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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.

2015 Audi Q3 is ready to woo America's young and upwardly mobile

You can hardly blame Audi for its decision to finally bring its Q3 compact crossover to America, even though it's been on sale in other global markets since 2012. CUVs of all stripes are red hot, and the number of players in the US entry-level premium segment is mushrooming. Rapidly growing Audi simply can't afford to be left out of the discussion in favor of vehicles like the BMW X1, Land Rover Range Rover Evoque, and even small near-luxury entries like the Buick Encore, if only because capturing these customers could result in subsequent sales of more profitable models down the road.
Audi evidently intends to attract these new, younger customers by spoiling them in decidedly unGermanic fashion: by offering lots of standard equipment. Peruse the spec sheet on base models from rivals and you'll see things like manually adjusted faux leather seats, conventional projector headlamps, and little in the way of frills. By comparison, the 2015 Q3 comes with an embarrassment of standard features, including heated and power-articulated leather seats, panoramic moonroof, Xenon headlamps with LED accents and keyless start.
First impressions of the four-cylinder, 200-horsepower Q3 revealed here at the Detroit Auto Show are very positive, with a rakish (if overly familiar) shape and a fair amount of utility with up to 48.2 cubic feet of storage with the rear seats folded. If Audi can price the Q3 similarly to the entry-level BMW X1 sDrive28i ($31,825 delivered) when it arrives this fall, we think it'll sell like hotcakes - just like its Q5 big brother.

Believing in evolution | 2018 Audi S4 and S5 Second Drive

Sales figures for cars in America have plummeted. In a robust overall market, where vehicle purchases have reached record-setting levels, car sales fell by an incredible 9 percent last year alone. SUVs and crossovers are drinking their milkshake, now accounting for nearly two in every three purchases, a profound shift from cars' majority dominance as recently as 2012. Audi's all-new A4 sedan was a bright spot in the brand's car portfolio in 2016, increasing by 16 percent, but A6 and A8 sales fell 18 and 17 percent respectively, and the A5 coupe's sales tanked by a shocking 35 percent. Mitsubishi sold more than three times as many Outlanders last year as Audi did A5s. Were you even aware that Mitsubishi still sold vehicles in America? This trend is expected to continue, perhaps even escalate. But Audi refuses to give up on sedans and coupes. Credit the Teutonic monomania that requires a tit-for-tat escalation and diversification into every existing and invented market segment in which its rivals from BMW and Mercedes compete or don't. (An eminently sales-resistant five-door hatchback, the A5 Sportback, joins Audi's US car lineup in a couple months.) Whatever the instigation, we appreciate it. Cars are an intrinsically more efficient, and more fun, way to move people and goods around compared to SUVs. And Audi's new S4 sedan and S5 coupe prove that we live in a golden age of cars, especially enthusiast cars. At first glance, you might not notice much of a difference between the outgoing cars and these all-new models. Part of this is because the design is extremely evolutionary – though when you start with a pair of models that so elegantly nailed their respective categories, it makes sense not to smash the mold. Closer examination will reveal additional facets, creases, and muscularity in the revised designs. It will also reveal greater differentiation between the related pair, especially around the headlamps, grille, and hood, all of which are meant to be more sporting and exclusive on the two-door, a play to fit with its more sporting and exclusive nature. You might place your faith in other more magical ideas, but we're believers in evolution. The interiors of the cars are similarly evolutionary, and also far more similar. This is not a bad thing. Audi continues to excel in cockpit innovation. We credit it with reinventing the dashboard with the amorphously shaped LCD-screened Virtual Cockpit.