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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 reveals the posh and powerful 2018 Navigator

If you were a fan of the Navigator concept from last year's New York show, we've got good news. The production Navigator looks just like it. Sure there are subtle changes. The gullwing doors are gone, but no one should be surprised by that. A side effect is that it has conventional chrome door handles, too. The lower grille in the front bumper is a tad different, and the rear taillights are a bit thicker, but the overall look has stayed the same. That includes the tall, regal grille with a mesh consisting of Lincoln badge outlines, the side vents on the fenders, and those beautiful, intricate turbine wheels. On the top-of-the-line Black Label models, the Navigator gets an illuminated badge that lights up with the puddle lights when the driver approaches. View 15 Photos Since the Navigator is based on the Ford Expedition, it's unsurprising that they're very similar mechanically. The Navigator has aluminum construction, and it's propelled by a version of the twin-turbocharged 3.5-liter V6 found in so many Ford products. However, the Navigator's engine makes an impressive 450 horsepower compared with the expected 375 horsepower from the Expedition. Those plush ponies goes through a 10-speed automatic transmission. Inside, the Navigator stays true to the concept, and most important, shares essentially nothing with the plebeian Expedition. Like in the concept, the dashboard is low and wide and features plenty of wood and leather. The instrument panel is a configurable 12-inch display, and to its right is an upright, floating touch screen for infotainment. The buttons for shifting hang off the trailing edge of the dashboard, where a gap opens between it and the center console. The console houses the climate control buttons, and rises to meet the dash. Aside from the luxurious dash, occupants are treated to the Continental's 30-way adjustable front seats, which are heated and cooled. The interior should be whisper quiet as well, thanks to laminated front and side glass. This should allow passengers to better enjoy the available 20-speaker Revel II sound system even more. Plenty of gizmos and tech are at the fingertips of Navigator drivers, too. One of the more unique tidbits of technology are the adaptive headlights. At low speeds, the headlight beam is very wide to illuminate objects or pedestrians on the sides of the road. However, at high speeds, the beam narrows to reduce glare from street signs.

2015 Ford F-150 named Truck of Texas, Lincoln and Jeep also awarded at Truck Rodeo

The Ford Motor Company has a lot of reasons to celebrate after winning eight categories in this year's Texas Auto Writers Association's annual Truck Rodeo. Most important among them, the Blue Oval's latest 2015 Ford F-150 earned the prestigious Truck of Texas award, ending the Ram 1500's two-year winning streak. The 2015 Lincoln MKC also grabbed the honor as the CUV of Texas, and Ford was named Truck Line of Texas.
FoMoCo even took trophies for best technology with its extensive use of aluminum on its latest F-Series and best commercial vehicle for the new Transit 250. It wasn't a total sweep, though, because the Jeep Grand Cherokee grabbed the title of the SUV of Texas for the fifth straight time.
This year's event put 60 auto writers in 75 pickups, SUVs and crossovers and challenged them to find the best in a plethora of categories. All of the winners are listed below, and scroll down to read the full announcements from the Texas Auto Writers Association and Ford.