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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 prices 2016 CX-3 from $20,840

Been eager to put your cash down on the hood of a new 2016 Mazda CX-3, but haven't known just how much to take out from the bank? You can call your branch manager now, because Mazda has released pricing details for its new subcompact crossover. The MSRP for the new CX-3 will start out at $20,840, including an $880 destination charge. (Alaskan buyers can expect to pay an extra $45 on top.) That's for the base-level Sport model with front-wheel drive. Tack on another $1,250 for all-wheel drive if you think you'll need the extra traction, but either way it'll be channeling 146 horsepower and just as much torque from a 2.0-liter inline-four through a six-speed automatic transmission. Step up to the Touring model and the retail price jumps up to $22,840 (with delivery), plus the same $1,250 for the AWD option. There's a Touring Technology package available for another $1,410 that includes moonroof, satellite radio, and cargo cover. Finally at the top of the line is the CX-3 Grand Touring for $25,870 (delivered), available with that same i-Activ all-wheel drive system, and an i-Activsense package that throws in an array of electronic conveniences and safety systems for another $1,920. So while you can get away with paying as little as $20,840 for the base model, a fully loaded CX-3 can run you as much as $29,040. Related Video: All-New 2016 Mazda CX-3 Subcompact Crossover MSRP[1] to start from $19,960 - Latest evolution of Mazda's signature KODO design comes embodied in crossover available with premium, class-exclusive features and class-leading fuel economy - IRVINE, Calif., July 16, 2015 /PRNewswire/ -- New vehicle segments don't come around often. So when Mazda had the opportunity to create its very own subcompact crossover to tackle the urban sprawl, as well as the road less-traveled, it did so the only way it would – with the fun-to-drive, stylish and upscale 2016 Mazda CX-3. 2016 Mazda CX-3 Subcompact Crossover Priced From $19,960 Nearing its mid-August expected on-sale date, Mazda North American Operations (MNAO) has released full pricing for its entry-level CUV offering, starting at an MSRP2 of $19,960 for the entry-level CX-3 Sport with front-wheel drive. As a $1,250 upgrade, buyers can select CX-3 Sport with Mazda's predictive i-ACTIV all-wheel drive that takes temperature, road conditions, steering-angle and weather into account, among other factors, to help optimize to which wheels engine power is routed for maximum performance and stability.

Wards names its 2015 10 Best Interiors list

Wards Automotive has named the winners of its 10 Best Interior awards, covering a wide but affordable array of vehicles. Where last year's list contained two six-figure vehicles, including the $372,800 Rolls-Royce Wraith, this year's is, well, a whole lot more reasonable. The publication lists the Mercedes-Benz C400 at $65,000 (which seems off), making it the most expensive vehicle here. That said, we'd argue that the entire C-Class line deserves to make this year's list, owing to its varied and high-quality selection of materials. The other vehicle to break the $60,000 mark, meanwhile, is the $60,675 Ford F-150 King Ranch, which has 327,000 pounds of leather lining its interior. Only one other German car, the BMW i3, and one other pickup truck, the GMC Canyon, managed to make this year's list. Here's the full list of this year's winners: 2014 BMW i3 ($52,550) 2015 Chrysler 300C Platinum ($51,175) 2015 Ford F-150 King Ranch ($60,675) 2015 GMC Canyon SLT ($40,465) 2015 Honda Fit EX-L ($21,590) 2015 Jeep Renegade Limited ($33,205) 2015 Kia Sedona SXL ($43,295) 2016 Mazda6 Grand Touring ($33,395) 2015 Mercedes C400 ($65,000) 2015 Nissan Murano SL ($41,905) See what we mean about the mainstream vehicles? Not only is there a distinct lack of luxury brands, it's the price of some of the vehicles that surprise. The Honda Fit, Jeep Renegade and Mazda6 are very reasonably priced, especially when you compare Wards price with the starting price. The Renegade Limited starts at less than $25,000, the Mazda at less than $22K and the Fit at under $16,000. Head over to Wards for a more detailed explanation of why each vehicle won. Featured Gallery 2015 Ward's Automotive 10 Best Interiors View 10 Photos News Source: Wards Automotive BMW Chrysler Ford GMC Honda Jeep Kia Mazda Mercedes-Benz Nissan Truck Crossover Hatchback Sedan nissan murano gmc canyon Interior jeep renegade WardsAuto kia sedona wards 10 best interiors mercedes c400