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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.

Honda Clarity is your new fuel cell future vehicle [w/video]

We know it will go on sale in the US next spring. We know it will have an estimated range of over 300 miles. We know it will start sales in California, since that's where the hydrogen stations are. But perhaps the one key details about Honda's new fuel cell vehicle that we are learning today is the name. It will be the Honda Clarity Fuel Cell. That should ring a few H2 bells for hydrogen vehicle fans out there, since the fuel cell vehicle that Honda has been leasing since 2008 was called the FCX Clarity (and the hydrogen test vehicle before that was the FCX). Naming the new vehicle - known until now as the FCEV - the new Clarity draws a clear line through to Honda's hydrogen history. This is a completely different message than the one that Toyota is sending with the name for its upcoming hydrogen car, the Mirai. In Japanese, Mirai means future. It is also interesting to note that Honda is not going to target regular consumers with the Clarity during the first year, at least in Japan. Honda says that it will work "mainly" with local governments and business customers that have shown an interest in hydrogen technology and will begin sales to individual customers "later." The five-seat Clarity Fuel Cell will come in three colors: Premium Brilliant Garnet Metallic, White Orchid Pearl, and Crystal Black Pearl. Honda says that the price, in Japan, will be 7.6 million yen, including consumption tax. That equals $63,610 in the US, but we all know these prices cannot simply be converted like this to arrive at the US MSRP. Still, now we have a guideline. At this time, Honda does not plan to sell the vehicle, since, the Clarity will be "currently available exclusively for lease sales." We got to take a brief drive in the FCEV this past week, and you can read more about the technological advances in the new Clarity (the smaller fuel cell stack, the powertrain packaging, etc.) here. The fact that Honda consistently calls the new car the Clarity Fuel Cell (as opposed to simply the Clarity) gives us reason to think that the upcoming PHEV and all-electric models will not only share a chassis, but also perhaps a name. Clarity EV, anyone? Honda Exhibits World Premiere of CLARITY FUEL CELL, Planned Production Model of its All-new Fuel Cell Vehicle, at 44th Tokyo Motor Show 2015 -- Lease sales in Japan will begin in March 2016 -- TOKYO, Japan, October 28, 2015 - Honda Motor Co., Ltd.

Honda, GM fuel-cell partnership wants to reduce hydrogen refueling costs

To paraphrase the old political adage, it's the cost, stupid. Dollar signs are what's prompting Honda and General Motors to partner up to accelerate development of a hydrogen fuel cell system. With about half the cost of a fuel-cell system tied up in its fuel-cell stack, GM and Honda are looking to help each other drive costs down, according to a presentation by GM fuel cell research and development director Mark Mathias said in a presentation at the SAE 2014 Hybrid & Electric Vehicle Technologies Symposium. According to Green Car Congress, Honda and GM are looking to reap the fruits of their collective labor by 2020. As with other automakers, the high cost of producing fuel-cell vehicles is the fly in the ointment of a powertrain technology that combines the same range as gas-powered vehicles but with zero emissions. In the meantime, Honda, which makes the very limited production FCX Clarity fuel-cell vehicle, is slated to start selling its own mass-market fuel-cell vehicle in 2015. The two automakers made their partnership announcement last summer and said they contribute to expanding hydrogen fuel infrastructure in California during the next few years. Earlier, Ford, Mercedes-Benz parent Daimler and Nissan also said they would work together to speed up fuel-cell technology development.