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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 Continental to end after one-and-done generation?

After only 18 months on sale, the vultures of rumor have begun circling above the Lincoln Continental. Ford Authority says "sources intricately familiar with Ford Motor Company's future product plans" for the domestic luxury brand say the Continental won't get another chance at life after this generation. Those sources didn't detail Ford's reasons for dispatching the executioner on another sad task, but if this is true, even the reasons we can only guess make enough sense to justify the move. The Continental launched into a crossover mania still mushrooming in strength like some Marvel villain, the equivalent of a new dinosaur hatching a few months before the Chicxulub Impact Event. In 18 months, the Continental sold 18,846 units, 12,012 of those sales happening in 2017. In the U.S. this year, sales amounted to 1,573 units through February, about 25 percent down on the annualized monthly rate. It could be worse: The Lexus GS has found 1,009 U.S. buyers so far this year, the Acura RLX, 285. Conversely, the Cadillac XTS — yes, a fleet darling — secured 3,163 sales in the same period. And the German kingpins live in another dimension, with BMW scooting 5,641 5 Series models off dealer lots, and the Mercedes E-Class boasting 8,411 sales of all three variants. Even the much more expensive and much more profitable Lincoln Navigator rang up 2,351 sales in the first 60 days of 2018. That's disheartening reading, especially after Ford reportedly spent more than $1 billion to bring the Continental to market. Sedan segment woes look to have killed the Continental's platform siblings, too, making the Lincoln's demise simply part of the cull. The CD4 architecture also underpins the Ford Fusion and Lincoln MKZ. Ford canceled the Fusion redesign and won't commit to making either vehicle after 2020. Lincoln's passenger car sales declined more than 30 percent last month; meanwhile, Lincoln needs to spend its money on the crossovers that are selling, and investment in the coming three-row Aviator that will replace the MKT. Ford has a CD6 platform in development that suits front-, rear-, and all-wheel-drive vehicles. Under previous CEO Mark Fields, a new Fusion, Mustang, and MKZ would ride on the CD6, as well as the new Explorer and a Lincoln brother. Those plans left with the previous administration, and company sources told both Ford Authority and The Truth About Cars not to expect a Continental revival on that architecture. Related Video:

2021 Lincoln Navigator Review | The new land yacht

The 2021 Lincoln Navigator is true American luxury done in a distinct and proper fashion. It’s LincolnÂ’s flagship product with the highest level of opulence and glamour that a truck can possibly offer. The Navigator isn't just a dressed-up F-150 or Expedition with makeup on, either. ThereÂ’s still mechanically related to that pair with a truck chassis riding on an independent rear suspension hiding underneath, but everything above is pure, luxe bliss. YouÂ’d be hard pressed to find elements missing from the NavigatorÂ’s formula in this latest generation of the SUV that came out in 2018. The interior is elegance turned up to the max with a design that evokes old-world charm while fully embracing modernity. ItÂ’s not trying to be youthful or edgy. Instead, the Navigator exudes a quiet, grown-up confidence that looks expensive and high class. It brings the guests to the table by adopting its own language of classical luxury, then keeps them there with the tech and capability we expect in a truck approaching a six-figure price. Three rows, two different lengths, one seriously powerful engine and truck-level towing capacity makes the Navigator a heady choice for the luxury truck buyer who wants to do everything with one big vehicle. WhatÂ’s new for 2021? Changes for 2021 consist of new paint colors and minor equipment adjustments. Lincoln has added Asher Gray, Flight Blue, Green Gem and Signature Navy to the paint options. But itÂ’s also deleted Iced Mocha, Silver Jade, Blue Diamond and Rhapsody Blue. Both the limited-slip differential and heavy-duty trailer tow package have also been made standard on the Black Label. WhatÂ’s the interior and in-car technology like? The standard and Reserve Navigators are mighty luxurious on their own (including the interior shown in the top two photos above), but if you step up to an expensive Black Label trim, youÂ’re in for an absolute treat. Its interior offers a choice of “Themes” that go far beyond the usual color choices of black, beige and gray, with maybe a different wood type or two. Of the three, "Chalet" is the most conventional with its blend of tan and black, but the oxblood red "Destination" (above bottom-left) and cool blue "Yacht Club" (above bottom-right) are unlike anything offered by another brand (OK, maybe you could special order a Bentley or Rolls-Royce).