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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 GMC Yukon and Yukon XL hit the floor at LA

The middle child of General Motors' trio of truck-based SUVs, the GMC Yukon and long-wheelbase Yukon XL, received their auto show debut at today's 2013 Los Angeles Auto Show. Showing off a bigger, bolder look, particularly on its Denali trim, the Yukon sports prominent chrome grille instantly identifies GMC's new top-end SUV.
The Yukon is will come to market with a pair of engines. The base 5.3-liter V8 pumps out 355 horsepower and 383 pound-feet of torque, while the higher-end models benefit from the same direct-injected, 6.2-liter V8 as the Escalade. That engine makes 420 horsepower and 450 pound-feet of torque, with fuel economy seeing a likely boost thanks to an active fuel management system. Like the Tahoe, Suburban and Escalade, the Yukon takes advantage of a six-speed, column-mounted automatic transmission.
The cabin has seen significant upgrades in terms of materials and technology, with an eight-inch touchscreen display and IntelliLink standard in both Yukon and Yukon Denali. Fold-flat second and third-row seats come standard, while a power option is available, as well. Other techy features include active noise cancellation and standard Bose stereos.

2022 GMC Hummer EV Drivers' Notes: We can't stop talking about Crab Walk

The 2022 GMC Hummer EV Pickup defies reason and sense in most ways. It’s a pickup that weighs over 9,000 pounds, but will do the 0-60 mph sprint in around 3.0 seconds. That sounds like something to be afraid of, but itÂ’s also something you want to experience. ItÂ’s a feat of engineering to make something so heavy move so quickly, but thatÂ’s what the EV revolution has brought upon us. GMC gets the Hummer up and moving as quickly as it does with three electric motors — one in front and two in the rear — that combine for a nutty 1,000 horsepower and 1,200 pound-feet of torque. All of that power is unleashed in Watts To Freedom (WTF) mode. Your seat starts rumbling; the air suspension lowers you to the ground, and an electrifying soundtrack is played over the speakers to match your throttle applications. Launching this supertruck is an event every single time, but due to its extra-high ride height and off-road chops, sending it down your favorite trail is, too. That is, assuming said trail is wide enough to fit the gargantuan Hummer. Those knobby all-terrain tires keep the Hummer from being even mildly entertaining when you explore the truckÂ’s handling Â… but who cares. Our specific tester is an Edition 1 model, which means it comes fully loaded with every option you can imagine. As such, its price is $110,295. For the amount of performance and capability on display here, that number sounds surprisingly right. ItÂ’s also befitting the HummerÂ’s status as a supertruck, wherein you get everything youÂ’d ever want in one go-anywhere do-anything package. Editor-in-Chief Greg Migliore — The Hummer EV is the biggest rock star vehicle IÂ’ve tested in quite some time. Literally. ItÂ’s huge and attracts a ton of deserved attention. The Hummer design is spot-on, especially the grille, lights and flared fenders. It looks the part. For $110,000, it should also have some substance, and this Edition 1 delivers Super Cruise, Watts to Freedom and CrabWalk, not to mention GMCÂ’s MultiPro tailgate and the removable Sky Panel roof. It feels quick, as you would expect something with 1,000 hp to feel, and itÂ’s shockingly maneuverable. I CrabWalked down my street to show off, navigating around things on the diagonal and amusing the neighbors. Just the regular four-wheel-steering function, which functions similar to those offered by various other cars, allows the Hummer to turn easily and confidently.