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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 to relocate its US offices into Irvine's tallest building

Mazda is the latest foreign automaker to be moving its North American headquarters. Only this time, it's not moving further south. Instead, the Japanese automaker is simply relocating to another facility in Irvine, CA. In a little over a year from now, Mazda North American Operations will move to 200 Spectrum Center Drive (pictured in the rendering at right), taking up five of the 21 floors in Orange County's tallest building for a total of over 100,000 square feet of office space. It'll also take up half the lobby with vehicles on display and the exclusive naming rights on the top of the building. The facility, designed by Pei Cobb Freed & Partners, boasts full glass walls from floor to ten-foot ceiling for uninterrupted 360-degree views. Mazda has been in its current US headquarters at 7755 Irvine Center Drive (pictured above) since 1987. The five-story building was specifically constructed for the purpose and was the tallest in Irvine at the time. Prior to that it was based in Compton from 1970. The move to the new facility is scheduled to take place in February, 2017. Mazda's announcement marks only the most recent of foreign automakers to relocate their North American headquarters. Toyota is moving to Texas, Subaru to Camden, Lotus to Ann Arbor, Daimler to Farmington Hills, and Mercedes-Benz to Atlanta (where Porsche recently relocated, as well). Cadillac also recently moved from GM's Renaissance Center in downtown Detroit to its new headquarters in New York. Hyundai and Kia also quarter their North American operations in Irvine, as does Aston Martin. Meanwhile Honda and Toyota (for the time being) are based less than an hour away in Torrance, and Mitsubishi halfway in between in Cypress. Though they no longer sell passenger cars in North America, Isuzu and Suzuki still operate their US bases in SoCal as well, in Anaheim and Brea, respectively – all municipalities located just south of Los Angeles. Nissan and Subaru also base their US operations outside of California, with head offices in Tennessee and New Jersey, respectively. Related Video: Mazda Set To Relocate North American Headquarters in 2017 - With 50 years of roots in Southern Calif., Irvine will remain 'home' for Mazda - IRVINE, Calif., Jan. 11, 2016 /PRNewswire/ -- Mazda North American Operations (MNAO) has spent the last three years bringing all-new, upscale vehicles to the U.S. and earning outstanding critical acclaim in the process.

Lexus, Mazda win KBB 5-Year Cost To Own Awards

We focus a lot on what new cars are like to drive, but it's difficult on a one-week loan to really get a sense of what a car is like to live with. Sure, we try to recreate that sense with our long-term vehicles, but even after a year, it's impossible to know fully learn about a car, particularly in terms of reliability and cost of repairs. For 2014 model year vehicles, Kelley Blue Book has put together a list of the most affordable vehicles over a five-year period.
At the tippy top of the list are Mazda and Lexus, with the Zoom-Zoom automaker winning the award for best non-luxury brand. Lexus, meanwhile, was the most affordable luxury marque over a five-year period. It's interesting to note, though, that not a single Mazda won its segment in this year's awards.
General Motors did quite well, taking eight segments, including both the subcompact and plug-in segments, with the gas-powered Chevrolet Spark and Spark EV. The Chevy Camaro SS and ZL1 took the high-performance car award. Toyota was well represented, with five winners split between the main brand (Corolla, Prius C and Tacoma) and Lexus (LS and RX).