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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.

Cadillac teases CT4 and CT5 V-Series Blackwing steering wheel

There's quite a bit that we know about the upcoming Cadillac V-Series Blackwing models. Thanks to spy shooters and prototypes, we've seen the CT4-V and CT5-V Blackwing out and about testing on public roads, which means we've seen the bronze wheels in staggered sizes. We've been told they will offer proper manual transmissions, and we know they will lap a race track quicker than the ATS-V and CTS-V they replace. And now we know what their steering wheels will look like. It's not much to base an entire teaser on, but there are a few interesting tidbits we can glean from Caddy's first official Blackwing tease. First, the wheel itself. It's leather wrapped (not Alcantra, at least on this example), it looks to have meaty bulges where you'll want to grip it, it has a red strip at the top to help locate straight ahead while driving aggressively, and it has a carbon fiber V-shaped spoke at the bottom. Finally, we see a prominent silver button labeled "V" on the left side that will allow drivers to quickly access V-Mode. To the right will be buttons for the Performance Traction Management system. Judging by the fuzzy background behind the wheel that shows some sort of digital gauge cluster, it seems that Cadillac may be aiming for a 200-mile-per-hour top speed for the CT5-V. That's not a stretch, as the last-generation CTS-V could hit that speed, too. Cadillac smartly took this shot in a way that blurs the center console, which means there's plenty more time to speculate on the transmission choices. Cadillac says the V-Series Blackwing models will be ready in time for the summer of 2021. Stay tuned. Related Video:  

2020 Cadillac CT4-V, CT5-V revealed, less powerful than predecessors

Expectations have reached stratospheric heights for the 2020 Cadillac CT4-V and 2020 Cadillac CT5-V, and for good reason: Their ATS-V and CTS-V predecessors were potent sports sedans with gobs of power and handling and braking to match. Now the new sedans have been revealed, and they're not what we expected. They each lose two cylinders compared with the other vehicles, and on paper, they don't look as capable. But we do have hope that these won't be the end-all, be-all performance Cadillacs. First, let's look at the cars. The CT4-V will be the base of the V brand, and it's our first look at the small luxury sedan. It has a roofline and window treatment more like past Cadillacs, eschewing the C-pillar garnish of the CT5. It also naturally gets dark trim and headlights, a unique spoiler and quad tailpipes to distinguish it as a V. Under the hood is a turbocharged 2.7-liter four-cylinder that is based on the engine in the new Chevy Silverado. It makes 320 horsepower and 369 pound-feet of torque, a far cry from the ATS-V's 464 horsepower and 445 pound-feet of torque. Cadillac CT4-V View 12 Photos Power goes through a 10-speed automatic transmission only. Both rear-wheel drive and all-wheel drive are available. It gets a mechanical limited-slip differential whereas the ATS-V had an electronically controlled limited-slip differential a la Camaro ZL1. The brakes have four-piston calipers at each corner versus six-piston front units and four-piston rear units on the ATS-V, and the rotors are smaller. Magnetic Ride Control remains standard on the rear-drive version, but the all-wheel-driver version sticks with conventional shocks. The new CT4-V is about 200 pounds lighter than the ATS-V, though, and it has 50/50 weight distribution. Additionally, both the CT4-V and the CT5-V have Super Cruise available as an option. Moving on to the CT5-V, it looks like a regular CT5 but with dark trim and lights, quad tailpipes and a unique rear diffuser. Instead of the CTS-V's 640-horsepower supercharged V8, the CT5-V uses a twin-turbo 3.0-liter V6 making 355 horsepower and 400 pound-feet of torque. Changes made to the 3.0 for the CT5-V include a new intake system and new exhaust, and it revs higher too. Like the CT4-V, it comes with a 10-speed automatic and either rear-wheel drive or all-wheel drive. It does get the electronically controlled limited-slip differential.