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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.

2016 Green Truck of the Year, Commercial Green Car of the Year finalists

Not only are commercial-grade haulers getting more green love lately, they're getting more different kinds of green love. The 2016 Green Truck of the Year, the second time the award has been handed out, is being decided by judges from Green Car Journal and the San Antonio Auto & Truck Show. This year the award is joined by the new 2016 Commercial Green Car of the Year, which crowns one of the little vans increasingly used by small business as cargo and delivery vehicles. The Green Truck of the Year finalists are the Chevrolet Colorado Duramax (pictured), Ford F-150, GMC Canyon Duramax, Nissan Titan XD, and Toyota Tacoma. The first three of those were on last year's list, but since they are completely new or upgraded for 2016 - Ford with its all-aluminum body, the General Motors twins with the new diesel Duramax engine - they qualify for entry again. The Ram 1500 EcoDiesel won last year. The Commercial Green Car finalists are the Chevrolet City Express, Ford Transit Connect, Mercedes-Benz Metris, Nissan NV200, and Ram ProMaster City. You can read more details in the presser below, and the awards will be announced in San Antonio sometime during the show from November 19-22. San Antonio Auto & Truck Show Announces 2016 Green Truck of the Year and Commercial Green Car of the Year Finalists SAN ANTONIO, Oct. 22, 2015 /PRNewswire/ -- Green Car Journal and the San Antonio Auto & Truck Show have announced finalists for the 2016 Green Truck of the Year™ and 2016 Commercial Green Car of the Year™ awards. The Green Truck of the Year™ nominees are the Chevrolet Colorado Duramax, Ford F-150, GMC Canyon Duramax, Nissan Titan XD, and Toyota Tacoma. Vying for the all-new 2016 Commercial Green Car of the Year™ award are the Chevrolet City Express, Ford Transit Connect, Mercedes-Benz Metris, Nissan NV200, and Ram ProMaster City. "Over the past few decades, new car models have benefitted from design and technology improvements that have brought higher fuel efficiency and greater levels of environmental compatibility," said Green Car Journal and CarsOfChange.com Editor and Publisher Ron Cogan. "With models like these ten deserving finalists, we're witnessing the pickup and light commercial vehicle field enjoying the same attention." The new Commercial Green Car of the Year™ award is part of an expanded awards program presented at this year's 2015 San Antonio Auto & Truck Show.

Ford to hack $4k off price of Focus EV amid slow sales

Between slow sales and a hefty price drop for its nearest rival, the Ford Focus Electric may be looking at a pretty substantial price cut. The Detroit News is reporting that Ford will drop the price of the all-electric by about $4,000 to $35,200 to be more competitive with the Nissan Leaf, which received a big price cut for 2013 down to $28,800.
Ford has already admitted to having low expectations for the car's sales and massive rebates were reported earlier in the year, but there is still no official word from Ford on this matter. The company's consumer site still lists the 2014 model's starting price as $39,200. In addition to the Leaf, the Focus Electric will also have to deal with the lower prices of smaller EVs including the Honda Fit EV, Fiat 500e and the Chevrolet Spark EV.