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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.

Ford issues four recalls covering 163k vehicles

Recalls! 2014 will be forever remembered as the year that automakers went recall crazy, with millions and millions of vehicles adding up to crush previous recall records well before the end of the year. Adding to that tally is Ford, which announced a call-back for 163,000 vehicles.
Leading that charge are the 2.0-liter, EcoBoost four-cylinder engines of the Ford Focus ST and Ford Escape. 160,000 of the 2013 and 2014 models have bad wiring harnesses that can disrupt the signals traveling to the powertrain control module. That, in turn, could lead to a check engine light, reduced power and stalling. Notably, Ford hasn't recalled any other vehicles that feature the 2.0 EcoBoost, such as the Fusion, Taurus or Explorer.
While the Focus ST and Escape constitute the vast majority of recalled vehicles, they aren't the only problem children in the Ford family. 1,300 Transit passenger vans from model year 2015 were recalled due to brake fluid leaks, while another 600 Transit cargo variants were recalled after Ford discovered the windowless sliding doors could come open in the event of a side-impact crash. Dealers will replace the sealing washers on the passenger variants and add a reinforcement plate on the cargo models, The Detroit News reports.

Mustang-themed pinball game debuting in Chicago [w/video]

Believe it or not, but new pinball machines are still being made. Chicago-based Stern Pinball still makes them and has found a niche selling modern machines to individual buyers and arcade distributors. For its latest cabinet, Stern partnered with Ford to create a pinball game that pays homage to the 50th anniversary of the Mustang, including the next generation. The new machine is being unveiled at the Chicago Auto Show on February 6 and goes on sale in March.
Stern is offering the machine in three variants. The pro-level machine is meant for arcades and public spaces and retails for $4,995. All of them come with background and cabinet art by Camilo Pardo, who designed the Ford GT, and Top Gear USA host Tanner Foust is the game's announcer. Depending on where players shoot the ball, they activate events that simulate drag racing, rallying, drifting and racing the Mustang, and hitting targets lets players shift the gears up and down.
An upgraded, premium table with added art will be added later for pinball machine collectors. The third model is a signed, special edition with art of the 1965 Mustang and 2015 Mustang on the machine and chrome and Mustang badges on the speaker grilles. Prices for these editions will be announced later.