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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.

J.D. Power study sees new car dependability problems increase for first time since 1998

For the first time since 1998, J.D. Power and Associates says its data shows that the average number of problems per 100 cars has increased. The finding is the result of the firm's much-touted annual Vehicle Dependability Study, which charts incidents of problems in new vehicle purchases over three years from 41,000 respondents.
Looking at first-owner cars from the 2011 model year, the study found an average of 133 problems per 100 cars (PP100, for short), up 6 percent from 126 PP100 in last year's study, which covered 2010 model-year vehicles. Disturbingly, the bulk of the increase is being attributed to engine and transmission problems, with a 6 PP100 boost.
Interestingly, JDP notes that "the decline in quality is particularly acute for vehicles with four-cylinder engines, where problem levels increase by nearly 10 PP100." Its findings also noticed that large diesel engines also tended to be more problematic than most five- and six-cylinder engines.

2021 Buick Envision First Drive | A successful sequel

The 2021 Buick Envision inaugurates the second generation of what GM's premium division hopes will become the staple of its all-crossover lineup. The original Envision, while reasonably competent, suffered from ungainly styling and struggled to separate itself from its reputation as the built-in-China Buick. Bundle that with a brand that has (at best) an on-again, off-again relationship with being interesting and you have a recipe for “Who cares?” No longer, says Buick. While itÂ’s still assembled in China, the 2021 Envision gets a new platform, a new powertrain, and a complete styling overhaul. Feeling a little deja vu? ThatÂ’s reasonable. Buick gave us a promising first look at the new Envision last summer, but thanks to, well, you know, 2020, weÂ’re only now getting our hands on the final product, and if we were intrigued in June, weÂ’re impressed in February. BuickÂ’s first attempt at a compact CUV was not particularly impressive, especially when it came to design. The Equinox-in-a-dinner-jacket thing never really worked and weÂ’re happy to say that the second effort is a huge improvement. The new look is genuinely attractive. Like the Enclave, the Envision borrows cues from the Avenir concept whose name BuickÂ’s product planners appropriated to denote the brandÂ’s top-trim variants. It works. Power comes from a 2.0-liter, turbocharged inline-four producing 228 horsepower and 258 pound-feet of torque as its only available engine. Front-wheel drive is standard; a twin-clutch all-wheel-drive system is optional. Both setups utilize a nine-speed automatic transmission. Your author managed an average of 23 mpg over the course of a 60-mile test loop against EPA estimates of 22 mpg city, 29 mpg highway and 25 mpg combined. FWD models are rated at 24/31/26, respectively.  Size-wise, the Envision is a bit of an odd duck. One could teach an undergrad course on GMÂ’s two-row crossover ecosystem, but suffice it to say that itÂ’s a bit more closely related to the Chevrolet Blazer than it is to the Equinox this time around, despite being closer in size to the latter. Within the luxury realm, its length and wheelbase are a few inches shorter than those of larger compact models like the Volvo XC60, Acura RDX and BMW X3, but its rear legroom is greater than them all. It's actually closer in that measurement to the midsize Lincoln Nautilus.