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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 to be diesel-only in Japanese home market

Diesel power. It's not just for Europeans anymore. In fact, when Mazda introduces its new CX-3 compact crossover to its home market of Japan, the model will be exclusively diesel-powered, Reuters says, citing remarks made by Mazda CEO Masamichi Kogai. Consistent with its recent push for better fuel economy, Mazda is embracing diesel power as a way to boost fuel-economy for cars that may be larger than the compact variety. Mazda, which plans to make about 150,000 gas- and diesel-powered CX-3s for global consumption per year, is pricing the diesel CX-3 at about $20,000 in Japan. Diesel sales accounted for less than three percent of new-vehicle sales in Japan last year, so there's a risk to Mazda's strategy. But the automaker, which is the fifth-largest in Japan, says performance and noise (and smoke) issues largely associated with diesel powertrains in the past have largely been eliminated. In all, Mazda expects worldwide sales for the year ending March 31 to rise almost five percent from a year earlier to about 1.4 million units. Mazda showed off an early version of the CX-3 at the Los Angeles Auto Show last November, though North American versions of the model will indeed be gas-powered. Related Video: Featured Gallery 2016 Mazda CX-3: LA 2014 View 17 Photos News Source: Reuters Green Mazda Diesel Vehicles mazda cx-3

Aussie Mazda MX-5 Miata specs leak suggests power loss

Mazda's 2016 MX-5 Miata reveal didn't include much in the way of specifications, but the car's debut seems to have blown the lid off of the rumormill, with the latest word out of Australia including fresh claims of curb weight and engine output.
Before delving into the findings from Motoring.com, we're going to take a moment to find a few grains of salt. It's not that we don't trust the Oz publication, it's just that we wouldn't be surprised to learn their car's specifications will vary from that of our eventual North American car.
Of course, we don't expect the footprint of the new ND model to itself to differ much - it will still be the most compact Miata ever - overall length is expected to check in at just over 154 inches - that's about 1.4 inches shorter than the original NA Miata and over 4 inches shorter than today's NC generation, yet it'll ride atop a longer wheelbase and be slightly wider while sitting lower to the ground.