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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.

2019 Mazda CX-5 to get 2.5-liter turbo and revised G-Vectoring

The 2019 Mazda CX-5 is getting Mazda's 2.5-liter turbocharged four-cylinder engine if this supposed internal document from Reddit is correct. The user claims a salesperson showed him the document in question. In addition to the availability of the turbo engine, Apple CarPlay and Android Auto appear to be added onto every trim level. Do take note that the document says it's from Mazda Canada at the bottom, so that's why the trim levels don't have the same names as they do in the U.S. Another interesting mention in there is G-Vectoring Control Plus. We've had Mazda's G-Vectoring Control technology for a little while, but never has a car come out with the Plus moniker on there. Our best bet is Mazda has revised its original G-Vectoring system for 2019; we'll have to wait for official information to see what exactly changed though. At the top of the page Mazda lists "substantial visual changes to the interior" as one of the highlights. The biggest change we can find related to that is a seven-inch LCD display added to the gauge cluster on what would equate to the Grand Touring trim in the U.S. At least Canada — and maybe we too — seems to be getting a fourth trim level called "Signature." This will probably consist of more expensive materials used throughout and maybe a few bonus tech features over the Grand Touring. The page shared looks plenty legitimate, but it's still best to maintain some healthy skepticism. It's also from Canada, so there could be some slight variations between how those cars are equipped versus those coming stateside. We're excited to see the 2.5-liter turbo in the smaller CX-5, though. It should give that car the extra punch it needs to fend off faster rivals in the ever-expanding crossover segment. Featured video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Mazda rolls out unlimited mileage warranty in Canada

Cold weather might be starting to grip parts of Canada, but our neighbors to the north are going to be able to drive their 2015 Mazda cars and utilities from Vancouver to Montreal with a little more peace of mind. That's because Mazda Canada is instituting an unlimited mileage warranty for its new models.
The updated plan starts with all 2015 model year vehicles (even those already sold), and the scheme simply removes that distance limit on everything but the emissions defect coverage. That means that the Mazdas have one year of service adjustments, three years of new vehicle coverage, five years on the powertrain, seven years against corrosion and three years of roadside assistance for as many kilometers as the owner drives.
The change removes at least one, tiny piece of anxiety about buying a new vehicle because it's easy to know when the coverage ends. "By offering our customers an Unlimited Mileage Warranty, we believe it will enhance their ownership experience by alleviating concerns such as kilometre limitations, repair costs and resale value," Kory Koreeda, president of Mazda Canada, in the automaker's announcement.