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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.

Mazda2 production fires up in Mexico

Mazda has officially kicked off production of the next-generation Mazda2 at the company's new factory in Salamanca, Mexico. Alongside the auto assembly plant, operations have also commenced at the facility's engine machining factory.
"With the start of production of the all-new Mazda2, operations underway at the engine machining plant, and an increase in our annual production capacity, we now have an even stronger production framework capable of supplying global markets with Skyactiv products of the same high quality level as those made in Japan," Mazda de Mexico Vehicle Operation's President Keishi Egawa said in a statement. "At the same time, we are pleased to be able to make a contribution to Mexico's further economic growth."
MMVO joins Mazda's Hofu Plant in Japan and the Auto Alliance factory in Thailand, which commenced Mazda2 production in July and September, respectively.

2018 Mazda Miata adds a cherry on top

For 2018, Mazda is adding a number of new options that should get the attention of prospective Miata buyers, and one of them is shown above. Starting with the new model year, Mazda will offer both the usual black soft top, but also a "Dark Cherry" red top. It looks quite sharp with the silvery-blue color above, and it should be an excellent complement to the Grand Touring model's newest interior option. On the Grand Touring trim, customers can choose the reddish-brown Nappa leather interior that was first applied to the Miata RF Launch Edition. The interior package adds $300 to the top-trim Miata's price tag. There are a few other upgrades sprinkled throughout the Miata lineup. The base-level Sport models will finally get infotainment with a 7-inch screen instead of the little stereo controls mounted to the dash. The midrange Club model now gets heated cloth seats that are upgraded to heated leather units with the Brembo/BBS package, which for $3,770 adds Brembo brakes, BBS wheels, a body kit and the aforementioned seats. Another $700 nets the same package but with Recaro seats that also feature seat heaters. Along with the new features come slight price increases across the board. The base 2018 Sport trim now starts at $26,185, an increase of $395. The Club increases in price by $370 to $30,045, and the Grand Touring has the smallest change of $145 to $31,085. The first 2018 soft-top Miatas will arrive at dealerships this month, and should be available everywhere in January. Related Video: Image Credit: Mazda Mazda Convertible Performance mazda mx5