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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.

It's a good time to get a great deal on a new sports car

Anyone who regularly follows our reporting on the biggest discounts on new cars already knows that the largest sums of money are generally lopped off the sticker prices of the priciest vehicles. It just makes sense. The formula holds true in April, with the 2020 Audi R8 leading the way. It's important to note that the Audi R8 comes in both coupe and convertible flavors and, despite coming standard with a V10 engine, multiple power levels. On average, customers are paying $18,551 less than the R8's $191,136 sticker price. That's nearly 10% off, with the average out-the-door price hovering at $172,585. Up next is the 2020 BMW M8, a vehicle we've grown used to seeing on this list. It's sold in hardtop, convertible and four-door Gran Coupe body styles, and when you average out all of its transactions, buyers are scoring discounts of $16,930 with an average transaction price of $139,891. That's 10.8% off the German car's sticker price. Another familiar face is in third place this month. The 2020 Acura NSX often leads the biggest-discounts list, and even though it's fallen a bit behind in the savings race, we doubt buyers who see $16,675 cut off the sticker are complaining. With an average transaction price of $143,013, that discount equals a savings of 10.4%. For a look at the best new car deals in America based on the percentage discount off their suggested asking prices, check out our monthly recap here. And when you're ready to buy, click here for the Autoblog Smart Buy program, which brings you a hassle-free buying experience with over 9,000 Certified Dealers nationwide. Related video:

2016 Audi R8 E-Tron packs 456 hp and goes on sale this year

For the longest time, the Audi R8 E-Tron seemed like such a fantasy, we never really though it'd come to fruition. But it's here, in second-generation R8 form. It's really, actually, finally here. It looks like a electrified R8, too, with oversized, EV-spec wheels, and a revised front fascia that lends itself well to the more chiseled design of Audi's mid-engine coupe. Thanks to that nice shape and those air-slicing wheels, Audi has achieved a drag coefficient of 0.28 for the R8 E-Tron. The 92-kWh, T-shaped battery is actually integrated into the center tunnel behind the passenger compartment, so it helps with the car's weight distribution and center of gravity. The two electric motors are mounted at the rear. As for the specs, things look awesome: 456 horsepower, 679 pound-feet of torque, 0-62 in 3.9 seconds, top speed of either 130 or 155 miles per hour, a range of 280 miles and a charging time of less than two hours. And it's going on sale. Like, for real. Audi's press blast clearly states, "Upon customer request, the R8 E-Tron will be available for order in 2015 as an electrically powered sports car in supreme hand-built quality." Consider us stoked. Electrified: Audi R8 e-tron The second generation of the Audi R8 forms the basis for two more models. Audi has made major engineering developments in its high-performance electric sports car, the R8 e-tron. The latest evolution of the vehicle takes up the multimaterial Audi Space Frame from the new series-production model. The supporting structure was enhanced by a CFRP rear-section module comprising the luggage compartment. The walls of the CFRP luggage compartment well are corrugated. This way, in the event of a rear-end collision, more energy can be absorbed despite the reduced material weight. Thanks to targeted modifications to the outer shell and on the wheels, the Audi R8 e-tron achieves an aerodynamic drag coefficient (cd) value of 0.28. In terms of performance and range, the car enters entirely new dimensions. The large T-shaped battery is structurally integrated into the center tunnel and behind the occupant cell – optimally positioned in the car. It supports the dynamics of the R8 e-tron with its low center of gravity. Audi produces the high-voltage battery itself, for the first time based on a newly developed lithium-ion technology which was specially conceived for a purely electric vehicle drive.