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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.

Autoweek dubs GMC Canyon, VW GTI its 2015 'Best of the Best'

For kids around the globe, tis the season for Santa, reindeer and presents. For the automotive industry, the last quarter of each year is reserved for awards, whether they come from Motor Trend, Car and Driver, Automobile, or yes, Autoblog. The latest to get released comes from our friends at Autoweek. The magazine has echoed other outlets, naming a Volkswagen hatchback and a small pickup from General Motors as its Best of the Best. Unlike Motor Trend, which handed out its golden calipers to the Chevrolet Colorado and Volkswagen Golf range, Autoweek doled out its awards to the Colorado's twin, the GMC Canyon, while singling out the hottest version of the Golf, the GTI. "This is the best hot-hatch on the American market – and it may be the best car you can buy for less than $30K," one AW staffer said in the publication's article on the feature. Other staffers praised the absolute value provided by the GTI and the overall fun factor. The Canyon, meanwhile, was saluted for being "the perfect size," not to mention its excellent build quality, feature-rich cabin and overall practicality. "It's truly a truck in the most honest sense of the word," Autoweek wrote of the Canyon. Scroll down for the full press release on the announcement from Autoweek, which includes comments from both Volkswagen and GMC. And then head over and read AW's full feature on the awards. Autoweek names Best of the Best/Car and Truck for 2015 Volkswagen Golf GTI and GMC Canyon signal a strong year for design, performance and value DETROIT, Dec. 16, 2014 /PRNewswire/ -- Today, Autoweek named the Volkswagen Golf GTI as its Best of the Best/Car for 2015, beating a group of finalists that includes the Alfa Romeo 4C, Ford Mustang and Mercedes-Benz C-class; and the GMC Canyon as its Best of the Best/Truck for 2015, besting the likes of the Chevrolet Colorado, Lincoln MKC and Porsche Macan. Autoweek evaluates every new or significantly updated model throughout the year and begins to identify the standouts. Performance, economy, fit and finish, design, value, significance to the auto industry and personal taste all combine to define the Best of the Best. Four cars and four trucks make the grade, and Autoweek editors put them through rigorous road-handling tests at Michigan International Speedway in Brooklyn, Mich. This is where a vehicle transcends the numbers and shows if design, performance and pure driving passion meld into an Autoweek Best of the Best pick.

2024 GMC Hummer EV SUV Second Drive Review: Moab made easy

MOAB, Utah — The title of our First Drive of the 2024 GMC Hummer EV SUV included the phrase, "It's big, but this elephant can dance." The truck earned that compliment after a day of squeezing through San Francisco lanes and the slightly-more-commodious back roads in Napa Valley. But an SUV can't be called a supertruck without equivalent mastery on dirt, so GMC led a posse of media to Moab, Utah to run the Hummer's favorite stomping grounds. What happens when you subtract 20 inches of overall length and nine inches of wheelbase from a megafauna pickup? You find the dancing doesn't stop where the pavement ends. Allowed to roam Moab's challenging terrain — and ample room — the SUV is more than ready to do the Hokey Pokey and turn itself around. Admittedly, we knew this from our First Drive of the Hummer SUT two years ago, also performed among Moab's red rocks and red dust. The two variants share the same tricks, and GMC engineers chose Moab for prototype development, so there was no question of successfully navigating the trails. The SUV's simply nimbler about than the SUT. Clearance angles are better all over. Compared to the SUT, the SUV's 49.6-degree approach angle is just 0.1 better, but the 49-degree departure angle is 10.6 degrees better, and the breakover angle is 2.2 degrees better. Having four-wheel steer to rotate the SUV's shorter wheelbase shrinks the already tiny turning circle by 1.7 feet, to 35.4 feet. That's only four feet wider than a BMW i3, but 14 feet more compact than a GMC Sierra Crew Cab with the Short Box. And there are 'only' 15 standard cameras on the SUV, one shy of the 16 cameras in the SUT; the pickup adds an angle on the cargo bed the SUV doesn't have. Our 3X trim packed three motors producing a combined 830 horsepower and 1,200 pound-feet of torque. The $9,995 Extreme Off-Road Package threw on rock sliders with integrated steps that can support 1.5 times the Hummer's weight, full underbody skid plating, two additional underbody cameras front and rear, an electronically locking mechanical front differential for the single motor on the front, a virtual rear differential (programming that makes the two rear motors behave like a locked diff), heavy-duty ball spline half shafts, tow hooks and 18-inch black wheels on 35-inch Goodyear Wrangler Mud-Terrain tires.