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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.

What will the next Presidential limo look like?

With recent news that the Secret Service has begun soliciting proposals for a new armored limousine, we've been wondering what the next presidential limo might look like. The current machine, nicknamed "The Beast", has a design based on a car that's no longer sold: the Cadillac DTS. If General Motors gets the job again, which wouldn't be a surprise considering the government still owns a chunk of the company, the next limo's shape would likely resemble the new XTS (below, left). But Cadillac hasn't always been the go-to car company for presidential whips.
Lincoln has actually provided far more presidential limousines throughout history than Cadillac. In fact, the first car modified for Commander-in-Chief-carrying duty was a 1939 Lincoln K-Series called "Sunshine Special" used by Franklin D. Roosevelt, and the last Lincoln used by a president was a 1989 Town Car ordered for George H.W. Bush. If President Obama wanted a Lincoln today, it would likely be an amalgam of the MKS sedan and MKT crossover, as illustrated above.
And what about Chrysler? The only record we could find of a President favoring the Pentastar is Nixon, who reportedly ordered two limos from the company during his administration in the '70s, and then another one, known today as the "K-Car limo," in the '80s after he left office. Obama, however, has a personal - if modest - connection to Chryslers, having owned a 300 himself before he took office. A 300-based Beast (above, right) would certainly earn the U.S. some style points.

Almost half of US Cadillac dealers say no to ELR plug-in hybrid

If you've got $75,995 (or so) burning a hole in your pocket and a hankering for the new Cadillac ELR, you'd better call your local dealer before you burn up shoe leather and gasoline to head down there. According to a report on Edmunds, only about 56 percent of the brand's 940 dealers have signed up to carry the premium plug-in hybrid. As much as we'd like to see the more affluent among us driving on electricity, we can certainly understand the dealers' apparent lack of enthusiasm. The article cites costs of up to $15,000 for tools and training to sell the ELR. Show floor real estate is another consideration for dealers who aren't enthusiastic about sacrificing space for a for a vehicle with initial sales – just 46 units nationwide in the first two months, but that volume is expected to increase – that are as mediocre as our first drive impressions. Still, for those locations that co-habitate with Chevrolet dealers who already participate in the Volt program, the extra expenditure shouldn't be too onerous. The two vehicles share the same basic electro-mechanical drivetrain, so those dealerships should have most of the needed infrastructure already in place. The bulk of ELR sales, according to Cadillac's global marketing director Jim Vurpillat, are expected to be in along the coasts, in places like California, Miami and New York. Featured Gallery 2015 Cadillac ELR: First Drive View 25 Photos News Source: Edmunds Green Cadillac Electric cadillac elr