1989 Mazda B2200 Base Standard Cab Pickup 2-door 2.2l 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.

Mazda CX-3 details come to light

Mazda may be working on a new CUV, according to Auto Express. Reportedly called the CX-3, the small crossover will be engineered to take on the likes of the Ford EcoSport and Nissan Juke, but with a focus on fuel efficiency and engaging driving characteristics.
The report names no sources, but says the CX-3 will benefit from a new small-displacement diesel engine. The 1.6-liter oil burner will be joined by a 1.3-liter gasoline engine when the vehicle debuts in 2014. Auto Express reports the model may bow as a front-wheel drive offering only, with no all-wheel-drive option.
And what will it look like? Word has it Mazda will continue to leverage the face we've seen on the current CX-5 (pictured). That means the company's shield grille will make the jump, but with more plastic lower body cladding. Inside, Auto Express says the CX-3 will offer buyers fold-flat rear seating for extra cargo capacity.

Takashi Yamanouchi to retire as Mazda chairman

Takashi Yamanouchi has been with Mazda for a long time. He signed on with the Japanese automaker in April 1967 - one month after graduating from Keio University - and rose through the ranks over the years. By 1996 he was named to the company's board of directors. In 2008 he was named president and CEO, an office he held until 2013, after which he handed over the day-to-day reins to Masamichi Kogai and took up the seat at the head of the board room to serve as the company's chairman. But now, after 47 years working for Mazda, Yamanouchi-san is retiring at the age of 69.
During his tenure as CEO and then as chairman, Yamanouchi was credited with growing Mazda's business despite unfavorable fluctuations in exchange rates, opening the company's first plant in Mexico, and spearheading the development of Mazda's Skyactiv technologies and Kodo design language.
In his place, current vice chairman Seita Kanai will take over as chairman. The changing of the guard will take place after the annual shareholders' meeting on June 24.