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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.

2015 Cadillac ATS Coupe prepares to fight BMW 4 Series

Cadillac introduced its new ATS Coupe at the 2014 Detroit Auto Show today, bringing customers an alternative to the growing range of sport luxury coupes typified by the BMW 4 Series, Audi A5 and Mercedes-Benz C-Class Coupe.
The ATS Coupe, as a slightly more premium offering, ditches the wheezy 2.5-liter engine found in the basic ATS Sedan, but retains the four-door's 2.0-liter, turbocharged four-cylinder and 3.6-liter V6. That four-pot turbo benefits from a fettling that has increased torque from 260 pound-feet to 295, although its peak is only available from 3,000 rpm to 4,600 rpm, unlike in the sedan, where peak twist arrives at just 1,700 rpm and sticks around until 5,500 rpm.
Power can be channeled to either the rear or all four wheels by the owner's choice of a Tremec six-speed manual or a six-speed automatic transmission. According to Cadillac, the new Coupe can get to 60 in 5.6 seconds when fitted with the 2.0-liter turbo.

2019 Cadillac CT6-V preorders start at $89,785

Cadillac's top-of-range sedan will start at less than $90,000, just barely. At the North American International Auto Show in Detroit, Cadillac announced it is opening preorders for the 2019 CT6-V, which will start at $89,785. Keeping things exclusive, Cadillac has 275 preorder slots available to the U.S. market for the CT6-V. It will briefly join the ATS-V and the CTS-V to give Caddy a trio of powerful sedans before the ATS-V and CTS-V bow out after the 2019 model year to make way for new models. Cadillac offers less powerful V-Sport variants, as well. The CT6-V, formerly the CT6 V-Sport, uses a Cadillac-exclusive powertrain. The twin-turbo 4.2-liter V8 makes a claimed 550 horsepower and 627 lb-ft of torque. This engine is hand-built and nicknamed the "Blackwing." It is linked to a 10-speed automatic transmission, which puts power to the ground through Cadillac's all-wheel-drive system. As an added luxury perk to buying the CT6-V, Cadillac will include 2 days at the V-Performance Academy at Spring Mountain. The trip is essentially all expenses paid, with tuition and luxury accommodation part of the package. Cadillac estimates the first CT6-V models to arrive in mid-2019. Now, it was widely reported that the Detroit-Hamtramck production facility that builds the CT6 would be among those closed by GM. Cadillac President Steve Carlisle told Automotive News, however, that the company is exploring production alternatives to keep the flagship luxury sedan for sale in the United States. Apparently, it was never actually on the chopping block, and instead, officials at the time of the plant closure announcement failed to mention that CT6 production would be moved rather than cancelled. Where that new facility would be has yet to be announced, but Carlisle told Automotive News that moving production to China, where the CT6 Plug-In Hybrid is built, is "the least-preferred option." Related Video: