2005 Lincoln Ls Ultimate Sedan 4-door 3.9l 20,561. Original Miles on 2040-cars

Auto blog

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.

Jim Hackett says metal tariffs costing Ford $1 billion in profits

Ford CEO Jim Hackett divulged in an interview with Bloomberg that the Trump administration's tariffs on metals imported from the European Union, Canada and Mexico have affected the automaker's balance sheet, adding that trade disputes need a quick resolution. "From Ford's perspective, the metals tariffs took about $1 billion in profit from us," Hackett told the outlet. "The irony is we source most of that in the U.S. today anyways. We're in a good place right now, but if it goes on longer there will be more damage." Hackett did not specify what period the $1 billion covered, but a Ford spokesman said the CEO was referring to internal forecasts at Ford for higher tariff-related costs in 2018 and 2019. President Trump in March announced his intention to enact 25 percent tariffs on steel imports and 10 percent on imported aluminum from the three trade zones as a way to protect the U.S. steel industry. The move sent U.S. automakers' stock prices plunging at a time when they were coming off weak monthly sales reports. Separately, President Trump has targeted China with two rounds of tariffs targeting a combined $260 billion worth of imports. China has responded by enacting 25-percent tariffs on U.S. goods including vehicle imports. In the interview, Hackett said that has hurt demand for Lincoln, which has found a growing market for its luxury vehicles in China, and made the price of the Lincoln MKC less attractive to Chinese buyers. The MKC is built at the company's Louisville, Ky. assembly plant. "We've had to move people in that factory to other operations because of that trade problem," he said. It's not clear what those moves entail or how many workers were involved. Autoblog sought comment from a Ford spokeswoman and will update this story if we hear back. Ford last month announced it was scrapping plans to import the Focus Active small crossover to the U.S. from China because of the new 25-percent tariffs on Chinese imports. Material from Reuters was used in this report Related Video:

2017 Lincoln Continental: Was this mic-drop moment just a big flop?

The Lincoln Continental may have been our fifth-place pick for Best In Show at this year's Detroit Auto Show, but it's probably the one we argued about the most. In fact, we're still talking about it. And we'll no doubt be discussing it long after we finally get to drive the new sedan later this year. We do this with lots of cars, all the time. The Continental is an especially important, high-profile car right now. It has the task of being a torch-holder for the struggling-to-run Lincoln brand, and that's a tough job these days. But did Lincoln do right by its Continental name? Did its Detroit showcar stop us in our tracks, or were we left feeling cold? In an effort to show you our full discussion, we're trying something different. About a week after the Detroit Auto Show press days concluded, Autoblog's Jonathon Ramsey sent an email around to some editors about the Continental to open a discussion. It got heated, and fast. And while we considered summarizing it, we decided to instead post the whole, largely unedited (adjusted for typos and swear words) chain. From: Jonathon Ramsey To: Autoblog Team Does anyone else think it's a problem that the new Continental looks 85 percent like the MKZ? And another 10 percent of it looks like a Jaguar and a Bentley? Because I think Lincoln screwed the pooch. The German Three plus Porsche can make cars that look alike – they've earned the right, even if I'd rather they didn't. The MKZ looks like a car for regional sales reps. Lincoln broke the glass in case of emergency, grabbed the Continental name, then put it on a car that looks a lot like that sales-rep car, but one for regional VPs. Do we really think this can work? Because I don't. From: Steven Ewing To: Autoblog Team Personally, I'm pretty disappointed in the final execution of Continental. I'm glad Lincoln isn't obsessed with chasing the Germans, but at this point, it's not even chasing Cadillac. I think that introducing the new front end and TTV6 engine on the MKZ before the Continental was a huge mistake. And while I have high hopes for the Conti from a comfort/driving standpoint, my gut instinct is that it's going to be more "better than the MKS" than "best American luxury sedan." Introducing the new front end and TTV6 engine on the MKZ before the Continental was a huge mistake.