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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 wins Commercial of the Decade, but not for the ad you think [w/VIDEO]

Honda's Commercial of the Decade: "Grrr" - Click above to watch video
The mad men at Adweek recently voted for the Commercial of the Decade (Super Bowl commercials not included) and Honda took top honors over memorable ads from the last ten years by companies like Nike, Budweiser and Sony. That's not a big surprise considering Honda often puts a huge amount of effort into its on-air spots. However, the Japanese automaker didn't win for the commercial you might have expected: "Cog." Though Honda's famous commercial that breaks down a European Accord Tourer into a Rube Goldberg-esque machine was also a finalist, it was beaten by another Honda commercial called "Grrr" that's narrated by Garrison Keillor of all people. You've probably never seen it, but you can after the jump.
Volkswagen also made the list of finalists, but the particular ad chosen out of all the comical VW ads we've seen was unexpected as well. Most surprising carmaker with a commercial in the finals: Saturn. Who knew...

Honda releases H2O brand bottled water to promote FCX Clarity

Remember when Hollywood stars Diane Kruger (Inglourious Basterds) and Joshua Jackson (Fringe) took a Mercedes-Benz B-Class F-Cell into Death Valley and "survived" by drinking water from the car's tailpipe? Honda has taken that idea into movie theaters in Australia. The idea, but not fuel cell water itself. Honda has created a bottled water brande called H2O, and it's meant to promote the hydrogen-powered Honda FCX Clarity as part of Honda's "clever thinking" campaign. The headline message, just as it was for Mercedes, is that a hydrogen fuel cell car emits nothing but water vapor, which is actually safe to drink. To give movie fans a hands-on experience, Honda Australia filled a number of Palace Cinemas movie theaters with free disposable bottles of H2O water. Of course, since there are only a handful of FCX Clarity vehicles in the world today and it would take a lot of driving to fill up that many bottles, Honda admits that, "if you're holding a bottle of our specially produced H2O water in your hand right now, you've been drinking plain old spring water. If you want to taste the real thing, you'll have to travel to California, Japan or the UK where the FCX is currently available." Of course, why anyone would want to associate themselves with the unending waste that is bottle water, a product that has not proven itself to be any better than good tap water, is beyond us. But that's what Honda is doing, as you can see in the promotional video about the stunt below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.