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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.

GM may have teased a whole group of electric vehicles

During GM's big CES press conference, the automaker highlighted a number of its upcoming electric car-related projects from delivery vans to the upcoming flagship Cadillac Celestiq. In the middle of it all, a collection of mystery cars sat in the background behind speakers. They were in the dark, lit only with their running lights, and while it's possible they're just generic filler cars or concepts, we think they could be future products. Our best shot of the cars together is shown above, and we can pretty easily identify three of the vehicles. In the center is obviously the GMC Hummer EV. On either side of it are Cadillacs. To the left seems to be the Lyriq crossover, and to the right is the Celestiq sedan. Two of these cars have production dates, and the third has been confirmed for eventual production, just without timing. This is why we think the rest of the cars are upcoming models. The next most easily identified car is on the near right behind the Cadillac Celestiq. It very clearly has a Chevy bowtie illuminated in the running lights. And looking closely, it appears to be a pickup truck. It's difficult to make out anything more than that. The nose does look a bit more rounded and swept back than the brick-like designs of the Silverado truck line. That also squares with what seemed to be the upcoming truck that appeared in the background of yet another GM presentation. GM previously said this electric Chevy truck will be a full-size model with up to 400 miles of range. That leaves us with three more mysterious models. Over to the left behind the Cadillac Lyriq are what appear to be a pair of crossovers. The one on the far left looks low, curvy, and possibly with a fastback roof. The one on the right is taller, boxier, and probably more of a full-size people hauler. It's hard to say much more beyond that. They could be new electric Buicks, which would fit in nicely with that brand's crossover portfolio, and would likely be highly successful in China, where Buicks, crossovers and electric cars are all rather hot commodities. As for the mystery car on the far right, it's quite a puzzle. We can at least rule out Buick and Cadillac, and GMC since it's definitely a car, and a rather small one compared with the other cars on display. That leaves Chevy, and possibly the autonomous division Cruise. We're leaning toward it being a Chevy, since the first Cruise vehicle is going to be a boxy pod of sorts.

Cadillac gives enthusiasts an early look at its next high-performance sedans

Cadillac will introduce a pair of sport sedans named CT4-V Blackwing and CT5-V Blackwing, respectively, at 7 p.m. Eastern today (February 1). While car companies routinely drum up excitement for new models by releasing tightly-cropped or blacked-out images, Cadillac surprised us with a photo, and a TV spot that aired during the Rolex 24 at Daytona, that shows both cars in their entirety. Somewhat confusingly, the CT4-V and the CT5-V are not direct replacements for the ATS-V and the CTS-V; they're mid-range models, and they're powered, equipped, and priced accordingly. It's these flagship Blackwing variants that will pick up where the last-generation Vs left off with a significant bump in power, numerous chassis tweaks, and a more aggressive-looking design. They'll arrive in showrooms in time for the 2022 model year. Blackwing drivers won't draw unnecessary attention to themselves, because the visual changes are relatively subtle. Riding on model-specific wheels, the CT4-V Blackwing gains bigger air intakes on the front end, vents punched into the fenders, and a low-key body kit that adds a front splitter, front winglets, and a trunk-mounted spoiler. Cadillac gave the CT5-V a similar treatment, and it mounted the rear wheels on surprisingly wide tires. Cadillac pointed out the Blackwing sedans benefit from the world's fastest-reacting suspension system. It's likely the fourth evolution of its magnetic ride control technology, which it detailed in October 2020.  While full specifications remain under wraps until the duo's unveiling, we know that both sedans will be available with a six-speed manual transmission. It's reasonable to assume that an automatic (likely the familiar 10-speed) will be offered as well. As for what's under the hood, our crystal ball tells us that the CT5-V will land with a V8 engine, though it won't be the short-lived twin-turbocharged Blackwing unit that gave both cars their name. Enginers might have selected an evolution of the CTS-V's 6.2-liter. As for the CT4-V, it will receive the ATS-V's 3.6-liter turbocharged V6. Both models will be exclusively available with rear-wheel-drive. Enthusiasts who want to secure an early built slot will have the chance to reserve a 2022 CT4-V Blackwing or a 2022 CT5-V Blackwing by visiting Cadillac's website shortly after the sedans are unveiled on February 1. As we previously reported, the first 250 units of each car will wear a numbered plaque on the steering wheel.