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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.

These are the slowest-selling new cars of 2024

While overall sales numbers are a solid indicator of an automaker’s success, another metric can show how well its new vehicles resonate with buyers on the ground. iSeeCars recently released a list of the fastest- and slowest-selling new car companies on the market, and a handful of brands appear to have some catching up to do. Lincoln landed the “top spot” among slow-selling brands, taking an average of 82.6 days to move inventory. Infiniti wasnÂ’t much better, at 79.8 days, and Buick came third with 79 days to sell.  Slowest-selling new cars of 2024 Lincoln: 82.6 days to sell Infiniti: 79.8 Buick: 79 Audi: 75.1 Ram: 69.7 Ford: 68.1 Dodge: 67.4 GMC: 66.6 Acura: 65.4 Lexus: 64.5 iSeeCars executive analyst Karl Brauer noted that the fastest-selling brands, which include Toyota, Alfa Romeo, and Cadillac, likely move inventory because they resonate with buyersÂ’ desire for value and a compelling product. The study also noted that seeing GMC, Ford, and Ram so low on the list likely indicates slowing truck sales, which comprise a significant portion of those brandsÂ’ numbers. ItÂ’s also possible that buyers are turned off by higher prices from those brands. Fast-selling new car brands also appeared on the used car list, where Honda, Lexus, and Toyota dominated. Unfortunately for Lincoln, it also made the slow-selling used list, between Maserati as the slowest and Alfa Romeo in third. iSeeCarsÂ’ analysis also examined EV and hybrid sales and found that hybrids tend to sell much faster than their electric counterparts. In March 2024, new hybrids took an average of 49.5 days to sell, while EVs took 70.6 days. That again brings us to the price and value arguments, where hybrids are significantly less expensive than EVs, though charging and range concerns also likely play a role. By the Numbers Green Buick Infiniti Lincoln Car Buying

Lincoln Anniversary Concept is the future looking at the past

Remember the Audi SkySphere concept the German automaker revealed on August 10? The long, low, meaty two-door designed in Malibu, California that previewed elements of Audi's coming design language? This is not that car. This is the Lincoln Anniversary concept, a long, low, meaty two-door designed at the ArtCenter College of Design — about an hour away from Malibu — as a potential preview of Lincoln design elements. There's clearly something in the waters of the communal car design trend pool, and we dig it. A few months ago, Lincoln announced it had partnered with the ArtCenter, inviting students to create four concepts that they'd showcase as integral parts of meaningful stories about people. The transportation students worked with classmates in other disciplines like film and animation to imagine what Lincolns might be like in 2040 and beyond, and create short films to put the concepts and stories in motion inside future worlds. One concept needed to hold two people, one to hold four, another would hold four at elevated ride height, and the largest would be a six-passenger vehicle. All of them had to deliver on Lincoln's promise of Quiet Flight driving and a theme called C.A.S.E., for connected, autonomous, shared and electric.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Lincoln x ArtCenter College of Design | Quiet Flight 2040 The Glider concept served two people in sedan form, inspired by the Zephyrs and Continentals of yore. As the star of the short "Now You Drive," a son picks up his wheelchair-bound father in the Glider and puts his father in the driver's seat, placing the wheelchair in the back. The father takes the wheel and drives for the first time in years, while the autonomously-capable sedan retracts the throttle and brake pedals and manages speed on its own. Designer Jin Kim posted detailed breakdown of his development work on the Glider, as well as the short film. The page is well worth a visit.       A four-seater SUV concept in the short "Amongst the Stars" features touch-screen windows and an augmented reality panoramic roof. The protagonist gets her first taste of a wide starry night during a family trip to White Sands National Park looking through the glass, the roof aiding her curiosity with displays like highlighting and naming constellations.