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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.

Jeep Grand One and Quicksand Concepts lead the charge to Moab

Jeep's past, present, and future all share equal billing at the 51st annual Easter Jeep Safari in Moab. We're suckers for vintage Jeeps, so the all-new Grand One Concept really stands out among the seven vehicles that make up Jeep's conceptual take on the off-road event. It's based on a 1993 Grand Cherokee in a slightly early celebration of the model's 25th anniversary. Exterior mods include custom fender flares for clearance over 18-inch wheels and 33-inch BFGoodrich Mud-Terrain KM2 tires, trimmed front and rear fascias and what FCA is calling a "subtle wood grain" splashed on the vehicle's bodysides. An extended wheelbase ought to offer a bit more room inside, and a two-inch suspension lift will help when the going gets tough. No alterations are mentioned to the vehicle's 5.2-liter V8 or 4-speed automatic transmission. The second most interesting concept for Moab is the Jeep Quicksand. It's clearly Wrangler-based, but instead of a traditional rock-climbing focus, this one's built for the sand dunes. Power comes from a worked-over Mopar 392 Crate HEMI engine topped with an eight-stack fuel injection system that peeks through the hood. A six-speed manual sends the ponies to all four wheels, but with a unique twist: 32-inch BFGs in the front and 37s in the rear in what Jeep says is its first application of staggered tire sizes on a concept vehicle. A Warn winch concealed in a vintage-style Moon tank at the front is the finishing touch. The Jeep Safari Concept is all about letting the outdoors in while keeping the elements out. A translucent hardtop and four aluminum and clear vinyl doors are the most obvious changes from stock, and two rear seats have been angled outward so that their occupants get a better view outside. Dana 44 axles and a two-inch suspension lift come from the Mopar parts catalog, but the roof-rack-mounted drone and dash-mounted iPad are custom one-off touches. Power comes from a stock 3.6-liter V6 and five-speed automatic transmission. Perhaps more intriguing than all the custom bits and baubles, though, are what appears to be next-gen Wrangler bodywork. Take a look at the kinked grille, the outer slats of which are pinched by the headlights, and the shape of the rocker panel between the front and rear door. No, this isn't exactly a 2018 Wrangler hiding in plain sight, but it's certainly a nod toward the future. Jeep's Switchback Concept looks to be a rolling Mopar parts catalog.

Jeep Wrangler production in Toledo to nearly double by 2018

The Jeep Wrangler's future in Toledo, OH, is officially secure. FCA US announced plans on Thursday to spend $1.05 billion to retool the Wrangler factory and another site in Illinois to build Jeeps. The investment could add up to 1,000 jobs, and, according to The Detroit Free Press, allow Jeep to build as many as 450,000 Wrangler models in Toledo. FCA is investing $700 million to make over the Toledo North factory to build the next-generation Wrangler – a vehicle that's hotly anticipated by enthusiasts. FCA said this will add about 700 new jobs. The Wrangler factory is part of a multi-site complex in Ohio, and FCA said an announcement about the South factory will come later. Nearly two years ago, FCA chief executive Sergio Marchionne touched off a firestorm by suggesting the Wrangler could leave Toledo, though plans to keep the iconic Jeep there quickly proceeded. Automotive News reports the new Wrangler will use some aluminum elements, run a turbo four-cylinder engine, and offer a diesel variant. Designers will also pay increased attention to aerodynamics, though maintain the Wrangler's familiar appearance. Additionally, FCA reportedly plans to build a Wrangler pickup in Toledo. That 450,000-vehicle threshold could potentially break down into 350,000 traditional Wrangler models, along with another 100,000 Wrangler-based pickup trucks. When the current Toledo plant was opened in 2005, Chrysler said its capacity was about 150,000 vehicles per year. Since then, that figure has increased to about 240,000 Wranglers yearly, and Jeep has no problem selling that many. FCA's factory in Belvidere, IL, gets $350 million for upgrades to produce the Jeep Cherokee, which moves there in 2017 from Toledo as part of a product shuffle. FCA builds the Dodge Dart and Jeep's Patriot and Compass in Belvidere. The automaker is killing the Dart and will replace the compact Jeeps with a single model next year. The moves are part of FCA's strategy to fortify the Jeep brand, which has posted healthy sales and enjoys a strong reputation around the world. Related Video: