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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.

Production Lincoln Continental will debut at Detroit Auto Show

The Lincoln Continental concept that debuted at the 2015 New York Auto Show was an absolute star of the event thanks to its handsome lines and sumptuous interior. At the 2016 Detroit Auto Show, we'll get to see how well those fantastic looks transition to the road, as Lincoln will debut the production version there, according to Car and Driver. A market launch will reportedly come later in the year. The stately styling, including the mesh grille, is expected to move largely unaltered to production, but Lincoln is still being vague about the luxury sedan's mechanical parts. The brand's marketing manager Imran Jalal tells Car and Driver the Continental is based on a front-wheel drive platform but an all-wheel drive version in assured. Based on details from the New York show, it reportedly uses a Lincoln-exclusive 3.0-liter EcoBoost V6 for power. There are no plans for a hybrid, either, according to Jalal. Assembly of the Continental is expected to happen at Ford's Flat Rock, MI, factory alongside the Mustang and Fusion. The MKS, which the new Lincoln replaces, is built in Chicago along with several other models. Freeing up the space there, could let the Blue Oval keep up with demand for the Explorer. While the Continental ushers in styling changes for Lincoln, the shift doesn't extend to model names. Contrary to earlier rumors, the brand doesn't intend to abandon the MK model names in the lineup anytime soon, according to Jalal. Related Video:

2016 Lincoln MKX images and details hit the web

Well, what do we have here? In what we're assuming is an accidental leak, a live URL from Lincoln Canada has been brought to our attention, and it's chock full of information on a new 2016 Lincoln MKX that we figure will most likely see an introduction at the Detroit Auto Show right around the corner. "Inspired by airplane design," says Lincoln, we see a good bit of the smaller MKC in the design of the next MKX, and that's a good thing. We note HID lights with LED accents, a Panoramic Vista Roof, a hands-free power liftgate and a 360-degree camera mounted behind the front Lincoln emblem as tasty exterior details to look forward to. Inside is what appears to be a pretty darn beautiful cabin, with available Bridge of Weir leather seats with optional heating and cooling, plus 22-way adjustability. Open-pore wood in either walnut swirl of olive ash looks classy, and the newly available Revel audio with 13 or optionally 19 speakers ought to work well with the car's active noise control to provide a serene driving experience. We're not entirely sure what infotainment system the 2016 Lincoln MKX will boast, but the images appear to show a version of the much-maligned MyLincoln Touch interface, and not the upcoming Sync 3, although at least there is more physical switchgear for the HVAC, as on the MKC. As far as the vehicle's engine and chassis, we see mention of an available twin-turbo 2.7-liter EcoBoost, but there's no power rating just yet – we know it will be more than 300 horsepower, but how much more is still unknown. There's no mention of the 2016 MKX's transmission, which makes us think it will probably offer the same six-speed unit as the Ford Edge. On the plus side, there will be adaptive steering to go along with three driving modes – Normal, Comfort and Sport. Lincoln Drive Control with continuously controlled damping also sounds beneficial. That's all we know so far, but we're looking forward to getting all the details, hopefully in just a few days, since the vehicle is said to be hitting showrooms in the summer of 2015. In the meantime, check out the image gallery above, and feel free to read a lengthy discussion about the leak at the FordInsideNews.com forum. Featured Gallery 2016 Lincoln MKX Leaked Images View 14 Photos News Source: Lincoln Canada via Ford Inside NewsTip: Michael Detroit Auto Show Lincoln Crossover Luxury 2015 Detroit Auto Show lincoln mkx