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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.

Crossovers help Mazda post its best January sales in 24 years

Mazda's 2017 ended on a bit of a flat note. It wrapped up the year with 2.8 percent fewer U.S. sales than 2016, and 8 of the 12 months lower month-over-month. But 2018 is off to a much brighter start with the company having its best January sales month since 1994, with just under 25,000 cars sold. Besides that headline statistic, the higher sales also mean this January exceeded 2017's sales by 15 percent or about 3,300 cars and put it ahead of January in that healthy 2016 year. Compared with this past December, though, sales are down about 2,000 cars. The gains are entirely due to the success of Mazda's crossover SUVs. The CX-5 was the best of the best with a month-over-month gain of over 66 percent. In actual numbers it sold about 13,500 copies compared with about 8,000 last January. The big three-row CX-9 had a big jump going from 1,600 units sold last January to about 2,300 for a gain of almost 47 percent. Even the little CX-3 saw a small gain between the two Januarys, going from about 1,200 to 1,350 sales. View 14 Photos Mazda's January would've been even better if its conventional cars hadn't dropped so much. Both Mazda Miata and Mazda6 sales dropped by just over half. The Mazda dropped from 3,300 sales to just under 1,600, and the Miata dropped from a little over 900 to a little over 400. Mazda3 held on a little better with just a 12 percent drop from last January going from about 6,600 to 5,800 sales. The lopsidedness of these sales isn't all that surprising. Crossovers have been a boon to loads of manufacturers. For example, Mitsubishi had an 2017 full of sales improvements, with the company finally breaking 100,000 units for the first time in years, and it was all because of improving crossover sales. January's sales also continue an unfortunate downward trend for Mazda's cars, with both the Mazda6 and Mazda3 having month-over-month declines every single month since February. It will be interesting to see if the new turbocharged engine option on the Mazda6 will improve sales of the sedan later this year. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

AWD Mazda6 or Mazda3? That could be a thing, but there's a problem

We wanted a stronger engine in the Mazda6, and last week at the L.A. Auto Show we got one, Mazda's turbocharged 2.5-liter four. (Though some of us wanted a manual transmission with it, but didn't get that.) And now we learn that apparently a lot of us would like to have all-wheel drive in Mazda's sedans. That might be a tough ask, but Mazda says it hears us. In an interview with CarAdvice, Masahiro Moro, Mazda North America's president and CEO, said there's a big demand in the U.S. for AWD, so Mazda's looking into it. Ah, but maybe we can't have everything. "I think we are not able to combine four-wheel drive and the 2.5-liter turbo. We have a layout issue with the sedans, that's why a four-wheel drive isn't deployed on the Mazda 3 and 6 so far," Moro said. "But there is a huge demand, at least what I know is that in the East Coast of the USA, 80 or 90 percent of premium sedans are sold with all-wheel drive." And with Mazda going upscale, it only makes sense to give upscale, performance-oriented customers what they want, like the AWD sedans the German premium brands have been offering for years. "Four-wheel drive becomes a premium cue for U.S. consumers," said Moro, "and obviously I have asked our R&D department to think about how we can accommodate four-wheel drive capability in the future." Though the CX-9, being a crossover, of course has AWD in combination with that turbo engine, it simply must not have the platform limitations of the sedans. And all-wheel drive in the Mazda6, at least, has been available in Japan, Europe and Australia, but paired with the Skyactiv-D and another smaller engine, diesels we don't get here. Moro's statement leaves open the possibility of AWD with the base 2.5-liter engine, but maybe not. Besides, a premium buyer would want the turbo. So, when Moro says the future, he means not now, not in the Mazda6 facelift we just saw. But maybe in the next big redesign? Or maybe the configuration problems will be easier to overcome when working with the innovative new 2.0-liter Skyactiv-X compression-ignition engine that's expected in the 2019 Mazda3. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2018 Mazda6: LA 2017 View 16 Photos Image Credit: Drew Phillips / Autoblog Auto News Mazda Technology Emerging Technologies Performance Sedan