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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.

2022 GMC Acadia gets small changes, price hike

GMC put conspicuous effort into the 2020 Acadia, adding a few more embellishments this year. For 2022 the Acadia gets another nuanced rework, the most important change being the elimination of both the base SL trim and the 2.5-liter four-cylinder engine. The Acadia SLE, the next trim level up from the SL, this year offers the 2.5-liter four-cylinder and 3.0-liter V6 in front-wheel-drive guise. Next year, the only engine available for the front-driver SLE will be the 2.0-liter turbocharged four-cylinder. The spec rearrangement jacks up the Acadia's barrier to entry to $35,995 for the new base model, a $5,000 increase over 2021. There's some give-and-take in the details to even out the exchange. Buyers this year needed to step up to the SLE in all-wheel-drive trim to get access to the 2.0-liter, which started at $38,295, and keeps that price for next year. But SLE pricing only goes up by $900 to swap the 2.0-liter for the 2.5-liter, not much money for a lot more power. The 2.5-liter produces 193 horsepower and 188 pound-feet of torque, the 2.0-liter makes 230 hp and 258 lb-ft. One more cut sees the Acadia AT4 with the five-passenger cabin struck from the menu, six- and seven-passenger seating the only choices. And one more swap sees the $495 Red Mahogany Metallic premium exterior paint replaced by the $495 Light Stone Metallic. Upgrades include new 18- and 20-inch wheel designs, and all 2022 Acadias get the Pro Safety Plus package standard. That installs driver assistance features such as Automatic Emergency Braking, IntelliBeam headlights, Front and Rear Park Assist, Forward Collision Alert, and Rear Cross Traffic Alert. And Traction Select, GMC's name for road surface and terrain modes, is also standard across the lineup.  The 2022 Acadia entered production at GM's Spring Hill, Tennessee plant at the end of last month, the configurator is live now. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2023 GMC Sierra AT4X AEV starts at $90,490

The 2023 GMC Sierra hid a surprise we didn't know to look for. We covered the pickup's pricing for next year, which included noting the $3,395 increase on the price of the $83,595 AT4X trim. Only the Denali Ultimate 4WD with the 6.2-liter is more expensive, at $83,995. The AT4X rise pays for extra equipment. the standard AT4X inheriting parts from the Sierra ATVX AEV created in collaboration with American Expedition Vehicles. The extra gear includes a revised grille with gloss black and dark nickel trim, AEV front and rear bumpers with increased approach and departure angles, a hot-stamped hardened steel front skid plate inflate the cost and give the ATX4 a little more capability off-road. The equipment list narrows the gap from the regular AT4X to the AT4X AEV, the latter going just a bit further with four more skid plates, AEV's Salta wheels, and a smattering of black trim around the body. The surprise is that the configurator lists the AT4X AEV as a package for the AT4X, not as a separate trim, which is what we were looking for. That package costs $6,895, putting the MSRP at $90,490 after the $1,895 destination charge.  Unlike some other spendy trucks that can be optioned with another 10% or 15% of their MSRPs in options, there's not much left on the menu for the Sierra AT4X AEV. The most expensive substantial change would be paint, which costs at least $495 for anything but Summit White. There are no other wheel choices, no other interior choices than Obsidian Rush full leather. Checking the boxes for equipment like the console-mounted safe, off-road high-clearance steps, and hard-folding tonneau cover, plus a fancy metallic paint, comes to $3,650 for the bundle. Make it $95,000 before dealer fees and add-ons for Chevy's trail-focused truck. That's about midway between the hi-po high-speed desert runners, the $78,600 Ford Raptor and the $109,600 Raptor R, and $4,300 more than a base Ram TRX, a truck with three $10,000 option packages. It costs a lot more to get dirty than it used to. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.