1991 Honda Crx Base Coupe 2-door 1.5l on 2040-cars

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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.

New Honda Fit ousts Toyota Prius as Japan's top-selling car last month

The Toyota Camry may lose its title as the best-selling car in the US next year and the Honda Civic has already managed to outsell the Toyota Corolla to become the top-selling compact in the US, but it looks like the domination woes have just hit Toyota on its own turf. Bloomberg reports that the all-new Honda Fit carries the distinction of being the best-selling car in Japan for October - the Fit's first full month on sale - outselling the popular Toyota Prius and Toyota Aqua (our Toyota Prius C).
Unlike the Camry's 16-year reign on US car sales, Japan's race seems a little tighter with the Fit most recently topping the sales charts in May 2011. Since then, though, the two Toyota hybrids have been the top two cars in for sale in Japan. The US won't get the next-gen Fit until the third quarter of 2014, but this new hatchback should be another solid option for buyers in the increasingly popular subcompact segment.

Happy 40th birthday, Honda Accord!

The Honda Accord exemplifies the idea that if you make something great, people will flock to it. This is a car that has always offered something for everyone – quality, fuel economy, value, comfort. But why we really love the Accord is because, as former Car and Driver Editor in Chief Csaba Csere says in the video above, "it always drove a little bit better than the competition." Today the Accord turns 40 years old. Over the past four decades Honda sold more than 12.7 million of them, making its iconic sedan the best-selling car in America during that time frame. Honda likes to point out that the Accord is still young at heart, as it's the most popular sedan with the under-35 crowd. View 29 Photos Like most people, the Accord has grown larger and heavier through the years. But the appeal remains strong. The current Accord is one of our favorite family sedans, and a target that the competition rarely hits. It's the car that's synonymous with Honda in America, and in fact the first car built here when the Japanese company started production in Ohio in 1982. Honda has taken a look back at the car with the video above, which chronicles the Accord's history. The video below is a nice (if cheesy) comparison of the original 1976 model and the 2016 Accord Hybrid. And below that there's a neat infographic that compares those two cars as well as what was going on in the world in 1976 versus now. So happy birthday, Accord. We hope we're still going as strong as you when we get to your age.