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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 demonstrates new Vehicle-to-Pedestrian safety tech [w/video]

We're fresh from a balmy rooftop deck in downtown Detroit, where Honda held a meeting this week to discuss and demonstrate a few upcoming advanced safety features. A clear focus of the mini event was the company's new Vehicle-to-Pedestrian (V2P) technology, with a suite of Vehicle-to-Motorcycle (V2M) tech a significant second course.
With spirits still high from announcing the 2014 Odyssey as the first minivan to win the Top Safety Pick+ status from IIHS - and after seeing the application of new high-strength-steel sections of the Acura MDX body structure - Honda shared the fruits of some safety tech that is still in the research phase.

Honda Expands Takata Airbag Recall To 5.4M Units In The US

While Honda already announced plans to take its front driver's side Takata airbag inflator recall nationwide, the automaker has now officially reported on the number of affected vehicles and the specific models in need of repair. The expanded campaign covers an estimated 5.4 million units across the US, including those already being fixed under the previous regional actions. That number is an expansion of the five million units initially reported by NHTSA. The affected models under the nationwide recall are the 2001-2007 Accord with a four-cylinder engine, 2001-2002 Accord V6, 2001-2005 Civic, 2002-2006 CR-V, 2003-2011 Element, 2002-2004 Odyssey, 2003-2007 Pilot, 2006 Ridegline, 2003-2006 Acura MDX, 2002-2003 TL and 2002 CL. For customers who expressed concern about their vehicle's safety, Honda had already been replacing the inflators nationwide. It's possible for the inflators in these vehicles to rupture when inflating the airbag, spraying metal fragments at occupants. This problem has been blamed for at least five deaths worldwide and at least 139 reported injuries. In its statement, Honda said that it worked with Takata to test the recalled inflators in the original high-humidity recall regions, and there were no abnormal deployments in these evaluations. Honda will begin notifying owners by "over time," according to its statement. Priority will be put on the geographic areas with the highest risk of ruptures. Those in the original recall region were contacted in September. Earlier in December, Honda partnered with Autoliv to supply the automaker with replacement inflators for this campaign. Autoliv predicted it would take six months for deliveries to start. Takata also increased its production of substitute components. Scroll down to read the company's announcement of this nationwide expansion. Statement by American Honda Regarding National Safety Improvement Campaign: Driver's Front Airbag Inflator Supplied by Takata Dec 8, 2014 - TORRANCE, Calif. Honda will voluntarily expand a regional Safety Improvement Campaign initiated in June 2014 (NHTSA No. 14V-351) into a national Safety Improvement Campaign affecting certain 2001 through 2011 Honda and Acura vehicles in the United States to replace the driver frontal airbag inflator, free of charge. Honda is expanding this Safety Improvement Campaign to address concerns raised by its customers whose vehicles were not included in the regional campaign.