Ford F-150 Limited on 2040-cars

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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.

George W. Bush's 2009 Ford F-150 fizzles with $300,000 bid at Barrett-Jackson [UPDATE: w/video]

Despite some truly impassioned pleading from Jay Leno himself - including calling on Arizona's notoriously Republican-rich voters to beat the $600,000 level set the last time Leno sold a vehicle for this particular charity... in California - bidding for George Bush's 2009 Ford F-150 pickup truck stalled at $300,000.
All proceeds will be sent to the Fisher House Foundation, so at least it's $300K going to a good cause. Feel free to check out the live image gallery above, which includes shots showing Leno's skills helming the auction, and read through the official auction description below.
*UPDATE: Video of the auction and Leno's prods to the crowd for more money can now be seen below.

Porsche Taycan 4S, Ferrari Roma and a tuned Ford Ranger | Autoblog Podcast #624

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Senior Editor, Green, John Beltz Snyder to recap Earth Day 2020 coverage, including a first drive and range test of the 2020 Porsche Taycan 4S, Tesla and the state of the EV industry, and what we think are the best green cars of all time. Then they shift gears to talk about the Ranger pickup getting a tuning package from Ford, as well as their own dives through the Ferrari Roma configurator. They discuss the cars they've been driving — the 2020 VW Jetta and our long-term 2019 Subaru Forester. Lastly, they reach into the mailbag to help a listener buy a used car. Autoblog Podcast #624 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Earth Day recap 2020 Porsche Taycan 4S Tesla and the EV industry The best green cars of all time Ranger gets a tuning package from Ford Configuring the Ferrari Roma Cars we're driving 2020 Volkswagen Jetta 2019 Subaru Forester long-term update Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: