2012 Buick Lacrosse Convenience on 2040-cars

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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.

Junkyard Gem: 1982 Buick Riviera Diesel Coupe

After appending the Riviera name to various cars during the 1950s, Buick finally made the Riviera a model in its own right for the 1963 model year. Seven more generations of Buick's rakish personal luxury coupe followed over the next 36 years, but only one ever had an oil-burning engine available from the factory. Today's Junkyard Gem is one of those cars, a vividly purple '82 Riviera with 105 horses of Oldsmobile diesel power under its hood, found in a Denver-area self-service boneyard recently. Starting in the 1966 model year, the Riviera had been living on the same platform as the Cadillac Eldorado and Oldsmobile Toronado, both of which featured radical front-wheel-drive powertrains that used longitudinal V8s powering the front wheels via sturdy chains. However, despite the common platform, the Riviera alone kept the then-traditional front-engine/rear-drive setup, making it something of a corporate oddball for the next 12 years. Then General Motors decided to downsize the Eldorado/Toronado platform for the 1979 model year, and the Riviera got those cars' front-wheel-drive rig at the same time. Sales of the smaller Rivvy were strong, no doubt due in large part to certain geopolitical events that sent gas prices skyward and caused fuel rationing and gas lines. Back in the late 1970s and early 1980s, diesel fuel was much cheaper than gasoline in the United States. Mercedes-Benz and Peugeot had done reasonably well selling diesel-engined cars here during the 1970s, and so General Motors developed a diesel-burning version of the Oldsmobile 350-cubic-inch (5.7-liter) V8 engine. As was typical of naturally-aspirated automotive diesels of the time (every modern car's diesel engine is turbocharged), horsepower was miserable but torque was strong; the engine in this car was rated at 105 horses and 205 pound-feet. The 5.7 diesel first showed up in the Riviera for the 1981 model year. The base engine was a 4.1-liter version of the Buick V6, while the oil-burning Olds cost an extra $924 (about $3,206 in 2023 dollars). A comfortable and smooth-riding Riviera with the cheap fill-up price and long range of diesel sounded great, even if you had to line up with Freightliners and Peterbilts to get to a pump, but there were problems. Oh, so many problems! Oldsmobile's 350 V8 had been around since 1968 and it had proven to be both reliable and powerful.

The Chevrolet Bolt is headed to China as a Buick SUV

When spy photos of what appeared to be Chevrolet Bolt EV with some minor front- and rear-end updates circulated last week, Autoblog surmised that GM was working on some sort of Bolt-based vehicle — potentially a crossover — to be sold in China as a Buick. We may just have corroboration for that theory. On Thursday, Motor1.com spotted a story published earlier this week on the Chinese site Auto Home which claims that GM has applied to sell an all-electric SUV under the Velite 7 nameplate in China.  There's little differentiating the Velite 7's exterior from the Bolt EV's, apart from bumpers, badges, and a little extra ground clearance. Up front, the bowtie is replaced by a round Buick badge, and the bumper picks up an almost Prius-like appearance thanks to contrasting vertical elements and a thin grille bleeding into the head lights to give it a full-width appearance. Chevy Bolt-based prototype View 16 Photos If the Chinese report is accurate, there is one significant difference under the skin. Per the application, the Buick crossover variant is to be powered by a 174-horsepower electric powertrain. That's down 26 horsepower from the Bolt EV's powertrain, and we can't help but think that a lifted Buick variant might just need every pony it can get.  The needs of the Chinese market are unique, and we're certain GM knows what it's doing if these figures are accurate. We have no reason to believe Buick plans to sell the Velite 7 EV here in the States, though we expect an updated Chevy Bolt eventually, and we wouldn't be surprised if Buick brings something along shortly to fill the void left by the departure of the Regal sedan and its variants.  Related Video: