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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.

Volkswagen Tiguan arrives with chiseled looks, GTE plug-in model [w/video]

After a long run, Volkswagen has finally retired the first-generation Tiguan crossover in favor of the larger, more chiseled second-generation model. The new compact is longer, wider, and lower than the more upright CUV that came before it. Yet, as we covered in our original post, the new Tig is also over 100 pounds lighter. The bodywork is conservative but handsome; typical of newer VWs. We see plenty of Passat and Touareg in the fascia, which features a three-bar grille that integrates neatly with the slightly canted, rectangular headlights. The beltline looks higher than today's Tiguan, and sits below a more aggressive greenhouse, which is a welcomed change after the soft, crossovery looks of the last-gen model. While VW has only released European powertrain options – there are eight engine options, split evenly between gas and diesel and boasting anywhere from 123 to 237 horsepower – we'll expect a far smaller roster for the US. Look for VW's familiar 2.0-liter, turbocharged four-cylinder to feature prominently in both front- and all-wheel-drive models, while we're personally hoping VW will see the light and offer a 2.0-liter TDI Tiguan. Of course, there's more than just gas and diesel for the new Tiggy. The all-new GTE model promises plug-in capability. Expect 31 miles of electric range and 215 system horsepower. There are even solar panels on the roof which could generate up to an extra 600 miles per year of driving range. VOLKSWAGEN REVEALS ALL-NEW EUROPEAN TIGUAN AT THE FRANKFURT INTERNATIONAL MOTOR SHOW Based off the MQB platform, the new European Tiguan revolutionizes the compact SUV • Powerful, authentic SUV design of the new Tiguan was completely reconfigured. • Tiguan is the first Volkswagen Group SUV to be based on the modular transverse matrix (MQB). • Longer, wider, lower – new vehicle architecture enables sportier proportions • Tiguan makes its debut at the IAA in an R-Line version, a classic on-road version and a version with an off-road front end. • Volkswagen is also showing the Tiguan GTE in Frankfurt with a plug-in hybrid drive and 1.9 litre per 100 km fuel consumption. • Newly conceptualised solar roof module for the Tiguan GTE increases its electric driving range. • Front Assist with City Emergency Braking and Pedestrian Monitoring, active hood, Lane Assist and the Automatic Post-Collision Braking System are fitted as standard.

Happy 60th to the VW Karmann Ghia

Volkswagen's product portfolio may be as extensive these days as any other carmaker in the business. But if you still think of the original Beetle as synonymous with the brand, that's probably because a) you're old and b) the Beetle was the company's only product until the mid-50s.
Sixty years ago Wilhelm Karmann (founder of the eponymous coachbuilder) was in Paris for the auto salon and met up with Luigi Segre and his team from Carrozzeria Ghia who showed him what was essentially a "Beetle in a sports coat." A month later they showed it to Volkswagen chief Heinrich Nordhoff who, setting aside his conservative tastes, approved it for production. And so the Volkswagen Karmann Ghia was born, giving the German marque a second product line. It still used Beetle mechanicals and was built at the same Karmann factory in Onsabrück that was already assembling the Beetle Cabriolet.
It took another couple of years to put the design into production, but from 1955 to 1974, Volkswagen and Karmann built 362,601 coupes and 80,881 of the subsequent convertible that arrived in 1957. Today the Onsabrück factory is part of the VW Group, handling production of the Golf Cabriolet, XL1 and Porsche Boxster and Cayman, and with that original Karmann Ghia prototype as part of its factory collection.