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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.

2014 Chevy Silverado details continue to dribble out

PickupTrucks.com has gotten its hands on a few more details concerning the 2014 Chevrolet Silverado and the 2014 GMC Sierra. General Motors held a conference call on the two trucks, allowing Jeff Luke, executive chief engineer for both, to answer a few questions. Luke said truck buyers are largely concerned with power and fuel economy, and as such, GM will continue to explore new methods of providing both. That may translate into any number of drivetrain permutations, including light-duty diesel engines, eight-speed transmissions or even a twin-turbocharged V6.
What's more, both the 2014 Silverado and its GMC twin will boast a tow rating of 11,500 pounds, but only when equipped with a max-trailering package. Without that special package, the rating drops to 10,200 lbs for regular cabs and 9,700 lbs for crew cabs. Buyers will no longer be able to opt for a 4.10 gear ratio.
We're also excited to hear that GM plans on making the Z71 package into something more than just a few a stickers. While Luke didn't go into details, PickupTrucks.com says "it will get significant improvements in the future." Head over to the site for a quick rundown of the call's highlights.

Recharge Wrap-up: BYD unveils 60-ft electric bus, Honda sticking with hybrids in Europe

BYD has debuted a 60-foot electric bus at the American Public Transportation Association Expo in Houston, TX. The Lancaster bus, as it is called, has a 120-passenger capacity and can drive over 170 miles on a single charge. The articulated bus features low floors and no steps, thanks to in-wheel hub motors. BYD also displayed a 40-foot electric bus that drove the 1,500 miles to the show under its own power (recharging along the way, of course). Read more in the press release below. Honda says it will continue to sell hybrids in Europe, despite the fact that it has stopped selling the CR-Z and Insight due to slow sales. "Our focus at the moment is on our 1.6-liter diesel but we haven't forgotten about hybrid technology," says Honda Europe's Philip Ross. Honda will sell the next-generation Fit (badged as the Jazz) in Europe when it launches next summer, and will sell the next-gen hybrid version beginning in 2016. Honda sold 4,500 of the Jazz hybrid in Europe last year. Read more at Automotive News. XL Hybrids is selling its XL3 Hybrid Electric Drive System in California. The news comes after the California Air Resources Board issued an executive order allowing the aftermarket hybrid conversion for 2012-2014 Chevrolet Express and GMC Savana vans. The XL3 Hybrid regenerative braking conversion increases real-world mpg by about 25 percent. Read more in the press release below. NRG eVgo has finished installing 60 charging stations at the Sony Pictures Entertainment studio lot and offices in Culver City, California. The Level 2 chargers, which will be managed by NRG eVgo, allow employees to charge their EVs during the workday. An average of 90 EVs and PHEVs park at the studio headquarters every day, thanks in part to Sony Pictures' Alternative Vehicles Incentive program for its employees. Learn more in the press release below. Pennsylvania's Public Utility Commission will allow operators of EV charging stations to set prices based on kilowatt hour usage. This change ensures that drivers pay for the actual energy they use, rather than the time they spend charging, since different cars can charge at different speeds. Car Charging Group has already begun using the per-kWh fee structure at its charging stations throughout the state. Other states that allow kWh pricing are California, Colorado, Florida, Hawaii, Illinois, Maryland, Minnesota, New York, Oregon, Virginia and Washington. Read more in the press release below.