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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.

Nissan to give Qashqai the Nismo treatment

Nismo is on a bit of a rampage lately. Once consigned to the fringes, Nissan has taken its performance sub-brand into the mainstream and let it loose on a whole mess of its products. The Juke Nismo was followed by a 370Z Nismo, and in Los Angeles, we saw the GT-R Nismo, Sentra Nismo concept and Juke Nismo RS.
So what's next from Nismo? According to the latest intel from across the pond, Nissan is working on a tuned version of its new Qashqai. Car magazine is reporting that the larger crossover will get the same 1.6-liter turbo four as the Juke Nismo, but with the RS model's 212-horsepower out and not the "base" model's 197. Expect all the other bells and whistles applied to transform a Nissan model into a Nismo one to apply as well.
If the Qashqai name doesn't ring any proverbial bells for you, that's alright, because it's only sold overseas, where it's one of Nissan's most popular models. The crossover (which looks like the new Rogue but is a substantially different model) was recently completely replaced, with engine options ranging up to 150 horsepower - so the jump to over 200 should make for quite a different beast altogether. Whether a parallel or subsequent program to give the Rogue a similar treatment is another matter, but given the pace at which Nismo seems to be running, that may only be a matter of time.

Recharge Wrap-up: Nissan e-NV200 Workspace, Audi Shared Fleet pilot in NC

Nissan has collaborated with Studio Hardie to create the e-NV200 Workspace mobile office. The one-off electric van includes a desk space, touchscreen PC, pop-up coffee machine, Wi-Fi, wireless charging, mini fridge, pull-out rear deck, and app-controlled lighting. The e-NV200 Workspace allows freedom to work to work in a variety of places while avoiding the high rent of city center office space. It also eliminates the added cost and time of traveling to work. There's even a storage mount inside the van for a folding bike to facilitate for when you want to leave the office behind. Check it out in the video above, and read more from Nissan. Audi is launching a pilot program of its on-demand Shared Fleet service in Durham, North Carolina. With Audi Shared Fleet set to debut around the country next year, the pilot program will be housed at the American Underground technology incubator in Durham for this initial trial. Users will be able to book and unlock the fleet's 2017 A4 sedans using the Audi Shared Fleet app. The program will help Audi refine the service ahead of its nationwide launch. Learn more from Audi. The Illinois Solar Energy Association (ISEA) is raffling off a Tesla Model S as part of a fundraiser. In its Green Your Ride contest, the ISEA will pick a winner from 2,500 tickets sold at $100 apiece (or four for $300). If the winner doesn't need a car, or doesn't want to pay the associated taxes and fees, they can opt instead for $60,000 cash. Second and third prize winners get a Tesla Model S for Kids by Radio Flyer, or $500. If less than 2,000 tickets are sold, the winner takes half the raffle proceeds, while the ISEA will use the rest in its mission to promote solar power. Read more at ValueWalk.