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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.

Lucid Air and Maserati MC20 unveiled | Autoblog Podcast #644

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd. Before they get to the juicy news of the week, they chat about the cars they've been driving, including a Ford Mustang Shelby GT350R, Audi A6 Allroad, Mazda CX-9 and Kia Niro. It's been a busy week in the news department, with GM investing in Nikola, Lucid Motors launching the Air electric sedan, Maserati unveiling the MC20 mid-engined supercar and a farewell to the Lexus GS. Then they talk about having a newfound respect for the Fox Body Mustang and the Mazda CX-9. Autoblog Podcast #644 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 Cars we're driving 2020 Ford Mustang Shelby GT350R 2020 Audi A6 Allroad 2020 Mazda CX-9 2020 Kia Niro GM buys $2 billion stake in Nikola, will build Badger hydrogen-electric pickup Update: Short-seller accuses Nikola of fraud and Nikola threatens to sue Lucid Air production electric luxury sedan is a dream revealed Lucid Air's modular powertrain opens up serious performance possibilities Lucid Motors teases electric SUV at Air debut Mid-engined, 621-horsepower MC20 inaugurates a new era for Maserati All future Maseratis will borrow styling cues from the MC20  2023 Maserati MC20 Folgore planned with three-motor electric powertrain Lexus GS dead for 2021 Respect to: Fox Body Mustang Mazda CX-9 Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

New Mazda CX-4 teaser shots emerge ahead of Beijing debut

The Kodo styling language seen on last year's Koeru concept seems to translate well to a production car, judging by these teaser images of the upcoming CX-4 from Mazda's Chinese press site. And, as has been seen on several recent Mazdas, concept cars can be quite close to their eventual production versions. An earlier press release implies the CX-4 should be seen as a more coupe-like counterpart to the CX-5, with some of the MX-5's characteristic and often emphasized jinba ittai feel injected into it – if the MX-5 is all about the rider and horse being one, the CX-4 would just be a slightly bigger steed. The 19-inch wheels and LED headlights are some of the more attention-grabbing details on the car. Inside, there's a head-up-display and a MZD connect infotainment screen as seen on other current models. The hardware on the "Exploring-Coupe SUV", as Mazda call it, should match the CX-5: 2.2-liter SKYACTIV-D turbodiesels in some markets, 2.0 and 2.5-liter SKYACTIV-G gasoline engines in most. There will also be a choice of front-wheel-drive or all-wheel-drive. The Beijing Motor Show opens to the public on April 29th, so we won't have to wait a whole lot longer to see the whole thing. Related Video: