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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.

Lincoln MKX Concept goes for the gold in Beijing

We've now seen the Lincoln MKX Concept in the metal, and we've shot it with the lenses of our own DSLR cameras. And we have to say, our opinion of the concept's design language has improved over our initial reaction. Yes, it's clear that this MKX shares its underpinnings with those of the Ford Edge Concept that we saw in LA, but the changes made by Lincoln stylists are a welcome departure from the angular lines of its corporate cousin from The Blue Oval.
We like the subtlety of the MKX Concept's front fascia, and the lighting elements both front and rear lend a luxurious quality to the crossover's typical two-box proportions. When combined with the smaller MKC that was shown in production form late last year, it's clear to see that Lincoln has a specific design direction that at least seems visually capable of setting it apart from the Ford models with which the brand shares its platforms. Here's hoping there are some Lincoln-specific upgrades underhood...
Have a look at our image gallery of live photos from Beijing above, reread the press release below, and feel free to let us know what you think.

Lincoln confirms the MKZ only has a few months left to live

Lincoln confirmed it will put the MKZ out to pasture in 2020. The sedan is based on the Ford Fusion, which is also scheduled to retire in the coming months as the company pivots towards high-riding models. Introduced at the 2012 New York Auto Show, the MKZ is the oldest member of the Lincoln portfolio by a wide margin, so its demise hardly comes as a surprise. The firm quietly broke the news as it announced plans to release an electric SUV built using technology borrowed from Rivian. The 2020 model is already out, and Lincoln tells Autoblog production will end in mid-2020, with sales continuing through the rest of the year. There will be no 2021 model.   Though never a home run, the MKZ will be remembered as a significant car because it ushered in the design language that characterizes every model Lincoln sells in 2020 when it received a mid-cycle update for the 2017 model year. And, with up to 400 horsepower on tap, it also stood out as the most powerful production Lincoln ever released. Power and an elegant design weren't enough to give the nameplate a significant boost, and annual sales dropped to 17,725 units in 2019 from a peak of 34,009 cars in 2014. Even the Navigator outsold it. In recent years, the MKZ perplexingly became the autonomous car world's darling. Faraday Future, Didi Chuxing, Aurora, and Qualcomm are among the companies that tested their technology with MKZ-based prototypes. Lincoln explained the Hermosillo, Mexico, factory that makes the MKZ and the Fusion will "prepare for production of new Ford vehicles," but it didn't specify which ones. There's absolutely no evidence the company is developing a direct replacement for its entry-level sedan, so the Continental will carry the torch on its own. Its days might be numbered, too, because several unverified reports claim Lincoln will again consign the nameplate to the attic in the coming years to free up the production capacity it needs to build electric cars in Flat Rock, Michigan. Once it goes, Lincoln's range will be entirely sedan-free for the first time since the company was created in 1917. Some automakers still believe in the sedan, like Audi, but Lincoln seems to be a student of Ford's philosophy. Related Video: