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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.

Santa swaps his sleigh for a Ferrari-powered Toyota

A Ferrari-powered Toyota 86 is sure to garner a bit of attention, as well it should. We've been paying attention throughout this build, so it should be no surprise then that Santa did as well. He's ditched his red sleigh for the Gumout GT4586 in this video. If you've been following along, you know that Ryan Tuerck and Gumout built this completely bonkers machine that's far more exciting than some previous Japanese/Italian mash-up automobiles. Donut Media has been doing their part to document and promote every stage of the process. This new video is filled with the gratuitous amounts of lights, noise, and tire smoke that Donut is known for. We don't know the conversion from horsepower to reindeerpower, but the GT4586 should provide plenty of oomph for Santa's Christmas trek. Related Video: News Source: YouTube Humor Ferrari Scion Toyota Coupe Special and Limited Editions Performance Videos toyota 86 engine swap

Toyota pimps out Esquire van for Japanese businessmen [w/video]

A few months back we reported on a dealership owner in Japan who was petitioning Toyota to make a luxury van. The problem, he reasoned, was that he couldn't take as many friends, colleagues and clients around with him in his Lexus LS, and his Toyota Alphard van wasn't luxurious enough. Well, it seems like he wasn't alone, and Toyota has listened.
The Japanese auto giant has just revealed the Esquire, a new luxury van designed with just such customers in mind. It's significantly smaller than the Sienna we get in America, smaller than the aforementioned Alphard and about the same size as (this writer's favorite) the JDM Noah van (on which we gather it's based). But what sets the Esquire apart is its upscale appearance.
The boxy van is distinguished by its dominant T-shaped chrome grille with a unique emblem that encompasses a shield, sword, "the collar of a gentleman's suit" and the letters Esq. The flank is characterized by a strong beltline with chrome lower window frame and an expansive greenhouse with tinted rear glass. Inside the flexible cabin you'll find accommodation for seven or eight passengers (depending on specification), synthetic leather upholstery and wood and metallic trim. There are even wheelchair-enabled models on offer as well.