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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.

2024 Buick Envision previewed with new design, Super Cruise technology

The second-generation Buick Envision will enter the 2024 model year with an array of updates inside and out and Super Cruise hands-free technology. While the model won't make its full debut until later in 2023, an official preview image gives us a good idea of what to expect. Buick designers gave the Envision's front end a complete overhaul; this is not a subtle nip-and-tuck. The crossover gets a bigger grille positioned lower on the front fascia, bright trim, and the new Buick emblem on its hood. The headlights are now integrated into the bumper, Jeep Cherokee-style (or Citroen-style, depending on where your automotive references lie), and LED daytime running lights replace the outgoing Envision's headlights. The revamped look brings the Envision in line with other recent additions to the Buick range, like the Encore. We'll need to be patient to find out what the rear end looks like, though the overall proportions haven't significantly changed. Similarly, Buick hasn't released photos of the interior yet. We're guessing that infotainment- and trim-related changes will be part of the 2024 updates. The updated Envision will bring the Super Cruise technology already available in several General Motors products, including the Chevrolet Tahoe, to the Buick brand for the first time. Likely offered as an option with a four-digit price tag, the system will allow drivers to take both hands off the wheel when the right conditions are met; the car notably needs to be on a highway that General Motors has mapped. Super Cruise won't make the Envision autonomous, the driver will need to remain focused on the road ahead and ready to take over if needed, but it should make long trips less tiring. As of writing, General Motors has mapped over 400,000 miles of roads in the United States and Canada. Built in China, the 2024 Buick Envision will go on sale across the nation before the end of 2023. More details about it will emerge in the coming months. It's too early to tell what's next, but the company promised it will unveil two additional new vehicles before the end of 2024.

Driving Volvos on ice, and the 2025 Toyota 4Runner is almost here | Autoblog Podcast #826

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. The two kick things off by talking about what they've been driving, including the 2025 Volvo EX30 (on ice), 2024 Lexus LC 500h and 2024 Lexus TX 350. After the review section, it's time for the news. The impending 2025 Toyota 4Runner reveal is dissected; a new Buick Envision arrives, and Tesla has a rough quarter. Once the pair finish with the news, they move on to discuss the current state of affairs in Formula 1 and give a quick rundown of the New York Auto Show Editors' Picks. Finally, the show finishes with a great Spend My Money segment where a listener is trying to find a new car that might be able to take down their brother's BMW M5. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #826 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2025 Volvo EX30 2024 Lexus LC500h 2024 Lexus TX 350 News Toyota 4Runner teased 2024 Buick Envision revealed Tesla has a rough first quarter Formula 1 check-in NY Auto Show Editors' Picks Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts New York Auto Show Buick Lexus Tesla Toyota Volvo Coupe Crossover SUV Electric Hybrid Luxury Off-Road Vehicles Racing Vehicles Performance Podcasts