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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.

Woman keying luxury car caught on tape

Toronto police are on the hunt for a disguised woman who was caught on camera Sunday keying a car. The woman sported a red bandana over her face and baseball cap as she ran up to the Lincoln MKS in a driveway, the Toronto Star reported. She then went to town with a sharp object, gleefully scratching the car's paint job. She runs off after nearly a minute of enthusiastic damage. Police believe the victim and the vandal know each other, since the Lincoln is the only car in the neighborhood she hit. This is also the third time this particular car has been damaged. They suspect this woman is responsible for the previous incidents. Toronto police told the Star that it will likely cost Lincoln owner thousands to have his car repaired. Security cameras are great for catching vandals in the act, though the videos are difficult for any car enthusiast to watch. Take for instance this video from London in April of a man scratching an Aston Martin while pushing a baby stroller. News Source: The Toronto Star Lincoln Videos vandalism scratch

2019 Lincoln Continental will cost as much as $5,000 more

Rumors have been swirling for months about the fate of the slow-selling Lincoln Continental amid Ford's larger plans to pare cars from its lineup in favor of trucks and SUVs. But now comes word of official order guides that show the 2019 Continental priced as much as $4,925 more than the previous year's model. That price bump brings more perks for buyers, however. According to CarsDirect, all models will get adaptive cruise control and the Lincoln Co-Pilot360 suite of safety technology, which includes automatic emergency braking, blind-spot information system and rearview camera. The base level Continental Premiere will start at $47,140, including destination fee, which is $985 more than the 2018 model. The Reserve model is where the starting price jumps $4,925 to $60,705. It adds technology like a 360-degree camera, heads-up display and park assist, plus heated rear seats and steering wheel and windshield wiper de-icer. The top-of-the-line Black Label edition starts at $71,040, an increase of $4,630, and adds 30-way adjustable seats. Those prices are considerably cheaper than comparably equipped competitors like the Audi A8 or BMW 7 Series, of course, but that value proposition hasn't so far managed to help the sedan's fortunes. Lincoln sold 12,012 models of the Continental in 2017, according to CarSalesBase.com. Sales through August were 5,677, which is more than 29 percent off the pace at this same point last year. Lincoln revived the storied Continental nameplate back in 2015 to much fanfare, but its market release in 2016 was a victim of bad timing, coming amid a rising tide of crossovers. Earlier this year Lincoln reportedly showed dealers photos of a Continental with rear-hinged suicide doors that it said it planned to manufacture, which may be an attempt to drum up interest. Jalopnik, citing unnamed sources familiar with Ford's product plans, says the Continental is likely to be killed off at the end of the run of the current model in 2020. That aligns with what a user on the Blue Oval Forums is saying, that shift changes at the Flat Rock Assembly plant near Detroit are coming and that workers have been told the Continental can be phased out of production by next summer. One supposed possibility is Ford moving production to China, though any plans to import sedans to the U.S. from there would seemingly be negated by the same Trump administration tariffs that killed plans to import the Ford Focus Active. Related Video: