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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.

Audi A3 G-Tron offers big range, few emissions

Audi is exploring a variety of sustainable transportation technologies beyond the traditional diesel, hybrid, plug-in and electric options, including the compressed natural gas A3 Sportback G-Tron that debuted today at the Geneva Motor Show.
The most interesting thing about this rather innocuous-looking A3 Sportback is that when run on Audi e-gas, the car becomes completely carbon neutral, emitting no more CO2 than was chemically input in this special fuel's production. Audi has already broken ground on a new plant - powered by renewable energy, of course - that uses electrolysis to produce e-gas, which could then be made available through any natural gas distribution network.

Next Audi A7 redesign will include more traditional rear end

A report in Automobile says that Audi is rethinking the design of the next A7. Audi told Car and Driver that owners "have trouble with the radical tail of the A7," so its model-defining rear end will give way to something more traditional. Automobile is light on specifics of the redesign, but the general direction is "a lower, wider, and more expressive shape." The philosophy behind the dimensions and styling is a "C/D shift," meaning Audi wants to give its C-segment hatchback the bearing, gravitas, and visual delight of a D-segment vehicle. That would help the A7 stand out from its in-house competition, and could make for higher transaction prices. Having heard about different design directions from Audi for years without much in the showroom to back it up, we could define what we'd love to see in two words: more Prologue. This is Audi, so you know the next A7 will be packed with tech. We expect an emphasis on touchscreen interfaces, a digital dash cluster a la the TT that moves with the steering column, a HUD with night vision, and an MMI system a few more steps down the evolutionary trail. Engines will see some upgrades like the addition of a plug-in hybrid, the excellent 2.0-liter, turbocharged four-cylinder getting a 74-horsepower e-boost assist to 326 horsepower, the 3.0-liter V6 slated for the S7 rising to 500 hp, and the 4.0-liter V8 in the RS7 pumping out 575 hp.