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Automakers, dealers are rushing cars to Houston after Harvey

DETROIT — Houston-area car retailers and automakers are rushing to reopen dealerships and beef up inventory to replace many hundreds of thousands of vehicles damaged in flooding from Hurricane Harvey. Pete DeLongchamps, vice president for manufacturer relations at Group 1 Automotive, the third-largest U.S. auto dealer group, said the company prepared for the storm with a plan designed after Hurricane Katrina in 2005. This included moving moved inventory to higher ground and cleaning roof drains to avoid cave-ins. Group 1 thus lost a "relatively small percentage" of inventory and reopened its roughly 25 dealerships in the Houston and Beaumont area by Thursday. "Things have been moving fast and furious with a large number of tow-ins already," DeLongchamps said. "Our customers have lost a lot of vehicles, we need to help them replace." Harvey brought record flooding to Houston and killed at least 35 people. The storm is expected to briefly depress already slowing U.S. auto sales but could eventually help boost demand as damaged cars are replaced. Automakers report U.S. August sales on Friday. Estimates for the number of Harvey-damaged vehicles needing replacement range up to 500,000. By Thursday, AutoNation, the largest U.S. auto retail chain, had reopened its 17 Houston stores and is moving cars and trucks from other regions, company spokesman Marc Cannon said. The company plans to move 500 to 1,000 used cars to an AutoNation USA used car store and stage a sale Sept. 21-23, when many would-be buyers should have insurance checks to replace destroyed vehicles, Cannon said. AutoNation is still assessing how many vehicles it lost, but it too moved vehicles to higher ground ahead of the storm. General Motors spokesman Jim Cain said the number of damaged vehicles at dealerships "is relatively modest." "But there are still several dealerships that are inaccessible, so the number will increase," he said. GM will move new and used vehicles to Houston, "but it won't be done until the infrastructure and our dealers are ready." Ford is still assessing damage and inventory needs, a spokeswoman said. CarMax, the biggest U.S. used car dealer, will reopen its six Houston area stores on Labor Day, spokeswoman Claire Hunter said. "We are mobilizing additional inventory to the region as we speak," Hunter said. Paul Lips, chief operating officer at ADESA, a unit of KAR Auction Services Inc., which with Manheim dominates the U.S.

American automakers fall in latest Fortune 500 rankings

Not that it means anything beyond bragging rights, but if you're fixated on the positions of domestic automakers on the annual Fortune 500 list, both General Motors and Ford are still on it but they've slipped a couple of notches. The list ranks American companies and they're ordered solely by revenue. GM, fifth last year, came in seventh, while Ford fell from ninth to tenth even though both companies saw small gains in annual revenue.
GM's $152.3 billion in revenue was less than a third of that of the first company on the list: Wal-Mart, which regained the title from Exxon Mobil. Berkshire Hathaway and Apple are the firms that moved GM down. Ford, displaced by energy company Valero, had $134.3 billion in revenue.
On a side note, profitability isn't a factor, but both GM and Ford were down in this year's list compared to last year's: GM declined from $9.2 billion to $6.2 billion, Ford fell from $20.2 billion to $5.6 billion. If profits were included, Exxon Mobil would probably still be king: although the energy company made almost $20 billion less in revenue than Wal-Mart's $469.2 billion, it posted $44.9 billion in profit compared to Wal-Mart's $17 billion.

We drive the 2016 Ford F-750 Tonka dump truck

The Ford F-750 dump truck stands nearly 10 feet tall and is painted bright yellow. It idles patiently yards away from Ford's test track in Dearborn, MI. "Tonka" is emblazoned on the sides. We pose the obvious question to Ford marketing manager Mark Lowrey: Why do this? "We built this truck to get attention," he replies. And indeed it does. Ford revealed the 2016 F-750 Tonka dump truck in March at an industry show, underscoring that the Blue Oval is back in the business of big trucks after years of teaming with Navistar in a joint venture. The new F-650s and F-750s start rolling off the line at a factory near Cleveland this summer, and the order bank is open now. The trucks come in regular, super, and crew cabs and offer three states of tune for the 6.7-liter Power Stroke V8 turbo diesel, plus a gasoline-fed 6.8-liter V10. Naturally, the Tonka has most powerful diesel mill, with 330 horsepower and 725 pound-feet of torque. The Tonka edition is a paint-and-sticker one-off that Ford is using as a promotional tool. You can't buy one, and it will be touring shows and events throughout the year. Lowrey notes that it calls attention to work trucks in a positive way. The general public usually only sees them when the trucks are blocking the road or making too much noise at a construction site. Tonka trucks, on the other hand, conjure up happy childhood memories. "We're going to do something where someone's going to see this truck and smile," he says. It's hard not to grin as we climb into the cabin of this monster truck. It has a 33,000-pound gross vehicle weight rating and can carry five yards worth of dirt. We're not doing anything like that today – just puttering around Ford's handling circuit inside its product enclave. The course is closed, so even though this track is better suited to calibrating Mustangs, F-150s, and well, almost anything but a dump truck, we're totally relaxed. We depress the button to release the parking brake and are off. The truck is surprisingly easy to drive. The vision ahead is excellent – makes sense, we're nearly one story off the ground, after all. The cabin is simple and cleanly laid out. It looks like a Ford truck, regardless of the size. The diesel engine has a lot of grunt. We can feel the torque. The steering is light, and we have to stomp on the air brakes to slow this thing down. We go 'hot' into a tight corner just for fun. It's not really that fast, but it raises the eyebrows of our film crew, which is set up nearby.