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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 adds top-level, $35,690 Cherokee Overland trim [UPDATE]

UPDATE: We initially received incorrect pricing information. FCA says the Cherokee Overland will cost $35,690, including $995 for destination. If you want a more luxurious Jeep, you buy a Grand Cherokee Overland or Summit. But if the idea of dropping $45,000 to $51,000 gives you pause, you'll welcome the news that FCA's off-road brand will introduce a luxury-oriented version of its smaller, more affordable Cherokee. The new Cherokee Overland incorporates a number of cosmetic changes. All of the black plastic body elements have been replaced with body-colored items, improving the overall aesthetic. Jeep fitted handsome, polished 18-inch wheels along with chrome trim on the upper and lower grilles, and the halogen headlights have been swapped with standard bi-xenon units. Previously, the HID headlights were only available as part of an $1,845 Luxury Pack on the Cherokee Limited. In the cabin, the biggest change is found on the seats, where Nappa leather comes standard along with heating and ventilation functions. The steering wheel gets Zebrano wood trim, and instrument panel is wrapped in leather. Beyond that, the Overland is unsurprisingly well-equipped, with an Alpine Premium Audio system, FCA's excellent 8.4-inch UConnect system with navigation, and blind-spot monitoring with cross-traffic alert. The three big optional extras include the Cherokee's 3.2-liter V6, the Jeep Active Drive II all-wheel-drive system, and the Technology Group (auto high beams, lane departure warning, lane keep assist, forward collision warning, collision mitigation braking, park assist, adaptive cruise, front and rear park assist with rear stop, and automatic windshield wipers). Owners will also be able to snag a sunroof and a couple of smaller items, like a wireless charging pad. Prices for the Cherokee Overland start at $35,690 (including destination) with sales to begin this spring. Read on for the official announcement from Jeep. Jeep® Expands Cherokee Lineup with Premium Overland Model • New 2016 Jeep® Cherokee Overland debuts at New England International Auto Show • More premium Jeep Cherokee model boasts an unmatched combination of luxury and capability in the mid-size SUV segment • Cherokee Overland delivers sophisticated styling, a well-appointed interior, a long list of premium standard features, and legendary Jeep capability • New premium Cherokee Overland available in Jeep showrooms this spring • Jeep Cherokee sales increased 23 percent in 2015 BOSTON, Jan.

Drive like a prince: Join us for a walk through Monaco's car collection

Small, crowded, and a royal pain in the trunk lid to drive into during rush hour, Monaco sounds like an improbable location for a huge car museum. And yet, this tiny city-state has been closely linked to car culture for over a century. It hosts two major racing events every year, many of its residents would qualify for a frequent shopper card if Rolls-Royce issued one, and Prince Rainier III began assembling a collection of cars in the late 1950s. He opened his collection to the public in 1993 and the museum quickly turned into a popular tourist attraction. The collection continued to grow after his death in April 2005; it moved to a new facility located right on Hercules Port in July 2022. Monaco being Monaco, you'd expect to walk into a room full of the latest, shiniest, and most powerful supercars ever to shred a tire. That's not the case: while there is no shortage of high-horsepower machines, the first cars you see after paying ˆ10 (approximately $11) to get in are pre-war models. In that era, the template for the car as we know it in 2023 hadn't been created, so an eclectic assortment of expensive and dauntingly experimental machines roamed whatever roads were available to them. One is the Leyat Helica, which was built in France in 1921 with a 1.2-liter air-cooled flat-twin sourced from the world of aviation. Fittingly, the two-cylinder spun a massive, plane-like propeller. Government vehicles get a special spot in the museum. They range from a Cadillac Series 6700 with an amusing blend of period-correct French-market yellow headlights and massive fins to a 2011 Lexus LS 600h with a custom-made transparent roof panel that was built by Belgian coachbuilder Carat Duchatelet for Prince Albert II's wedding. Here's where it all gets a little weird: you've got a 1952 Austin FX3, a Ghia-bodied 1959 Fiat 500 Jolly, a 1960 BMW Isetta, and a 1971 Lotus Seven. That has to be someone's idea of a perfect four-car garage.  One of the most significant cars in the collection lurks in the far corner of the main hall, which is located a level below the entrance. At first glance, it's a kitted-out Renault 4CV with auxiliary lights, a racing number on the front end, and a period-correct registration number issued in the Bouches-du-Rhone department of France. It doesn't look all that different than the later, unmodified 4CV parked right next to it. Here's what's special about it: this is one of the small handful of Type 1063 models built by Renault for competition.