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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.

IIHS: High numbers of drivers treat partially automated cars as fully self-driving

WASHINGTON — Drivers using advanced driver assistance systems like Tesla Autopilot or General Motors Super Cruise often treat their vehicles as fully self-driving despite warnings, a new study has found. The Insurance Institute for Highway Safety (IIHS), an industry funded group that prods automakers to make safer vehicles, said on Tuesday a survey found regular users of Super Cruise, Nissan/Infiniti ProPILOT Assist and Tesla Autopilot "said they were more likely to perform non-driving-related activities like eating or texting while using their partial automation systems than while driving unassisted." The IIHS study of 600 active users found 53% of Super Cruise, 42% of Autopilot and 12% of ProPILOT Assist owners "said that they were comfortable treating their vehicles as fully self-driving." About 40% of users of Autopilot and Super Cruise — two systems with lockout features for failing to pay attention — reported systems had at some point switched off while they were driving and would not reactivate. "The big-picture message here is that the early adopters of these systems still have a poor understanding of the technologyÂ’s limits," said IIHS President David Harkey. The study comes as the National Highway Traffic Safety Administration (NHTSA) is scrutinizing Autopilot crashes. Since 2016, the NHTSA has opened 37 special investigations involving 18 deaths in crashes involving Tesla vehicles and where systems like Autopilot were suspected of use. Tesla did not respond to requests for comment. Tesla says Autopilot does not make vehicles autonomous and is intended for use with a fully attentive driver who is prepared to take over. GM, which in August said owners could use Super Cruise on 400,000 miles (643,740 km) of North American roads and plans to offer Super Cruise on 22 models by the end of 2023, did not immediately comment. IIHS said advertisements for Super Cruise focus on hands-free capabilities while Autopilot evokes the name used in passenger airplanes and "implies TeslaÂ’s system is more capable than it really is." IIHS in contrast noted ProPILOT Assist "suggests that itÂ’s an assistance feature, rather than a replacement for the driver." NHTSA and automakers say none of the systems make vehicles autonomous. Nissan said its name "is clearly communicating ProPILOT Assist as a system to aid the driver, and it requires hands-on operation.

2014 Chevy Silverado priced from *$24,585, V8 gets better economy than Ford EcoBoost V6

Chevrolet has thrown down the next hand in the pickup truck poker wars and revealed at least a couple of potential aces - depending on which numbers matter most to you. The 2014 2014 Silverado 1500 with its 5.3-liter EcoTec3 V8 gets 335 horsepower and 383 pound-feet of torque, is mated to a six-speed automatic, can tow 11,500 pounds with the optional Max Trailer Package and costs the same as the outgoing Silverado, $24,585 (*including $995 destination fee). Chevy says the Silverado also stands atop the fuel economy charts when comparing any competitor with a V8 engine - and some competitors with V6 engines. The two-wheel drive model returns 16 miles per gallon city, 23 mpg highway, 19 mpg combined in two-wheel drive guise and 16 mpg city, 22 mpg highway and 18 mpg combined as a four-wheel drive.
For context around those numbers, the most fuel efficient V8-powered 2013 Ford F-150 pickups lose about two mpg in every metric compared to the Silverado, the 3.5-liter V6 EcoBoost returning 16 city, 18 highway and 22 combined in two-wheel drive. However, that EcoBoost does have 365 hp and 420 lb-ft of torque. You can get a Ram 1500 with a 3.6-liter V6 that gets 25 mpg highway, but it has 305 hp and 269 lb-ft of torque. The 2013 Ram with the 5.7-liter Hemi V8 and its 395 hp and 407 lb-ft drops one mpg in every category to the Silverado. Its tow rating is 200 pounds beyond its nearest competitor, the F-150 with the Max Trailer Tow Package.
Elsewhere, the new Silverado gets a quieter cab with a redesigned interior, a new bed with improved load-management possibilities, disc brakes all around, tweaked steering and suspension, along with free standard scheduled maintenance for two years or 24,000 miles.