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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.

Autoblog Minute: 2017 Ford F-Series Super Duty truck reveal

Competition in the heavy duty truck segment heats up as we get our first look at the 2017 Ford F-Series Super Duty lineup. Autoblog's Adam Morath reports on this edition of Autoblog Minute. With commentary from Autoblog's senior editor Greg Migliore and an interview with Doug Scott of Ford Motor Company. Update: This post has been updated to reflect that the entire Ford F-Series Super Duty lineup is new for 2017, not just the F-250 model. Show full video transcript text [00:00:00] Competition in the heavy duty truck segment heats up as we get our first look at the 2017 Ford F-Series Super Duty trucks. I'm Adam Morath and this is your Autoblog Minute. As Ford prepares to release its new Super Duty line to the American worker, we spoke with Doug Scott of Ford's Truck Group to find out what customers can expect from this latest super duty offering: [00:00:30] [Doug Scott Interview] For more on what the changes to Super Duty mean for the segment we go to Autoblog's Greg Migliore: [00:01:30] [Greg Migliore Interview] Will a larger cabin and increased towing capacity help these heavy duty trucks take off like the smaller F150? And, how will the other HD giants, Chevy, GMC, and Ram respond? Truck fans, be sure to sound off in the comments below. For Autoblog, I'm Adam Morath. [00:02:00] Show Logo Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. Chevrolet Ford GMC RAM Truck Autoblog Minute Videos Original Video ford f-250 f-250 super duty

Goodbye, Shelby GT350; hello, new Honda Ridgeline and Subaru BRZ | Autoblog Podcast #648

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. This week's news includes Subaru teasing the next-generation Subaru BRZ, the Jaguar XE departing and the XF getting an update, Honda unveiling the new Ridgeline pickup and the Acura NSX suffering from slow sales. This week they talk about driving two vehicles on opposite ends of the spectrum: the Ford Mustang Shelby GT350 and the Volkswagen Atlas. Autoblog Podcast #648 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Subaru previews next-generation BRZ, announces fall 2020 unveiling date Jaguar XE axed from U.S. market: And then there was one sedan 2021 Jaguar XF gets new interior, down to four-cylinder engines and sedan body style 2021 Honda Ridgeline debuts, and it finally looks like a truck Acura NSX sales lagging Cars we're driving: 2020 Ford Mustang Shelby GT350 Heritage Edition 2020 Volkswagen Atlas Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: