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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.

Hyundai, Mazda and Ford offering support to victims of Colorado flooding

Hyundai, Mazda and Ford have initiated programs to aid victims of the recent floods across Colorado. Hyundai is stepping in to give help directly to drivers, offering those with flood-damaged vehicles a $750 credit on a new Hyundai. "At this stressful time, the last thing flood victims should be concerned with is how they are going to replace their water-damaged or destroyed vehicles," Dave Zuchowski, executive vice president of Hyundai's American sales, said.
The Hyundai program will run from September 18 through the end of October, and will cover all citizens in counties declared disaster areas by FEMA. Residents will need to provide proof of residency and a letter from their insurance company describing the damage to their vehicle.
Mazda, on Friday, announced that it'd be donating $25,000 to the American Red Cross and a further $15,000 to the Humane Society of Boulder Valley, in the name of disaster relief. Mazda's President and CEO, Jim O'Sullivan, said, "The flooding across the states of Colorado, Texas and New Mexico has been absolutely devastating for not only the people living there but their four-legged loved ones as well. Mazda hopes that those in need can get the help they deserve through such great organizations as American Red Cross and Humane Society of Boulder Valley."

Mazda RX-9 could be a 400-hp, 2,900-pound coupe due in 2019

Mazda poured fuel on the white-hot rumors of an RX-8 successor with the RX-Vision earlier this year. The long, low rotary-powered coupe was lovely, but as we reported, it wasn't going to happen. But now, there's another chapter in the RX rumormill, and like overnight parts, it's from Japan. Japanese site Holiday Auto claims that Mazda will debut the so-called RX-9 at the 2019 Tokyo Motor Show. But before that happens, the Zoom-Zoom company will preview the production model with a concept at next year's Tokyo Motor Show. 2017 is important, marking 50 years since Felix Wankel had the screwy idea for his eponymous engine and 40 years after the company's first rotary powered car, the Cosmo, hit the market. Exciting as Holiday Auto's report is, the stats on this long-rumored car are better – via Google Translate, the Japanese site claims the RX-9 will use a 1.6-liter, two-rotor Wankel with a single turbocharger. It's good for around 400 horsepower. Holiday Auto isn't exaggerating when it claims the car could have "bike-like acceleration." As with other Mazda products, a low curb weight is key, which is why engineers are targeting a meager 1,300 kilograms (2,866 pounds) for the production model – that weight should be pretty evenly split, too, thanks to a rear transaxle. So yes, the RX-9 will be stupid fast and extremely agile. But it will come at a cost. And by cost, we mean that the RX-9 will start just south of eight million yen. That's $79,641 at today's rates, or enough to purchase about 2.5 RX-8 R3s, the hardcore handling trim of Mazda's last-gen rotary car. And if Mazda follows Nissan's GT-R pricing model, we'll see a six-figure RX-9 by 2025. When it comes to Mazda rotary rumors, grains of salt are a must. That's doubly true when we're talking about a possible concept that won't debut for over a year. But with the RX-Vision, Mazda showed that it hasn't abandoned rotary power, and with 2017 marking a big anniversary for the technology, it seems unlikely that the company will let the date pass without some acknowledgement. A concept car seems like a solid bet. Related Video: