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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.

Junkyard Gem: 1991 Ford Festiva with 317K miles

Most cars that make it to astoundingly high mileage figures tend to fall into one of two categories: engineering masterpieces that ended up being hard to kill (and got a lifetime of at least the most important maintenance items) or machines that inspired unquestioning love from owners willing to keep opening their wallets for decades to keep them on the road. Today's Junkyard Gem falls into neither of those groups; it's a penny-pinching Ford Festiva, one of the cheapest cars available in its time … and yet it cracked the magical 300,000-mile mark before getting discarded. So, a total of 317,207.3 miles over its nearly 30 years on the road. We just saw a discarded 1989 Honda Civic with a mere 308,895 miles on the clock, and this Festiva comes close to topping this 1993 Honda Civic DX. The highest-mileage junkyard car I've ever found (keep in mind that most cars before the middle 1980s had 5-digit odometers, and most cars this century have unreadable-in-the-boneyard electronic odometers) is this 1987 Mercedes-Benz 190E with an amazing 601,173 miles. This Mercedes-Benz 300D came close, with 535,971 miles. Detroit went to six-digit odometers late in the game, but this 1986 Olds Calais reached 363,033 miles, and this Ford Crown Victoria Police Interceptor reached the 412,013-mile figure thanks to a second career as a taxi. A Festiva surpassing the 300k mark, though, is not something I ever expected to see. These cars were sold as cheap, no-frills transportation, period. The MSRP on a base-level Festiva started at $6,620 in 1991, or about $12,610 in 2020 bucks. Not many cars could squeeze under that price at that time; the Subaru Justy could be purchased for $5,995, the Hyundai Excel 3-door hatch cost $6,275, and the Yugo GV (yes, it could still be obtained new as late as 1991) had a hilarious $4,435 price tag. Even the lowly Geo Metro, Pontiac LeMans, and Toyota Tercel EZ cost more than this Festiva. Still, this car came with snazzy pinstripes, now faded to near-invisibility by the Colorado sun. You can see the cover plate in the spot where the air-conditioning button would have gone, had the original buyer of this car been willing to squander precious dollars on such frivolity. Five-speed manual transmission, naturally. You could get an automatic in the Festiva, but anyone willing to spend that kind of money on extras would have been able to afford a much nicer Tercel EZ.

Monterey Car Week recap, 2025 Lincoln Navigator and more | Autoblog Podcast #845

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor Jeremy Korzeniewski. They look back on Monterey Car Week, and pick their favorite highlights from the event, including the new Lincoln Navigator, the Ruf Rodeo, Cadillac Opulent Velocity concept and more. In the news, Ford has abandoned its three-row EV in a pivot to hybrid. Our hosts review recent cars in the fleet, like the Mercedes GLC Coupe, long-term Mazda CX-90 and the three-wheel Can-Am Ryker. They also compare the Jeep Gladiator with the Wrangler. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #845 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Monterey Car Week recap 2025 Lincoln Navigator Ruf Rodeo Cadillac Opulent Velocity concept Lamborghini Temerario Porsche 911 Turbo 50 Years Ford-Ghia Probe I prototype burns to a crisp Ford cancels electric three-row SUV, pivots to hybrid Cars we're driving 2024 Mercedes-Benz GLC 300 Coupe 2024 Mazda CX-90 PHEV long-term update 2025 Can-Am Ryker 2024 Jeep Gladiator vs. Wrangler Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video:  Corvette ZR1, Honda Civic Type R and Mercedes-AMG SL 63 | Autoblog Podcast 843 This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.