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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.

New European charging network will offer speeds up to 350 kW

It's about to get easier to fast-charge your electric vehicle across Europe thanks to four major automakers working together in a new joint venture. BMW, Daimler (Mercedes-Benz), Ford, and the VW Group (Audi and Porsche) have all signed a Memorandum of Understanding to install about 400 DC fast charging sites in Europe. As you may know, there are different types of fast chargers, but the ones that this group is talking about installing will be able to charge an EV in much less time than other stations. That's because these chargers will offer power levels of "up to 350 kW." Compare that to what's generally considered the current gold standard, the Tesla Superchargers, which have rates of up to 145 kW and a statement not that long ago from a Ford exec that suggested that 150 kW chargers would be the new normal. Of course, the Tesla chargers use the company's proprietary connector and the new network the JV is setting up will use the CCS standard. The first new stations will go up in 2017 and those 400 sites are just the beginning. A joint statement by the JV says that EV drivers will "have access to thousands of high-powered charging points" by 2020 along highways and main roads. "The charging experience is expected to evolve to be as convenient as refueling at conventional gas stations," the companies said. While not every electric vehicle will be able to take advantage of the 350 kW charging rate, the companies involved would be silly to build the infrastructure without vehicles that can handle that kind of energy flow. The JV says it would welcome participation from other automakers and will cooperate with interested regional partners. Related Video: News Source: Daimler Green Audi BMW Ford Mercedes-Benz Porsche Volkswagen Electric fast charging

Next-gen Audi S7 looking hot in Southern Europe

Development on the next-gen Audi S7 is in full swing. The handsome hatchback is still popular, even if it is starting to show its age, so we have high hopes for the new model. We have some new spy photos of the car performing hot-weather testing in Southern Europe. We don't have many details or a firm release date, but there are a few things we can pull from these pics. The new model looks like it will retain the same general shape as the current one. That's a good thing, as the A7 is one of the best looking vehicles on the market. The long and flowing roof, frameless doors, and long wheelbase all look to be present. There are hints of the Audi R8 from the A-pillar forward while the large grille looks exactly like the on new Audi A8. Many of these design elements are straight off of the Audi Prologue concept from a few years back. Like other Audi S models, the S7 has a wide bumper with large intakes at the bottom corners. A chin spoiler appears to channel air down under the car. Around the side, we can see big wheels and brakes. There are side skirts along the bottom. Out back, it has the requisite quad exhaust tip, a dead giveaway that this is an S model. Lighting both front and rear appears to be LED. What rests under the hood is arguably the car's biggest mystery. We can count on Quattro all-wheel drive and an eight-speed automatic, but we don't know if it will have a turbocharged V6 or V8 under the hood. At this point, both seem equally likely. Horsepower and torque should both be in the mid-400 range while 0-60 mph times should be around 4.5 seconds. Look for more news this fall. Related Video: Featured Gallery Audi S7 Spy Shots View 12 Photos Image Credit: CarPix Spy Photos Audi Luxury audi s7