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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.

Toyota has 200 orders for 2016 Mirai hydrogen fuel cell car

Toyota built 500 Lexus LFA supercars between 2010 and 2012 in what Automotive News has called a "secretive workshop." The automaker has been wondering what to do with that production line since the last LFA rolled off in December 2012 and, like so much else for Toyota these days, the answer is a hydrogen car – and in about the same small numbers. The 200 Mirai orders are "mostly from government and corporate fleets." – Masamoto Maekawa The 2016 Mirai fuel cell vehicle will go into production later this month at the old LFA workshop, which is located behind Toyota's Motomachi assembly plant in Toyota City. The skilled workers there have been doing other things (like building bicycles) since the last LFA was finished and now Automotive News says they will hand-build the Mirai so that the car can get the attention to detail Toyota wants and because there won't be that many of the hydrogen cars made for a while. Toyota has already said it will sell only 3,000 Mirai FCVs in the US by the end of 2017 (it won't arrive here until late 2015, with deliveries in Japan starting earlier). With 200 orders already in and a plan to build only 700 in 2015, Toyota is already talking about delivery delays. Toyota's executive vice president for domestic sales, Masamoto Maekawa, said that, "the 200 orders are mostly from government and corporate fleets." Production could remain at LFA Works for a while. One Toyota exec said that even if the company makes 2,000 Mirais a year, that would still be only 10 each day. Doesn't sound like there's going to be anyone working weekends for a while.

Toyota rolls out new turbo engine on updated JDM Auris

Toyota may be among the leaders in hybrid powertains, but the Japanese auto giant knows there's more than one way to skin a proverbial cat – especially when it comes to green propulsion. To that end, it has announced a new series of downsized turbocharged engines. Leading the charge is 8NR-FTS, a new 1.2-liter turbocharged and direct-injected engine that uses a single-scroll turbocharger and a water-cooled exhaust manifold integrated into the cylinder head. The engine promises to deliver "responsive acceleration and maximum torque across a wide rpm range" combined with "drastically improved thermal and fuel efficiency." It features what Toyota calls D-4T technology – combining direct-injection with a turbocharger in a four-stroke engine – as well as continuously variable intake valve timing. The result is an engine that produces 114 horsepower and 136 pound-feet of torque from just 1,196 cubic centimeters of displacement. The engine is being rolled out initially on a redesigned version of the Auris hatchback (similar to the Scion iM we'll be getting Stateside) that's being introduced in Japan. In addition to the 1.2-liter turbo, the JDM Auris will also be available with a 1.5- and 1.8-liter engines. Buyers will also be able to choose between CVT and six-speed manual transmissions (the latter only available with the 1.8), in front- or all-wheel drive and in six trim levels – of which the 120T with the new 1.2 and CVT is the top. The refreshed Auris also benefits from revised sheetmetal, interior equipment and safety features. We're awaiting word back from Toyota on whether this new engine (or some derivative thereof) will be made available in North America, but in the meantime you can scope out all the details on both the engine and the new Auris in the press releases below and in the pair of high-resolution image galleries. Turbocharged Toyota Auris Goes on Sale in Japan Toyota City, Japan, April 6, 2015-The partially redesigned Toyota Auris, offering a newly developed turbo engine and a brand new safety package, went on sale in Japan today. Featuring significant interior and exterior changes, this latest redesign advances the Auris brand by building on the individuality and performance that has defined the model since its first generation. In addition, Toyota has combined the best of the model's new features by creating the high-end 120T grade. Across all grades, Toyota aims to sell 1,000 units per month in Japan.