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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.

Delphi thrilled with results from autonomous car's cross-country trip

In the first trip across the United States ever made by an autonomous car, engineers from Delphi Automotive were surprised to learn that, in some cases, their vehicle behaved a lot like a human driver. "The car was scared of tractor trailers," said Jeff Owens, the company's chief technology officer. "The car edged to the left just a little bit when it would pass trucks, and that was an interesting observation." Engineers made hundreds of notes throughout the drive, as the autonomous car covered 3,400 miles through 15 states en route to a showcase near the New York Auto Show. Overall, company officials said the car performed better than anticipated in a variety of road and weather conditions. In the course of the cross-country drive, drivers actually controlled the car only for about 50 miles, and those cases were limited to on-and-off ramps and the occasional construction zone where lanes were not marked or only sporadically marked. The purpose of the trip was to glean information on how the autonomous car worked in a real-world environment. Google and others have tested autonomous cars and autonomous features in select real-world environments before, but Delphi's adventure was the first to trek into a test with such varied challenges over a nine-day trip that began near the Golden Gate Bridge on March 22. There are some things the engineers have already learned, like the fact the camera systems had the occasional blip when the sun-angle was low. And there are some things to still be learned, as they pour over three terrabytes worth of data from cameras, radar and lidar sensors in the weeks ahead. "It's going to take us a couple weeks to digest all this," Owens said. "But we had all the data from tests. It was time to put this on the road." Built into an Audi SQ5, the vehicle was striking, if only for the fact it looked like a normal car. Many other autonomous vehicles have quirky sensors atop the roof or other features that make them stand out as experiments. Delphi arranged this one to look as much like a normal car as possible, right down to stowing an army of computers under cargo mats, so the rear contained as much trunk space as the production model. If a fellow motorist didn't know where to look -- or take the time to notice the person in the driver's seat didn't have their hands on the wheel -- there was no reason to suspect this was anything other than a regular car.

Volkswagen may soon have remedy for more cheating diesels

Nearly a half-million motorists who own Volkswagens equipped with 2.0-liter engines have known for a few weeks the company might wind up buying back their vehicles as part of a settlement surrounding the company's emissions cheating. But about 85,000 drivers who own similarly afflicted diesels with 3.0-liter engines have been stuck without a remedy. They may not be waiting much longer. Bloomberg reports that Volkswagen will soon propose a fix for vehicles, including those from Audi and Porsche, equipped with 3.0-liter engines that will include new software and a new catalytic converter for the vehicles. Discussions with federal regulators are ongoing, according to the news outlet. "We are cooperating with the regulatory agencies and working with them on an approved solution," says Audi spokesperson Mark Clothier. "Beyond that, we cannot comment on ongoing investigations." Regulators have alleged that the company's 3.0-liter engines contain "defeat devices," illegal software that allows a vehicle to detect when it's undergoing an emissions test and turn off pollution control during real-world driving. The defeat device allows these vehicles to increase emissions of nitrogen oxide up to nine times the Environmental Protection Agency's allowable threshold. Affected 3.0-liter vehicles include the 2014 Volkswagen Toureg, 2015 Porsche Cayenne and the 2016 Audi A6 Quattro, A7 Quattro, A8, A8L and Q5. Volkswagen is slated to finalize its plans for buying back the afflicted 2.0-liter cars and potentially offer those motorists "substantial compensation" for their troubles by June 21, and it's possible that a formal announcement on the 3.0-liter vehicles would come at the same time. Related Video: