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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.

Is the Acura Legend coming back?

Great news for fans of the Acura Legend: Honda has applied for a trademark in Europe for the word "Legend," pertaining to "Vehicles; Apparatus for locomotion by land; Apparatus for locomotion by air; Apparatus for locomotion by water; Parts and fittings for land vehicles; Parts and fittings for air and space vehicles; Parts and fittings for water vehicles." This trademark was first spotted by AutoGuide.com, and gives more credence to our speculation from a couple months ago about the possibility of the Legend nameplate returning to the Acura lineup in the States. If you were reading closely before, you'll notice that it was actually Honda that applied for the trademark, not Acura. The Legend was sold with a Honda badge on it in Europe back in the day, so this trademark filing in Europe makes perfect sense. In our previous report, we put forth the idea that Acura could bring the Legend name back with a successor to the RLX flagship sedan. Specifically, we were thinking that Acura would use the four-door coupe form previewed by the Acura Precision concept. That story also suggested a new Legend flagship could debut during Monterey Car Week. The 1986 Legend sedan was one of Acura's first two vehicles when the brand launched (the other being the Integra). It had a smooth 2.5-liter V6 that made all of 151 horsepower at the time. A sweet-looking coupe soon followed the sedan. The name Legend would be applied to a second-generation, which is arguably the one best-remembered. The coupe in particular has lived up to its name. Much of that legendary status, though, is the result of what followed: the Legend name and coupe body style dying for 1996 in favor of the RL, a four-door sedan as bland as its name. Acura's flagship has never recovered. We'll be quite pleased if Acura ultimately decides to reveal a totally new Legend to blow us away in Monterey. The return to actual names for the lineup would also be lovely. It's certainly working for Lincoln. Now if they'd only trademark "Integra" ...

The accidentally green episode | Autoblog Podcast #486

This week, consumer editor Jeremy Korzeniewski and Autoblog Green editor-in-chief Sebastian Blanco join Mike Austin and things go in a "green" direction – it just happened that way. We hit the week's news (including some green-related items), talk about the green things we've been driving, hear part of an interview with the filmmakers behind a new movie about the 2008 bailout, and then answer a listener question. The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want questionable buying advice, send a message or a voice memo to podcast at autoblog dot com. Autoblog Podcast #486 Topics and stories we mention Almost half of VW TDI owners have already agreed to settle The Chevy Colorado has a military-spec, fuel cell-powered cousin 2017 Honda Accord Hybrid 2017 Hyundai Elantra Eco Jeremy's 1975 VW camper van A preview of Live Another Day, a film about the 2008 auto bailout Rundown Intro - 00:00 The news - 05:26 What we've been driving - 18:43 An excerpt from our interview with the Live Another Day filmmakers - 37:20 Listener questions - 40:00 Total Duration: 47:52 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Green Podcasts Honda Hyundai vw diesel scandal