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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.

Buy a Fiat 124 Spider Abarth, get a free day of driving school

We know the Mazda MX-5 Miata and the Fiat 124 Spider are basically the same car underneath. As we pointed out in our first drive of the 124 Spider, the two cater to different drivers, so it can be tough to choose a favorite. FCA has made deciding between the two sports cars a little harder, as it will offer Abarth owners a free day of high-performance driving instruction with their cars. Anyone buying or leasing a new Fiat 124 Spider Abarth or a Fiat 500 Abarth will get a free, one-day class at the Bob Bondurant School of High Performance Driving in Phoenix. Bundling driving school with brand-new performance cars isn't unheard of – Dodge and Bondurant recently announced a similar program for the Viper – but it is quite rare for vehicles priced below $30,000. The free session will include instructor-led skid, autocross, slalom, and team rally cross activities, in addition to hot laps. While the one-day course is included for free, travel, food, and hotel expenses aren't covered. Fiat-less people can also join in on the fun buy purchasing the Abarth experience separately. Bondurant one-day classes cost at least a grand, which makes the Fiat price of $0 a good deal as long as you can get yourself there relatively cheaply. But is this enough for drivers to choose the 124 Spider Abarth over an MX-5 Club? This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video: Featured Gallery Bob Bondurant Fiat 124 Spider Abarth Related Gallery 2017 Fiat 124 Spider: First Drive View 30 Photos News Source: FCAImage Credit: FCA Fiat Mazda Convertible Performance fiat 124 spider abarth

Mazda CX-30 crossover will have its U.S. debut at L.A. Auto Show

After debuting at the Geneva Motor Show earlier this year, the Mazda CX-30 is ready to relocate to the U.S., and is now preparing to meet its future compatriots at the LA Auto Show. The small crossover — whose name is a workaround due to the Chinese-market CX-4 crossover — is five inches longer than the new Mazda3 hatchback and five inches shorter than the CX-5 crossover. Its appeal is intended to be a mix of high maneuverability and roominess for occupants and cargo, not to mention being the second vehicle in the lineup to adopt the evolved Kodo design language first expressed on the latest Mazda3.  In Europe, the CX-30 offers buyers a range of engines from a Skyactiv-D 1.8-liter diesel to the new Skyactiv-X engine with gasoline compression ignition. Last month, Motor Trend dug up a California Air Resources Board document listing the two engines and two transmissions for the North American market. Our continent gets the 2.0-liter four-cylinder mated to a six-speed manual or a six-speed automatic, and a 2.5-liter four-cylinder mated solely to a six-speed auto. The smaller engine and manual transmission are expected to be reserved for Canadian and Mexican buyers. The U.S. likely gets the 2.5-liter, the engine that makes 186 horsepower and 186 pound-feet of torque in the Mazda3 and 187 hp in the CX-5.  Mazda's i-Activ all-wheel drive is predicted from launch, and safety features should include front cross-traffic alert, adaptive cruise control, and driver monitoring linked to a Smart Brake Support system that cuts the reaction time to issue a the driver a brake warning. The CX-30 will share the Mazda stand with the 2019 Mazda MX-5/Miata RF, refreshed 2020 CX-5 and 2020 CX-9 crossovers, the 2020 Mazda 3, and Mazda3 TCR racer. Anyone with some free time at 1:20 p.m. Pacific Time on November 11 is welcome to stream the press conference at Mazda's YouTube channel.