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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.

GM's MPG overstatement could affect 2 million vehicles

Late last week, GM admitted that three of its large SUVs fuel economy window stickers did not match their actual efficiency ratings, and so the vehicles couldn't be sold. The stickers on the 2016 Chevy Traverse, GMC Acadia, and Buick Enclave said their ratings were one to two miles per gallon better than they should have been. Officially, the number of affected vehicles sits at about 60,000. But Consumer Reports makes a good point: what's up with all of the previous model year SUVs that are basically the same vehicle? To wit: the 2016 model year vehicles are not substantially different than the 2015 or the 2014, or even going all the way back to 2007. On the EPA's fuel economy website, all of these older models will "have better stated fuel economy numbers than the new vehicles in GM's dealerships," Consumer Reports noted. CR's best point, and the one that makes the 60,000 number potentially grow to 2 million if all of the vehicles built on this platform are affected, is that "[i]t seems unlikely that the company would change the powertrain on these carryover models so late in their model cycles in a way that would cause a dramatic, negative impact on fuel economy." GM says that earlier model year SUVs are not affected and the EPA did not respond to CR's question about the potential for more discrepancies. We've seen automakers reverse course before, so if GM has to come out with a mea culpa soon, don't be surprised. GM is rushing corrected stickers to dealers so that the SUVs can be sold again, but a fix for the already-sold vehicles could be trickier to solve. Related Video: Related Gallery 2013 GMC Acadia View 16 Photos News Source: Consumer Reports Government/Legal Green Buick Chevrolet GMC Fuel Efficiency mpg gmc acadia chevy traverse

2015 Chevy Tahoe, Suburban and GMC Yukon unveiled

General Motors has today unveiled its new family of fullsize SUVs, including the 2015 Chevy Tahoe, its longer Suburban sibling, and their GMC Yukon, Yukon XL and Yukon Denali cousins. More efficient powertrains, improved aerodynamics, increased connectivity and better overall refinement are what Chevy and GMC say will separate their new SUVs from the current generation.
Sporting a tried-and-true body-on-frame architecture, these full-size SUVs feature platforms that are stronger and offer a wider rear track for "a more planted stance," according to Chevy and GMC. Mounted at the front of each SUV is an EcoTec3 powertrain, which consists of a standard 355-horsepower, 5.3-liter V8 (or a 420-hp, 6.2-liter V8 for the GMC Yukon Denali alone) with direct injection, cylinder deactivation and continuously variable valve timing, that's paired with a Hydra-Matic 6L80 six-speed automatic transmission. The setup is said to be more efficient than before, though official EPA fuel economies for each vehicle are not yet available. To help the powertrain achieve the best possible fuel economy in these 5,000+ pound SUVs, the new styling was developed with aerodynamics in mind. For the same reason, electric power steering also makes its debut in the Tahoe/Suburban/Yukon family.
The front fascias of the Chevy Suburban/Tahoe and GMC Yukon are distinct, but from the base of the A-pillars back, they share most of the same styling cues. This now includes inlaid doors that tuck into the door sills, instead of over them, which improves aerodynamics and fuel economy, and lessens interior noise. The hoods and liftgate panels now are made of aluminum in an effort to reduce vehicle weight. Chevy and GMC also tout that the Tahoe/Suburban and Yukon don't share a single piece of sheetmetal or lighting element with the brands' full-size pick-up trucks.