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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.

2020 Jeep Gladiator pickup revealed: class-leading towing, diesel option, much more

Even though we've all pretty much seen the Jeep Gladiator, it's still exciting to finally see the officially unveiled pickup truck. And it does indeed look like a simple Wrangler pickup. It has fully removable soft and hard tops, doors and a folding windshield. The doors are the same as the Wrangler Unlimited's. It has round headlights, chunky fender flares and nearly the same interior. But it's more than that, blending much of the beloved SUV with some unique features for the pickup truck. For starters, the Gladiator features a new frame not shared with Wrangler that's a whopping 31 inches longer than the one under the Wrangler Unlimited. The wheelbase of the Gladiator is also 19.4 inches longer than a Wrangler Unlimited. The Gladiator continues to use solid front and rear axles, both of which are Dana 44s in two available track widths, but the rear five-link coil suspension is a unique design developed for better ride quality. Propelling this chassis initially will be the 3.6-liter gasoline V6 from the Wrangler with either a six-speed manual or eight-speed automatic transmission. It makes 285 horsepower and 260 pound-feet of torque. In 2020, Jeep will start offering a 3.0-liter turbodiesel V6 that is a thoroughly redesigned version of the engine found in the outgoing Ram EcoDiesel. It's down in power compared to the gas engine at 260 horses, but it more than makes up for it with 442 pound-feet of torque. The only other diesel in this small to midsize truck segment is the Colorado and Canyon diesel trucks. Their diesel four-cylinder engines only make 181 horsepower and 369 pound-feet of torque. All Gladiators with either engine send their power through a selectable part-time four-wheel drive system. Fuel economy for either engine option has yet to be announced. On the subject of capability, the Gladiator has some impressive towing and payload numbers. Maximum towing capacity is 7,650 pounds. That's 150 pounds more than the next best gas-powered truck in this segment, the Ford Ranger. Maximum payload capacity is 1,600 pounds, which isn't the highest in the segment, but falls right in the range of the Ford Ranger and Chevy Colorado gas models. The bed is 5 feet long and is made of steel with an aluminum tailgate. It has various tie-down points and power outlets. Regarding the towing and payload numbers, it should be noted that the top towing capacity is only available on a Sport trim with the 3.6-liter V6, eight-speed automatic and 4.10 final drive ratio.

Chevy Blazer and Easter Jeeps | Autoblog Podcast #576

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and Assistant Editor Zac Palmer. They do a rundown of the latest news, including rumors of the Toyota Tundra and Tacoma sharing a platform, Jeep's insane Easter Safari concepts and an upcoming "entry level" performance Ford Mustang. Then they talk about driving the new Chevrolet Blazer and Jeep Grand Cherokee Trailhawk, and compare driving the Genesis G70 to the Kia Stinger. Finally, they take to Reddit to spend someone's money on a new crossover. Autoblog Podcast #576 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Toyota Tacoma and Tundra to share a platform? Jeep Easter Safari concepts "Entry level" performance Mustang? Cars we're driving: 2019 Chevy Blazer 2019 Jeep Grand Cherokee Trailhawk 2019 Genesis G70 Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: