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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 Chevrolet Silverado LT Trail Boss adds 3.0-liter diesel option

Order books just opened for the 2022 Chevrolet Silverado, which, in case you hadn't heard, is almost unchanged compared to the 2021 Silverado. The overhauled Silverado and GMC Sierra that we caught in spy shots several times last year and were expected to launch this year have been delayed. Until that pickup gets here, Chevrolet and GMC will add "Limited" to the names of the Silverado and Sierra. Fleet guides for next year's truck show the official model name as Chevrolet Silverado 1500 LTD. There are a few interesting features coming next year, though, like the Multi-Flex tailgate joining the options list for Silverado HD trucks. GM Authority also reports that the 2022 Silverado LT Trail Boss adds the 3.0-liter oil-burner with 277 horsepower and 460 pound-feet of torque as a third engine option, which should be a big treat for the off-roading crew. Whereas the GMC Sierra AT4 already offers the 3.0-liter diesel, the Silverado LT Trail Boss only offers the 5.3-liter and 6.2-liter V8s, both bolted to GM's ten-speed automatic transmission. Then there's the Custom Trail Boss that adds the 4.3-liter V6 as an option, and it and the 5.3-liter V8 only get 6-speed automatics. At the moment, Silverado trims that offer the Duramax charge a $1,045 for it over the 5.3-liter V8. If that gap holds true for next year, the diesel will just about evenly split the price difference between the LT Trail Boss with the 5.3 and the 6.2.   Elsewhere in the range, Driving.ca said Canadian fleet guides show the 4.3-liter V6 and lower-spec 5.3-liter V8 with Active Fuel Management (AFM) instead of Dynamic Fuel Management (DFM) disappearing from next year's base Silverado WT. To clarify, AFM only shuts off half the cylinders in certain conditions, whereas DFM constantly adjusts how many cylinders are firing all the time. As it stands, that would leave the 2.7-liter turbo four-cylinder as the only engine option. However, those other two mills were the only ones left in the lineup that shift through a six-speed transmission, making it possible that they'll rejoin the options list with at least two more gears to choose from. It's not clear if GM will sell the Limited models alongside the majorly upgraded 2022 Silverado. The automaker did just that a few years ago, selling the previous-gen truck as a Limited trim alongside the then-new, current-gen. It certainly wouldn't be the only company to do so, either.

2021 GMC Yukon Denali adds another extra-luxe accessories bundle

For the 2018 GMC Yukon Denali, GMC added a Denali Ultimate Package that combined every option already available with some 22-inch Midnight Silver rims. In 2020, GMC expanded build options for the Terrain with a Denali Premium Package, lumping together a couple of a la carte packages as an exclusive mix of features. The 2020 Yukon Denali configurator includes a lightweight Denali Premium Package, too, but for 2021 GM Authority reports the top-tier choices will expand to include an entry-level Denali Deluxe Package along with the Denali Premium and Ultimate options. The Deluxe Package checks the boxes for the Advanced Technology Package, Advanced Security Package, and the Rear Seat Media System. The long list of tech roped in with that trio includes adaptive cruise control, enhanced automatic emergency braking, rear camera mirror and washer, interior movement sensors, glass break sensors, dual 12.6-inch rear seat-mounted screens, two HDMI ports, and wireless projection capability. The exterior showpiece is a quartet of 22-inch bright machined aluminum wheels with premium paint, affixed with wheel locks. Go with those rims and the Denali Deluxe Package costs $5,750, opting for a different set of wheels can drop the price to $3,775. On top of that, choosing the right combination of options to go with the Deluxe Package can lower the price another $500. The Denali Premium Package includes almost everything above, only omitting the Rear Seat Media Package. In place of the screens for back-seaters, the bundle installs a powered panoramic sunroof and power-retractable assist steps with perimeter lighting. Purchased with the 22-inch wheels, this assortment runs $7,000, or $5,025 with a different set of wheels. Here again, the right combination of additional packages can save $500. The Denali Ultimate Package combines everything in the bundles above, plus the Max Trailering Package that gets GMC's ProGrade Trailering System and high-capacity engine cooling. The price is $10,460 on a rear-wheel drive Yukon Denali, $11,255 on the four-wheel drive models. Choosing a different wheel only saves $1,000 in this case, and there's no extra discount available. The 2021 Yukon is expected to enter production next month at GM's Arlington Plant in Texas, Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.