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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.

Automakers want to stop the EPA's fuel economy rules change, and why that's a shortsighted move

With a Trump Administration looming, the EPA moved quickly after the election to propose finalizing future fuel economy rules last week. The auto industry doesn't like that (surprise), and has started making moves to stop the EPA. Ford CEO Mark Fields said he wanted to lobby Trump to lower the standards, and now the Auto Alliance, a manufacturer group, is saying it will join the fight against cleaner cars. The Alliance represents 12 automakers: BMW, Fiat Chrysler, Ford, GM, Jaguar Land Rover, Mazda, Mercedes-Benz, Mitsubishi, Porsche, Toyota, VW, and Volvo. Gloria Bergquist, a spokesperson for the Alliance, told Automotive News that the "EPA's sudden and controversial move to propose auto regulations eight months early - even after Congress warned agencies about taking such steps while political appointees were packing their bags - calls out for congressional action to pause this rulemaking until a thoughtful policy review can occur." The EPA was going to consider public comments through April 2017, but then said it would move the deadline to the end of December. That means that it can finalize the rules before President Obama leaves office. The director of public affairs for the Consumer Federation of America, Jack Gillis, said on a conference call with reporters last week when the EPA originally announced its decision that it is unlikely that President Trump will be able to roll back these changes. Gillis also said on the same call that any attempt by the automakers to prevent these changes would be history repeating itself. "These are the same companies that fought airbags, and now promoting the fact that every car has multiple airbags," he said. "These are the same companies that fought the crash-test program, and now are promoting the crash-test ratings published by the government. So, it's clear that they're misperceiving the needs of the American consumer." There are more reasons the Allliance's pushback is flawed. Carol Lee Rawn, the transportation program director for Ceres, said on that call that the automotive industry is a global one, and many automakers are moving to global platforms to help them meet strict fuel economy rules around the world.

Toyota Prius remains best-selling vehicle in California, wireless charging tests underway

About one in every nine new cars in the US are sold in the California. If we're just looking at the four Toyota Prius hybrid variants, then the number becomes closer to one in three. Tesla Model S battery-electric vehicle sales? Try one in 2.7. For the second straight year, the Prius was the best-selling car in the Golden State. Toyota sold 69,728 Priuses there, almost a third of the more than 234,000 sold in the US in 2013. Prius sales in California alone were up almost 13 percent. And Toyota's ready to build upon that momentum with a new version of the Prius Plug-in Hybrid, saying that it's testing a wireless recharging system in Japan's Aichi Prefecture and will start similar tirals stateside later this year. We'll make the wild prediction that some of those tests, which involves magnetic resonance, will be in California. Meanwhile, Tesla's numbers were, in their own way, were more impressive. The California-based automaker sold 8,347 of its Model S units in the Golden State out of about 22,300 nationwide in 2012, Bloomberg News reports. In all, advanced-powertrain vehicles accounted for 9.3 percent of California new-vehicle sales, compared to 3.8 percent for the country, Bloomberg says, citing Hybrid Cars and Baum & Associates. Check out Toyota's press release on its California sales below. Prius Medals In The Golden State Toyota Prius is best-selling vehicle line in California Wireless charging testing for Prius Plug-in TORRANCE, Calif., Feb. 18, 2014 /PRNewswire/ -- The Prius took home the gold in 2013 as the most popular vehicle-line in California for the second year in a row. The Prius Family (Prius Liftback, Prius v, Prius c and Prius Plug-in) took the podium in both 2012 and 2013 as the best-selling California vehicle name plate. 69,728 drivers hit the road in 2013, according to the California Auto Outlook Report, while 61,893 Californians joined the family in 2012. In the Golden State, the Prius Family outsells all other hybrid competitors combined. California drivers lead the country in adoption of vehicles powered, either wholly or partially, by electricity. 9.3% of vehicles sold in the state run on some form of electricity, according to the report. But despite the growing number of hybrid competitors, Toyota's hybrid leadership remains unmatched. In fact, one out of every two hybrids in California carries the Prius name plate.