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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.

Honda to reveal production Civic Type R in Geneva

Honda has been working on its new Civic Type R for some time now. We drove a prototype over a year ago, and have since seen the Japanese hot hatch as a pre-production concept twice now – once in Geneva last year, and again in Paris. But at this year's Geneva Motor Show in March, the Japanese automaker will finally present the production version. Previewed in the teaser video above, the new Civic Type R promises to be among the kings of the hot hatchdom, packing a new 2.0-liter turbocharged VTEC engine and extreme styling. Unfortunately this version won't be coming to the US, but according to recent reports, another version will. Alongside the production pocket rocket, Honda will mark the European debuts of the NSX, Jazz (known to us as the Fit) and the new HR-V subcompact crossover at the Swiss expo, where it will also showcase its new McLaren-Honda F1 racer and the FCV concept. 28.01.2015 Civic Type R and NSX Supercar Lead Host of Premieres From Honda at 2015 Geneva Motor Show - Honda to unveil flagship performance models with world premiere of production Civic Type R and European premiere of NSX - Production models of all-new Jazz and HR-V to be unveiled, as well as first showing in Europe of FCV Concept fuel cell vehicle - 2015 McLaren-Honda F1 racer showcased ahead of season opener Signalling a new era for the Honda brand in Europe, every model in the range will be new or refreshed in 2015, with many being unveiled in production guise for the first time at the Geneva Motor Show in March. Performance cars for road and track, family cars and a fuel cell concept will all feature on the Honda stand. The return of two performance legends Geneva will see the global premiere of the Honda Civic Type R production car. The 'race car for the road' will be the most extreme Type R ever built, with blistering performance and thrilling dynamics that set new standards in the segment. A world-first application of Honda's new 2.0 litre VTEC Turbo engine, aggressive function-led styling and pioneering new chassis technologies combine to deliver one of the most immersive and rewarding driving experiences available in any sector. For fans keenly anticipating the launch of Honda's latest hot hatch icon, a dedicated Type R microsite goes live on 28 January.

Wolff: Honda will emerge as strong F1 force

Mercedes motorsport boss Toto Wolff has no doubts that Honda will make a success of its Formula 1 return, despite the Japanese manufacturer's disappointing time last year. Honda endured a troubled return to F1 in 2015 as it struggled with reliability and a lack of power from its new turbo V6 hybrid engine. But having made gains over the campaign, and a significant revamp of key elements of its power unit over the winter, Wolff thinks that Honda is on course to deliver. "Honda is a huge organization with lots of resource, and they were the power unit with the most impressive development curve through 2015," Wolff said in an interview with his Mercedes team's YouTube channel. "Even if it was a very difficult year for them, it was still very good what they achieved in terms of how they progressed through the season. I have no doubt they will be a strong competitive in the future." Wolff's comments come despite Mercedes engine chief Andy Cowell saying last week that he was not convinced that Honda's 'size zero' concept was the right approach for the current regulations. Manor step As well as predicting good things for Honda in the future, Wolff has predicted promising results for the Mercedes-powered Manor team in 2016. "Manor will make a big step up and not only because of the engine," said Wolff, who helped secure a drive at the Banbury-based team for Mercedes junior driver Pascal Wehrlein. "There is a good bunch of people coming together: impressive individuals, with the right budget and right attitude, and Pascal in the car. "I have confidence that the car and driver will have highlights and be a solid midfield runner." This article by Jonathan Noble originally appeared on Motorsport.com, the world's leader in auto racing news, photos and video. Related Video: