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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 wants to target Jeep with compact crossover

GMC execs might consider adding a Jeep competitor to the range, but rather than new rumors of a Wrangler-fighter, this time the Professional Grade brand could go after the Renegade. Division boss Duncan Aldred would like to broaden the brand's lineup with a subcompact crossover. "I keep telling everyone, 'How can General Motors' truck brand not be in the fastest-growing segment in the industry, an SUV segment," he said to Automotive News but wouldn't confirm whether the model was under development. General Motors already offers small crossovers like the Chevrolet Trax and Buick Encore, but the CUV segment in general continues to drive auto sales in the US. Adding a similarly sized GMC to the mix might increase the automaker's volume by appealing to different customers. "A GMC buyer is very different from a Buick buyer. This is like comparing the Fiat 500X to the Jeep Renegade. They are very similar but appeal to different people," Dave Sullivan, Product Analysis Manager at AutoPacific, told Autoblog. Aldred started the speculation about a Wrangler-fighting model in an interview in late 2014, and the company reportedly even raised the idea of an offroad-focused vehicle to dealers to see how they reacted. The development process was only in the very early planning stages, but the brand considered using Hummer for a little of the new product's inspiration. Aldred later suggested to journalists the possibility of adding a compact or midsize SUV to the GMC range in the next 10 years to appeal to more buyers. He didn't comment directly on the possibility of the Wrangler-challenger at the time beyond saying: "I can't confirm that ... everything's on the table." Related Video:

2020 GMC Sierra Review & Buying Guide | The same but different

For the most part, the 2020 GMC Sierra 1500 and the Chevy Silverado are very close siblings. And with the more modestly equipped Sierra SLE and SLT models, choosing between the equivalent Chevy and GMC largely comes down to styling preference and whether you got a better deal at the GMC dealer. They’re almost identical twins. Almost. Because despite the shared DNA, there are differences in terms of model choice. There's no GMC equivalent to the cheaper Custom Trail Boss, for instance, but there is the high-dollar off-road-oriented AT4 that goes beyond the Chevy LT Trail Boss with more equipment and the availability of GMC's unique MultiPro tailgate and CarbonPro carbon fiber bed. Those are also available on the GMC Sierra Denali, which further differs with an adaptive suspension not offered by Chevrolet that seriously improves the ride comfort and handling composure of GM's full-size trucks. GMC therefore makes a compelling case for itself if you're willing to spend more for your truck, but having said that, the range-topping Sierras also don't go above-and-beyond in the same ways as the ritzy Ram 1500 and Ford F-150 trim levels do to provide a proper luxury truck experience. The new Duramax diesel engine at least stands out, but otherwise the Sierra doesn't offer a lot that others can't match or better (even within the GM family). What's new for 2020? CarbonPro Editions debut for the AT4 and Denali trim levels. These include the CarbonPro composite bed and a Kicker audio system in the MultiPro tailgate. The AT4 versions also gets some unique exterior trim. Mechanically, a 10-speed automatic is now paired with the drivetrain combo of 5.3-liter V8, Dynamic Fuel Management and four-wheel drive. Aiding visibility are newly available trailer tow mirrors, a bed-view camera, and a high-def 360-degree camera system with trailering elements.  What's the interior and in-car technology like? Like its Silverado sibling, the Sierra's cabin is its least compelling and competitive attribute, falling far behind the Ram 1500 and Ford F-150 in terms of quality and design. The dash is drab and frankly ugly in every trim level, but the cabin is particularly damning in the Sierra Denali. Its black vinyl "stitched" onto the black dash and some token strips of wood trim slapped onto the center console and doors just aren't enough to create the sort of high-dollar ambience truck buyers can find elsewhere.