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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.

Redesigned 2021 GMC Yukon gets a diesel, AT4 model, Denali-exclusive interior

GMC's most robust family hauler is getting a complete redesign for the 2021 model year, including a new, off-road centric AT4 model, an upscale interior exclusive to its luxurious Denali model, an available air suspension, and, last but not least, a diesel engine.  With Americans obsessing over trucks, it's no surprise that GMC is going hard with its AT4s-for-everybody strategy; the Yukon is no exception. This will be the first model year for the new trim on GMC's largest SUV. This off-road model gets all the goodies you'll need to veer off the beaten path with confidence, including an extra 2.0 inches of ground clearance with the adaptive suspension option (more below), a two-speed transfer case, standard Goodyear all-terrain tires, an off-road mode for GMC's "Traction Select" drive mode system, hill descent control, and some extra underbody skid plates. Since GMC is a premium brand, even the AT4 gets some luxury appointments, such as a heated steering wheel, heated and ventilated front seats, and heated outboard second-row seats. The interior is also adorned in black leather with tan accents and "AT4" embroidery in the seat backs.  Speaking of premium, GMC will introduce an air-ride adaptive suspension with an off-road ground clearance mode as a late-availability option for several Yukon models, and this feature will be included on the Denali trim.  The Yukon and Yukon XL are GMC's variants of Chevrolet's full-sized SUVs, the Tahoe and Suburban. Their fundamental body-on-frame architecture is also shared with GM's half-ton pickup trucks, and thanks to that common engineering, they can also share powertrains. That's normally just a trivial side note when it comes to a new GM SUV announcement, but this time around, it's a bit more meaningful thanks to the introduction of a new light-duty, inline-six diesel in GM's truck lineup last year.  Yep, that means that for 2021, like the Tahoe and Suburban, the Yukon is getting a diesel option. The 3.0-liter Duramax makes the same 277 horsepower and 460 pound-feet of torque as it does in GM's trucks.  GMC's standard engine is still the 5.3-liter V8 that makes 355 hp and 383 lb-ft of torque. The 6.2-liter V8 is also an option like before, producing 420 hp and 460 lb-ft of torque. All engines come with a 10-speed automatic and a choice of rear- and four-wheel drive.

NHTSA investigates 1.7 million GM SUVs for windshield wiper failures

WASHINGTON - The U.S. National Highway Traffic Safety Administration (NHTSA) said on Tuesday it is investigating whether General Motors should recall an additional 1.7 million sport utility vehicles due to an issue with windshield wiper failures. GM in August 2016 recalled 367,800 2013 GMC Terrain and Chevrolet Equinox SUVs in the United States to address the problem. But after receiving 249 complaints about similar problems, the federal agency said it is probing whether the recall should be expanded to include an additional 1.7 million vehicles from the 2010-2016 model years. The automaker said it is cooperating with the NHTSA review. GM said it recalled the 2013 GMC Terrain and Chevrolet Equinox SUVs "because warranty data showed a higher-than-expected failure rate," adding it has continued to monitor field data on other model years of those vehicles. GM noted that no crashes or injuries related to the issue have been reported. The Detroit-based automaker said the recalls were prompted after a GM Canada brand quality manager reported a potential safety issue relating to reports of windshield wiper failures in Canada through GM's "Speak Up For Safety," program in late 2015. The data showed significantly higher field incidents in parts of Canada, which prompted a June 2016 recall there. Over the next two months, a higher number of U.S. reports prompted a U.S. recall, the company added. In the 2016 recall, GM said the front-wiper module would be replaced with a module that has a water deflector and, if needed, dealers would fill the water management hole and drill a new small hole in a different location.(Reporting by David Shepardson, editing by G Crosse)Related Video: Government/Legal Recalls Chevrolet GM GMC SUV