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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.

GM doubles miles open to its Super Cruise technology

DETROIT — General Motors said on Wednesday owners of certain vehicles equipped with its Super Cruise assisted driving system will now be able to use it on 400,000 miles (643,740 km) of North American roads, doubling the current operating area as Tesla and other automakers race to deploy hands-free cruising technology. GM's Super Cruise system, like Tesla's Autopilot system, is a driver assistance system, and does not enable true autonomous driving. Spurred by Tesla's aggressive deployment of Autopilot, and Tesla Chief Executive Elon Musk's promises of a more advanced "Full Self Driving" system, GM, Ford, Volkswagen and Mercedes-Benz are racing to deploy competing partial automation technology in major markets. At the same time, safety regulators are showing concern that drivers do not understand that Autopilot and similar systems are not designed to take over driving in every circumstance. The GM system's sensors and software allow a motorist to cruise with hands off the wheel on highways that have been mapped in detail. But the driver is expected to stay alert and ready to take over the car. GM uses technology to monitor the driver, and Super Cruise will sound alarms or slow the car to a stop if it detects that a driver is not responding. Starting later this year, GM plans to enable vehicles equipped with Super Cruise and the company's latest vehicle electronic system to operate hands-free on major, undivided highways in the United States and Canada, as well as additional miles of divided, interstate highways. Currently, Super Cruise operates only on interstate, divided highways. The expansion, enabled by wider digital mapping, will allow owners of properly equipped GM vehicles to cruise hands-free on stretches of Route 66 and the Pacific Coast Highway in the U.S. West or the Trans-Canada highway in Western Canada, GM said. Many of the new roads GM has mapped are in rural, heartland states where GM pickup trucks are popular. GM plans to offer Super Cruise as an option on its Chevrolet Silverado and GMC Sierra large pickups later this year. GM has said previously it intends to offer Super Cruise as an option on 22 models by the end of 2023. Depending on the model, Super Cruise costs $2,200 to $2,500 to add as an option. (Reporting by Joe White in Detroit; Editing by Matthew Lewis) Related video: Cadillac Chevrolet GM GMC Technology Super Cruise

General Motors Recall List

It seems General Motors can't go more than a few weeks without issuing a major recall. Since the initial ignition lock recall on February 10, over 25 million vehicles have been recalled for defects. It seems General Motors can't go more than a few weeks without issuing a major recall. Since the initial ignition lock recall on February 10, over 25 million vehicles have been recalled for defects. We used the National Highway Traffic Safety Administration recall list to compile a snapshot of all the GM vehicles recalled in the last two months. NHTSA also provides a search engine that allows owners to search for recalls on their vehicle. An automotive company must do everything in their power to notify its customers when a recall is issued on a vehicle. If you own any of the following vehicles and you have questions regarding your car, you can contact Chevrolet at 1-866-694-6546, GMC at 1-866-996-9463, Buick at 1-800-521-7300 and Cadillac at 1-866-982-2339. Or check out General Motor's recall site. Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153) or go to www.safercar.gov. Here's a brief summery of the other vehicles currently under recall: July 26 – 414,333 cars affected NHTSA Campaign Number: 14V447000 Models under recall: Certain model year 2011-2012 Buick LaCrosse, Regal and Chevrolet Camaro, as well as certain 2010-2012 Cadillac SRX, Chevrolet Equinox and GMC Terrain vehicles, equipped with power height adjustable driver and passenger seats. Problem: In the affected vehicles, the bolt that secures the driver's and passenger's power front seat height adjuster may fall out causing the seat to drop suddenly to the lowest vertical position. Consequence: If the driver's seat unexpectedly drops, the distraction and altered seat position may affect the drivers' control of the vehicle, increasing the risk of a crash. Solution: Dealers will replace the height adjuster shoulder bolts, free of charge. July 14 – 16,939 cars affected NHTSA Campaign Number: 14V341000 Models under recall: Certain model year 2011 Cadillac CTS vehicles manufactured October 18, 2010, to June 2, 2011. Problem: In the affected vehicles, vibrations from the drive shaft may cause the vehicle's roll over sensor to command the roof rail air bags to deploy. Consequence: If the roof rail air bags deploy unexpectedly, there is an increased risk of crash and injury to the occupants.