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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 recalling 118K Colorado, Canyon pickups over missing hood latches

General Motors has announced a recall of 118,800 Chevrolet Colorado and GMC Canyon pickup trucks due to the possibility of secondary hood latches not being installed at the time of manufacture. The affected vehicles are from the 2010, 2011 and 2012 model years, all of which were built between November 9, 2009 and August 28, 2012.
According to the official National Highway Traffic Safety Administration report, these trucks fail to "comply with the requirements of Federal Motor Vehicle Safety Standard No. 113, 'Hood Latch System.' The hood may be missing the secondary hood latch." In other words, owners of these trucks could find their vehicles' hoods opening unexpectedly while driving.
The official recall campaign is expected to begin on January 17, 2013. Dealers will inspect the affected pickups and if a secondary hood latch is not present, one will be installed free of charge. Scroll down to read the official NHTSA report.

Recon Power Bikes partners with GMC on AWD Hummer eBike

Want the ultimate two-wheeled companion to your new GMC Hummer EV, or maybe you just want something electric and all-wheel drive without the Hummer's price tag? Recon Power Bikes has you covered with its new Hummer EV e-bike. Not convinced? Well, hear the specs before you bail. You might be surprised.  Recon's new offering is marketed as "all-wheel drive," which our resident two-wheeled expert and consumer guru Jeremy Korzeniewski tells us is quickly becoming conventional nomenclature for dual-motor electric bicycles. Hey, if you've got two wheels and both have motors, it's technically correct, even if it sounds a bit silly to those of us who prefer the comforts of a cage and four wheels on pavement.  Each of the two motors produces 750 watts, which combines for just a little over 2 (two!) horsepower, but remember, this is a bicycle, not a sport bike. And flipping the coin, that lone pony is accompanied by more than 118 pound-feet (or roughly a 1.8-liter Miata's worth) of torque. Recon says its top speed is north of 28 mph, which is plenty quick for something that you might see strapped to the same hitching post as a 30-year-old Huffy. The base battery offers 17.5 aH of capacity; an upgrade bumps that to 21. Recon says the total range should fall between 40 and 50 miles. The package is rounded out by an adjustable front suspension, four-piston hydraulic brakes, puncture-resistant 4-inch all-terrain tires with molded-in liners and Shimano gearing.  Recon says the Hummer e-bike offers "on-demand" AWD (rear by default; both when called upon) and even offers three fixed drive modes — "Cruise" (rear wheel drive, for maximum range and efficiency), "Traction" (front wheel drive, for navigating with low grip) and "Adrenaline" (for "off road all wheel drive dominance of the toughest, steepest terrain"). "Adrenaline" mode even offers real-time torque vectoring, just like a real Hummer EV. The two vehicles are basically the same, only the bike weighs just 96 pounds, not more than 9,000.  Look for the Recon Power Bikes GMC Hummer e-bike to hit the market in early December with a starting price of $3,999. That may sound steep, but keep in mind that QuietKat's Jeep eBike costs nearly double that.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Recon Power Bikes GMC Hummer eBike Green GMC Green Culture Bikes Electric