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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 demonstrates Mustang's new Line Lock burnout feature

Been saving your pennies for a 2015 Ford Mustang? Put in a few extra shifts or some overtime? Got a great down payment ready? Well, however much you saved for your new pony car, start saving more - you'll need the extra money to spend on tires.
That's because the Mustang will come with a system called Line Lock, which can lock the front brakes electronically, allowing drivers to perform big, dumb, smoky burnouts without moving so much as an inch. It's sort of like launch control, only the average driver might actually use it.
Now, line locks aren't uncommon, particularly in drag racing. Usually, a flip of the switch locks the front brakes. The Mustang, besides offering the system from the factory which is unique in and of itself, looks a bit more involved.

Ford's J Mays feels vindicated by Fusion reception

It's hard to think back now, but the same man overseeing the design of the 2013 Ford Fusion also presided over a rather lackluster period in Ford design, highlighted by vehicles like the Five Hundred and Freestyle. With the redesigned Fusion receiving high praise, J Mays tells Automotive News that he feels vindicated from criticisms suggesting he's not a daring enough designer.
When Mays took over as lead of design in 1997, he admits to having quite an ego ("My head would barely fit through the door some days. I've long since gotten over myself") and the workload to match. With the Blue Oval's portfolio full of premium brands like Aston Martin, Jaguar, Land Rover and Volvo at that point, along with the bread-and-butter Ford, Lincoln and Mercury models, Mays certainly had quite the challenge.
It was in the mid-2000s that Mays took over just the premium brands, and took on the new title of Chief Creative Officer. At the time, Mays endured some criticism for looking backwards to retro styling, rather than setting a new standard for American car design - criticism that Mays says he is free from with the all-new Fusion.