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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.

Mary Barra thinks GM is a leader in autonomous tech

Saying General Motors is "among the leaders" in autonomous vehicle technology, CEO Mary Barra rapped about her company's driverless work in an interview with USA Today. Barra covered a number of topics, including well-known efforts, like Cadillac's upcoming Super Cruise technology, as well as hinting at "a lot of efforts that are confidential." "Things are moving quickly in autonomous [cars] because there's so many different pathways and the standards aren't even set. A lot of people can claim leads because people are making advancements in different areas," Barra said. "Next year we're going to have Super Cruise on one of our Cadillacs. On highways you'll be able to take your hands off the wheel and feet off the pedals – with a very creative way to make sure the driver is alert and involved in the driving process." As for those "confidential" efforts, feel free to speculate. GM has recently confirmed that it'd be running autonomous Volts at its Warren, MI tech center, which certainly indicates that the company is playing with much more than Super Cruise. GM will need to continue to embrace autonomous driving, owing to both traditional competitors like Toyota, as well as non-traditional opposition, like Google and Apple. Speaking of its competition from Silicon Valley, Barra was asked about two of the region's biggest names – Apple's Tim Cook and Tesla boss Elon Musk. "I have tremendous respect for Tim Cook, and I don't really think he needs advice from me," Barra told USA Today with a laugh. And when asked about Apple's future as a "viable competitor," she said, "I have no insights other than what I read in the papers. But it would be foolish for me not to assume that they're going to." As for Mr. Musk's openness about future products and how it contrasts with GM's relatively closed attitude, Barra also gave a chuckle. "I'm sure you would like me to say yes. I think we're fundamentally different. Look at our volume and look at the segments where we compete. His product line – his two products – his scale, it's completely different." The rest of Barra's interview is certainly worth a read, and includes talk about the Volkswagen diesel scandal, GM's changed relationship with the National Highway Traffic Safety Administration, and Uber. Head over to The Detroit Free Press website for the full story from USA Today.

Cadillac president de Nysschen says electrification coming 'across the spectrum'

We like to pick on new Cadillac president Johan de Nysschen for his insistence, many years ago, when he was president of Audi of America, that plug-in vehicles are for idiots. Listening to him give the keynote address at the Washington Auto Show today, you wouldn't know he ever said anything negative about an electric vehicle. Instead, he sounds something like a EV-angelist. De Nysschen said that Cadillac will be able to benefit from GM's considerable expertise in plug-in technology, which he said would be "applied across the spectrum of our portfolio." GM's electric committment will help in "making electrification commonplace." With the plug-in ELR already on the road, de Nysschen said that the company's next step in advancing powertrains will be the introduction of stop/start technology – which de Nysschen called an "important system to reduce fuel consumption and CO2 emissions" – into a Cadillac for the first time later this year. Without giving any specific details, de Nysschen said that Cadillac will introduce eight new models (not necessarily plug-ins) by the end of this decade, including five that "will take Cadillac into market segments where the brand is not even present today." These new vehicles will likely be much lighter than today's vehicles, de Nysschen said, because "weight reduction today is critical to automotive design, it helps to improve fuel efficiency and contributes to desireable vehicle dynamics." The key is to reduce weight without compromising safety or comfort and to use the right material – steel, aluminum, carbon fiber – in the right place at the right time. It was a not-so-subtle jab at Ford and its new aluminum F-150. "In the pursuit of weight reduction, some manufacturers have also opted for abandoning steel and have gone for an all-aluminum approach," he said. "At Cadillac, we believe that different materials each present particular advantages in specific applications. There is no single material that represents the optimum balance of the conflicting objectives of every single application." Related video: