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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.

2015 Ford Mustang production starts in Flat Rock

Today's the day, Ford fans. Production has officially commenced on the sixth-generation 2015 Mustang at the company's Flat Rock, MI factory. As production ramps up, sales should kick off in the coming months.
The production news isn't just a bit deal for American fans. With the new Mustang getting a bespoke right-hand-drive variant, the pony car's worldwide availability has swollen to include 120 different countries, including its home nation.
"Mustang is and will continue to be an automotive icon," Joe Hinrichs, Ford's president of the Americas, said in a statement. "Expanding its availability globally affords our customers around the world the opportunity to have a true firsthand Mustang experience - one unlike any other."

Forza Horizon announces January Recaro Car Pack with LFA N"urburgring Edition

Another month, another car pack for Forza Horizon. This time it's the Recaro Car Pack featuring a motley gang of cars and trucks: the 1983 GMC Vandura G-1500, 1995 Ford Mustang Cobra R, 2012 Cadillac Escalade ESV, 2005 Mercedes-Benz SLR, 2012 Lexus LFA Nürburgring Edition and 2012 Lotus Exige S.
It'll be up for download on Xbox Live on Tuesday, Jan. 1, 2013 for 400 MS Points. As usual, if you have the Forza Horizon Season Pass you can get them all free, and Season Pass holders will also get a bonus car that's not pictured: the 2009 Pagani Zonda Cinque Roadster.
The Pagani is everything opposite to that Vandura, but while you might not ever win anything with the van, you can always use the back of it as a place to give out free hugs. Check out the video and press release below for more details.