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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.

GM's Ultium EV platform finally shows up in Q3 sales numbers

General Motors has heralded its Ultium battery-electric platform as the future of its passenger car and truck lineup, but for the first two years of its existence, its impact on the marketplace has been virtually nonexistent. Well, that finally changed in the third quarter of 2023, and while the cars based on this architecture don't represent anywhere near the volume of GM's broader combustion portfolio, we're reaching a point where Ultium products are finally in view (and in the hands) of real-world shoppers. At this point, five U.S.-market Ultium models are in production: the GMC Hummer EV, Cadillac Lyriq, Chevrolet Blazer & Silverado EV, and BrightDrop Zevo 600. If you're not familiar with that last one, that's OK; it's a commercial product that you likely won't see on the road for some time. Together, these four combined for 4,257 sales in the third quarter alone — up from 2,663 for the entire first half of the year. While that may not seem like a significant uptick when viewed from altitude, the quarter-to-quarter numbers paint a clearer picture.  Let's toss out the stragglers first. The Chevy Blazer EV, and Silverado EV for example, are barely in production. GM delivered 19 Blazers and 18 Silverados in the third quarter and that's the entirety of their production runs so far. Likewise, GM's BrightDrop Zevo 600 delivery van effectively exists apart from the consumer marketplace, so its contribution of just 35 units can be set aside too. That leaves us the two you've heard of: the GMC Hummer EV and Cadillac Lyriq — models with high sticker prices and long reservation queues.  Through the second quarter (remember, we're talking six months here), GMC sold 49 Hummer EVs. No typo. In the three months that made up the third quarter, GM moved 1,167 of them. Not only is that a dramatic improvement over the first half, but it's more Hummers than GMC sold in the entirety of 2022 (854). Lyriq's improvement was less eye-popping on paper, but after moving just 122 total units in 2022 and 2,013 of them in the first half of 2023, Cadillac managed to up that figure to 3,018 units in the third quarter alone.  GM is betting its short-term EV future on the Ultium platform, so these trends need to continue if that's going to be a profitable wager.

2024 Buick Encore GX Cupholder Mega Test: Will the Nalgene bottle fit?

I recently reviewed the 2024 Buick Encore GX in its new Avenir trim, appreciating the updates from its mid-cycle refresh and assessing its comfortable driving style. What I didn't dive into, however, were the cupholders. Specifically, I wanted to know if it could accommodate in a convenient location what is my favorite hydration facilitator, a 32-ounce Nalgene water bottle. This, like other oversized water bottles, often can't find a cupholder that will fit it. Its a particularly American problem (we're more obsessed with cupholders than other markets), so can this American budget-luxury crossover satisfy my own obsession with this big, dumb bottle? Let's find out. Ideally, we could put it in the front cupholders. Few vehicles' cupholders are big enough, though, with the Chrysler Pacifica, Lexus GX and Toyota 4Runner being notable exceptions. We can't add the Encore to that list, unfortunately. The cupholders are far too small. Usually, the second best option, if possible, is to put it in the front door pocket. Voila! It fits. No Nalgene rolling around on the front passenger seat in this Buick. But what about in back? The center armrest in the Encore GX is a fine place to rest one's elbow, but what about a big-ass bottle of water? Alas, the rear cupholders are equally dinky as the ones up front, which is often the case. The last-gen Toyota Tundra was an exception, where the rear cupholders were bigger than those up front which is super weird to me. I'mm looking forward to see what's what with the new Tundra. The rear door pockets are much smaller than those up front. This does not look promising. It's just big enough that I can wedge the bottom of the bottle inside, but not big enough to keep it there when the car is in motion. Sorry backseaters, you'd better settle for your lesser bottles, suckers. I had almost overlooked this little cubby in between the front cupholders and center console armrest. It's an odd shape, but with some luck, the Nalgene will fit. That's the ticket! This is even better than putting it in the door. It's not the most secure fit, but it's not so huge a space that the bottle knocks around and falls over with every input to the steering wheel or pedals. This ended up being where I put the Nalgene every time I drove the Encore GX, and, subsequently, I remained content and adequately hydrated. And the cupholders remained open for alternative beverages. Interested in more than just the cupholders?