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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.

2016 Hennessey CTS-V is properly ridiculous with 1,000 horsepower

We truly live in a halcyon era of automotive performance with models like the latest Shelby GT350 Mustang and 707-horsepower Challenger Hellcat. And now Hennessey Performance Engineering is bringing something with absolutely obscene power to the world with its tuned 2016 Cadillac CTS-V that packs a ludicrous 1,000 horsepower. The latest CTS-V isn't even on sale yet but should be a powerhouse straight from the factory. Under its carbon fiber hood is a 6.2-liter supercharged LT4 V8 with 640 horsepower and 630 pound-feet of torque that makes the sedan capable of a 200-mile-per-hour top speed. Hennessey's take ditches the blower in favor of two turbos to feed air to the engine. To cope with the extra power, the mill gets upgrades like forged aluminum pistons and forged steel parts for the rods and crankshaft, and transmission upgrades are also necessary to make it all work. Buyers can even spec things like carbon-ceramic brakes and a widebody kit to allow for bigger tires. The crazy numbers are leading to some big performance claims from company founder John Hennessey. "I believe that our 2016 Twin Turbo CTS-V will have a top speed approaching 240 mph," he said in the Caddy's announcement. Hennessey is building just 24 of these 1,000-horsepower sedans for the 2016 model year. However, for those that want to keep the supercharger under the hood, the company is also offering upgrades with 750 hp and 800 hp for the CTS-V too. All of them sound absolutely ridiculous in an utterly fantastic way. 2016 HPE1000 Twin Turbo Cadillac CTS-V Texas Tuner Plans to Build World's Fastest 4-Door Sedan Sealy, Texas-When the next generation Cadillac CTS-V hits the streets later this year, it will have 640+ hp and a top speed of nearly 200 mph. To the team at Hennessey Performance Engineering (HPE), this is a good starting point. The company plans to pick-up where they left off with the last gen CTS-V by producing the world's fastest 4-door sedan: The Hennessey HPE1000 Twin Turbo CTS-V. "A couple of years ago, the State of Texas gave us the opportunity to test one of our specially tuned CTS-Vs – our VR1200 Twin Turbo coupe. It ran 221 mph (356 km/h) on State Highway 130, near the Circuit of the Americas", said company founder, John Hennessey. "It was still pulling on when we ran out of road. I believe that our 2016 Twin Turbo CTS-V will have a top speed approaching 240 mph (386 km/h)". Hennessey plans to offer a limited run of only 24 units for the 2016 model year.

Reservations for Cadillac CT4-V and CT5-V Blackwing models to open in February

Cadillac will unveil its high-performance CT4-V Blackwing and CT5-V Blackwing sedans on Feb. 1 and will accept reservations for the cars the same day. Only 250 examples of each car will be built for 2022, and immediately after the reveal, customers can secure one of these Caddies with a $1,000 deposit, which is refundable. Deliveries are set to begin in mid-summer. As a special enticement, those first 250 cars will get a numbered plaque on the steering wheel, which indicates the model, transmission, and build sequence. Note that the plaque comes only on cars equipped with the high-performance steering wheel, which based on the teaser image below appears to have carbon fiber accents. It's standard on the CT5-V Blackwing and included on mid-level and higher versions of the CT4-V Blackwing. We already know that the CT5-V Blackwing will be available with carbon fiber seatbacks. More exciting news is that Cadillac will buck the prevailing trend and offer a six-speed manual transmission as standard equipment in both cars. A 10-speed automatic also will be available. It's not yet known what engine will power the sedans, although it's not expected to be the eponymous 550-hp Blackwing V8 that had an abbreviated run in the just-discontinued CT6-V. Cadillac has also announced that Blackwing buyers can avail themselves of a 2-day high-performance driving school experience at Cadillac's V-Series Academy at the Spring Mountain Motor Resort in Pahrump, Nevada. They're on their own as far as getting there, however. The unveiling of the two new Blackwings on Feb. 1 will take place at the brand's main website as well as its Twitter page. Related Video: