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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.

GMC Acadia goes big again? Spy photos show next-gen prototype

GMC is testing what looks a lot like a new full-size SUV, signaling the likelihood that it will return to full-size segment after the current generation has run its course. GM downsized the Acadia for the 2017 redesign, carving nearly 10 inches off its length and 3 inches from its girth. For the next generation, it appears that script will be aggressively flipped.  The hierarchy of GM's unibody family SUVs was already a bit wonky before the Acadia's 2017 redesign, and continues to be now. While it would be logical for the Chevrolet Traverse, GMC Acadia, Buick Enclave and Cadillac XT6 — all three-row crossovers — to be different skins on the same fundamental chassis, that's not actually the case. The Acadia is a full foot shorter than either the Traverse or Enclave, with the XT6 falling in between. Based on these photos, that will no longer be the case when the new GMC Acadia debuts. Since the current one went on sale in 2016 as a 2017 model, it's about due for a replacement.  We can't see much beyond basic proportions here, but those tell a clear story. It's pretty obvious that the hood on the prototype is wider and sits higher than on the current car, with perhaps less slope to the now-wider nose. We can also see the faintest impressions of creasing on the flanks, likely leading to the same broad, angular hip treatment present on the current car. Viewed side-by-side, we can see a little more front and rear overhang. There's no obvious hint of substantially longer wheelbase here (the rear doors line up almost perfectly), so we're probably looking at something that is wider but not necessarily much longer.  In any event, we shouldn't have to wait too long to find out exactly what GM has in store for its "Pro" brand.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

GMC Hummer EV SUV prototypes hit the trails in Moab

It seems like GMC's new Hummer EV pickup only just hit the market, but it's almost time to roll the hype train back through for the next installment: the SUV. GM President Mark Reuss shared images of some prototypes crawling on the rocks outside Moab in what he called "final testing validation" ahead of the SUV's projected arrival in showrooms some time in early 2023.  "With its aggressive 49-degree departure angle and tight turning radius of just 35.4-feet, the HUMMER EV SUV’s maneuverability, capability and performance make it an off-road supertruck," Reuss said in the post accompanying the photos. The over-the-river-and-through-the-woods routine depicted in the photos doesn't reveal much we don't already know about the forthcoming electric 4x4, but we can at least contextualize that 49-degree departure angle; the best you'll get from any Jeep Wrangler currently on sale is 40.4 degrees.  GMC's Hummer SUV will launch early next year with an 830-horsepower drivetrain, offering roughly 300 miles of driving range. Pricing will start at $105,595 before options. Later in 2023, GMC will release an EV2X variant with up to 625 horsepower, similar range and an $89,995 price tag. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.