ignition key rotation," though GM spokesperson Alan Adler tells Autoblog that this issue is not like the infamous Chevy Cobalt ignition switch fiasco.
For the sake of perspective, translated to US population, this total recall figure would equal a car for each resident of New Hampshire, Rhode Island, Montana, Delaware, South Dakota, Alaska, North Dakota, the District of Columbia, Vermont and Wyoming. Combined. Here's how it all breaks down:
7,610,862 vehicles in North America being recalled for unintended ignition key rotation. 6,805,679 are in the United States.