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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.

Driving the Toyota Supra, Honda Passport and BMW 3 Series | Autoblog Podcast #582

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Green Editor John Beltz Snyder and West Coast Editor James Riswick. First, they talk about the cars they've been driving, including the Honda Passport, BMW 330i and Audi RS5. They follow up with notes about driving the Toyota Supra and 86, and whether Toyota's new sports car strategy makes sense. Then they discuss the news, including the Ferrari SF90 Stradale plug-in hybrid, a possible Renault-FCA merger, death rumors for the Jaguar XJ and thoughts on the upcoming Chevy Trailblazer. Autoblog Podcast #582 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2019 Honda Passport 2019 BMW 330i 2019 Audi RS5 Sportback Toyota Supra, 86 and the company's sports car strategy In the news: Ferrari SF90 Stradale FCA and Renault Jaguar XJ going away? Chevy Trailblazer Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

Audi introduces frugal, 43-mpg Q7 Ultra in Europe

As Audi's largest model, you wouldn't expect the Q7 (standard 2017 model pictured above) to get very good fuel economy. But the new flagship crossover is a lot lighter than its predecessor. And now the German automaker is rolling out an even more efficient version. In Europe, at any rate. Bearing the designation that distinguishes the most fuel-efficient models that Audi offers, the new Audi Q7 Ultra 3.0 TDI Quattro packs a more frugal version of the 3.0-liter V6 turbo diesel. In Ultra spec, it produces 218 horsepower instead of 272, and 369 pound-feet of torque instead of 443. In exchange, it returns better fuel economy – now quoted at the equivalent of 42.8 miles per gallon (compared to 41.3 for the more potent version). That's not half bad for a crossover this large, even if it is on the European efficiency test, which returns higher numbers than what we're used to in the US. Of course, burning less fuel comes at a bit of a performance penalty: instead of 6.3 seconds, it now takes 7.1 seconds to reach 62 miles per hour from a standstill. Top speed is quoted at just over 134 miles per hour, down from 145. Of course, the E-Tron hybrid will be the most efficient model in the Q7 range, returning the equivalent of over 117 miles per gallon while reaching 62 in six seconds flat. That is, when it starts reaching dealers next spring. The kicker here is that while the hybrid is likely to emerge as the most expensive model in the range, the Ultra is the least. Its base price in Germany comes in at 58,000 euros, compared to 61,890 for the more potent TDI. Combine that with the fuel savings, and the Q7 Ultra is looking like the frugal choice indeed. New Audi Q7 as a highly efficient diesel - The Audi Q7 ultra 3.0 TDI quattro now available for order - Combined fuel consumption is 5.5 liters of fuel per 100 km - Base price is 58,000 euros in Germany An exceptionally efficient diesel version of the new Audi Q7 is launching on the market, which customers can now order: the Audi Q7 ultra 3.0 TDI quattro*. This engine not only reduces fuel consumption to 5.5 liters diesel per 100 km (42.8 US mpg); it also reduces the entry-level price for the Q7 model series to 58,000 euros. Audi will be delivering cars to dealers in Europe starting in September. The efficiency is ground-breaking: The combined fuel consumption of the 3.0 TDI with 160 kW (218 hp) is just 5.5 liters of fuel per 100 km (42.8 US mpg).