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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.

The 10 car brands cheapest to maintain over 10 years

Buying a car can be fun and bring a lot of freedom, but things can go sideways when it comes time for repairs. Some car brands are better than others, however, and Consumer Reports recently ranked the least- and most-expensive brands for owners to repair. There are few surprises on this list, but the cheapest new car and the runner-up might come as a shock. Tesla and Buick were the cheapest new car brands to maintain and repair over 10 years, followed by Toyota, Lincoln, and Ford. 10 car brands cheapest to maintain over the next 10 years: Tesla: $4,035 Buick: $4,900 Toyota: $4,900 Lincoln: $5,040 Ford: $5,400 Chevrolet: $5,550 Hyundai: $5,640 Nissan: $5,700 Mazda: $5,800 Honda: $5,850 Consumer Reports noted that maintenance costs for some brands can look deceiving, as many offer free maintenance for a period after the purchase. New-car warranties also play a role, with the powertrain coverage spanning four or five years and 50,000 or 60,000 miles, depending on the company. It's also worth noting that Tesla only sells EVs, which don't require engine air filters, oil changes, and some other routine maintenance, lowering their average costs. Related: Cheapest electric cars Cheapest SUVs The most expensive brands to maintain might not come as a surprise, but the costs associated with owning them might. Land Rover was the worst, at $19,250 over 10 years, while Porsche came in second at $14,090. Mercedes-Benz’s average costs were $10,525 and AudiÂ’s $9,890. While this suggests that these brands need more frequent repairs over the 10-year period, it also points to higher labor and parts costs for the European automakers. If you own one of the more expensive brands to maintain and youÂ’re worrying as you read this, there are a few things you can do to prolong your vehicleÂ’s life and minimize unnecessary maintenance costs. The first is to follow the automakerÂ’s suggested maintenance periods, changing your oil, rotating tires, and doing all the “boring” stuff before it becomes a problem. ItÂ’s also a good idea to take care with the way you drive, avoiding potholes, accelerating gently, and trying not to abuse your brakes. Finally, donÂ’t modify your vehicle. Car companies spend billions on research and development, and most know better about how a vehicle is meant to operate than you do in your garage with third-party parts. Buick Tesla Auto Repair Driving Maintenance Ownership Consumer Reports

New Forza Horizon 2 pack features Chevy Monte Carlo SS, Audi RS6 Avant [w/video]

The latest car pack for Forza Horizon 2 is hitting Xbox Live today, giving Xbox One owners a shot at six new vehicles that date back to 1970. Leading the charge in the hearts and minds of the Autoblog staff is, of course, the 1988 Chevrolet Monte Carlo SS, one of the most 80s-tastic performance coupes of its time. Chevy's 80s-era NASCAR representative is joined by another General Motors performance two-door, in the form of the 1970 Buick GSX. Complete with a 455-cubic-inch V8, the GSX could best be thought of as the grandpappy to the iconic GNX of the late 1980s. Crossing the pond, we have a trio of offerings from the United Kingdom, with the 2002 Lotus Esprit V8, the redesigned, aluminum-intensive 2014 Land Rover Range Rover Supercharged and finally, the 2015 McLaren 650S. The mid-engined offerings should be a riot on the winding roads of Forza Horizon 2's European locales, while the Range Rover should make cross-country efforts an absolute breeze. Finally, virtual wagon lovers will be able to enjoy the 2015 Audi RS6 Avant and its combination of Quattro all-wheel drive and a twin-turbocharged V8. As per usual, this latest car pack will be available to gamers for $5 while season pass owners will score the sextet of vehicles for free. Scroll down for a video of the new offerings in action, as well as the official press release from Turn 10 Studios. "Forza Horizon 2" NAPA® Chassis Car Pack Now Available The roads and countryside of "Forza Horizon 2" beg for you to leave your mark on them. The NAPA® Chassis Car Pack for "Forza Horizon 2" on Xbox One has arrived, bringing five amazing new cars to blaze trails, break records, or just enjoy a casual cruise in. First off, the new McLaren 650S Coupe's uncanny acceleration and preposterous top speed will satisfy the elitist in you. If you want get away from it all, there's no better way than in the Supercharged Land Rover. Need muscle? Take the classic form of the Buick GSX or the later model Monte Carlo SS for a spin. We all need more wagon in our lives and the Audi RS6 is ready to run around town or serve up surprises at the track. The NAPA® Chassis Car Pack for "Forza Horizon 2" on Xbox One is available today for $5 in the Xbox Live store. Starting today, also available this month for free for all Xbox One players is the 2002 Lotus Esprit V8.