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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.

We really want to use an eCrate to restomod an old GM car. Here's what we'd build

You hopefully saw the news today of GM's introduction of its Connect and Cruise eCrate motor and battery package, which effectively makes the Bolt's electric motor, battery pack and myriad other elements available to, ah, bolt into a different vehicle. It's the same concept as installing a gasoline-powered crate motor into a classic car, but with electricity and stuff.  This, of course, got us thinking about what we'd stuff the eCrate into. Before we got too ahead of ourselves, however, we discovered that the eCrate battery pack is literally the Bolt EV pack in not only capacity but size and shape. In other words, you need to have enough space in the vehicle to place and/or stuff roughly 60% of a Chevy Bolt's length. It's not a big car, but that's still an awful lot of real estate. There's a reason GM chose to simply plop the pack into the bed and cargo area of old full-size SUVs. Well that, and having a rear suspension beefy enough to handle about 1,000 pounds of batteries.  So after that buzz kill, we still wanted to peruse the GM back catalog for classics we'd love to see transformed into an electric restomod that might be able to swallow all that battery ... maybe ... possibly ... whatever, saws and blow torches exist for a reason.  1971 Buick Riviera Consumer Editor Jeremy Korzeniewski: If you’re going to build an electric conversion, why not do it with style? ThatÂ’s why IÂ’m choosing a 1971-1973 Buick Riviera. You know, the one with the big glass boat-tail rear end that ends in a pointy V. Being a rather large vehicle with a big sloping fastback shape, IÂ’m hoping thereÂ’s enough room in the trunk and back seat to pack in the requisite battery pack. That would likely require cutting away some of the metal bulkhead that supports the rear seatback, but not so much that a wee bit of structural bracing couldnÂ’t shore things up. The big 455-cubic-inch Buick V8 up front will obviously have to go. Remember, this was the 1970s, so despite all that displacement, the Riviera only had around 250 horsepower (depending on the year and the trim level). So the electric motorÂ’s 200 horsepower and 266 pound-feet of torque ought to work as an acceptable replacement.   1982 Chevrolet S10 Associate Editor Byron Hurd: OK, so the name "E-10" is already taken by a completely different truck, but let's not let labels get in the way of a fun idea.

Buick teases 'groovy' EV concept to debut this summer

Buick has been taking its slow, deliberate steps toward joining the General Motors EV club in the U.S. There was the Electra concept shown at Auto Shanghai way back in 2020. There was the mystery Buick fastback concept that showed up in GM's promotional vid for the Ultifi software platform in October 2021. Then GM applied to reserve the Electra name in Canada in December, and last month applied to reserve the Velite name in the U.S. Now Buick drops this, a tease for an electric vehicle that will debut this summer. The surprise came in the midst of call-and-response tweets between GM and its brands, the mothership asking, "Hey @Cadillac @GMC @Chevrolet @Buick @GMFleet @BrightDrop — your new boss needs a new ride. Which one of you has the best vehicle to serve my EV-il needs?" The Tri-Shield brand responded with this image and the caption, "WeÂ’re fans of all @GM EVs, but this summer we will show you our dreams of a groovy electric future. ? WeÂ’re sure a mastermind who makes his own quasi-futuristic clothes will be impressed." WeÂ’re fans of all @GM EVs, but this summer we will show you our dreams of a groovy electric future. ? WeÂ’re sure a mastermind who makes his own quasi-futuristic clothes will be impressed. ? https://t.co/7r3Czy8CXV pic.twitter.com/e1XzwFEVsJ — Buick (@Buick) February 13, 2022 The "mastermind"-slash-seamstress reference is looking at GM's villainous Super Bowl ad featuring Dr. Evil, his closest councilors, his son and Baby Me (R.I.P. Verne Troyer). GM's got 30 EVs on the way by 2025 for global markets, and it has begun to fill in the blanks in the U.S. for all its brands but Buick. Based on the automaker's 2019 Sustainability Report, we're expecting a Buick crossover and an SUV by 2025. If the tweeted image is of a people-hauler, it's the swoopiest crossover we've laid eyes on in some time. The rune-like DRL topped by brightwork and chiseled clear panels sits at the corner of a hood that looks like it could have been borrowed from a C7 Corvette. Frankly, this reminds us more of the Buick-branded fastback sedan in the Ultifi video than anything else we've seen. And we have no problem with any of this. As for the Velite trademark application, that could be Buick transplanting a little bit more of its Chinese operations to the U.S. Buick sells a Velite 7 electric crossover, Velite 6 EV and PHEV crossovers, and a Velite 5 PHEV sedan in China.