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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.

Junkyard Gem: 1993 Mercury Topaz GS Sedan

As long as the Mercury brand existed — a period spanning the 1939 through 2011 model years — nearly every Mercury sold in the United States was more or less a redecorated Ford model. The Torino had its Montego sibling, the Crown Victoria had the Grand Marquis, the Cougar was based on everything from the Mustang to the Mondeo, and so on. Naturally, when the folks in Dearborn developed the Ford Tempo compact, a Mercury version had to be created. This was the Topaz, with the official launch of both cars taking place on the deck of the aircraft carrier often referred to as the USS Decrepit. You can't make this stuff up! The Tempo/Topaz, also known as the Tempaz, has largely faded from our collective automotive memory by now, since it broke no significant new engineering or styling ground (this story would be much different if Ford had only put the amazing straight-eight "T-Drive" Tempaz powertrain into production) and didn't have any endearing features other than being a cheap domestic competitor to the Toyota Corolla and Nissan Sentra. Still, close to 3 million Tempazes left North American Ford and Lincoln-Mercury showrooms during the 1984-1994 period. As you'd expect, most of these disposable cars disappeared from both the street and the car graveyard long ago. It takes a very special Tempaz for me to break out my camera while I'm patrolling my local wrecking yards; generally, this means an ultra-rare all-wheel-drive version or at least a very early model in super-clean condition. Today's Junkyard Gem is neither, but I took one look at this spectacular Bordello Red crypto-velour-and-slippery-plastic interior and recognized that this was no ordinary junkyard Mercury. It appears that Mercury had dropped the idea of clever names for base-grade seat fabrics by the time of the Topaz, referring to this stuff as just "cloth" in all the brochures I could find. That's too bad, because Mercurys had cool names for upholstery (e.g., Chromatex) in the old days. The interior is in very good condition but the steering wheel shows substantial wear, so I think this is a high-mile Topaz that got meticulous care from its owner or owners. Ford used five-digit odometers on these cars until the end of production, however, so we'll never know if this reading indicates 65,404 miles or 365,404 miles. The body is very straight, but there's some nasty corrosion behind the right front wheelwell.

Lucid Air, VW ID.4 AWD and Polestar 2 Single Motor driven | Autoblog Podcast #704

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Autoblog Green, John Beltz Snyder. Greg's been driving the Volkswagen ID.4 AWD and the Lucid Air, while John has been in the Mini Cooper Hardtop and Polestar 2 Single Motor. They discuss the big Rivian news of the week, its stellar IPO. They take a question from the mailbag about whether to sell a Tesla Model 3, and they help a listener decide whether to buy a Ford Maverick or some other pickup. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #704 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving2022 Volkswagen ID.4 AWD Pro 2022 Lucid Air 2022 Mini Cooper Hardtop 2022 Polestar 2 Single Motor Rivian's IPO Mailbag: To sell or not to sell a Tesla Model 3 Spend My Money: Ford Maverick FX4 or something else? Transcript Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.