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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 Navigator is the people's choice for best of Detroit Auto Show

At a big auto show, you hear a lot of from automotive journalists about the outstanding cars on display — for example, Autoblog's own editors' choices from the Detroit Auto Show. But the Detroit News does something neat instead. It asks the public to vote in its annual Readers' Choice Awards. And coming out on top was the 2018 Lincoln Navigator. The newspaper collars 100 attendees at the North American International Auto Show and asks them to vote. This year, the public's pick as Best of Show coincided with the North American Car of the Year voters, journalists who picked the Navigator as the Truck of the Year. (We at Autoblog were wowed by the Navigator, too, but our editors' choices were limited to vehicles that were revealed at the show — the Navigator has been out long enough, that we've actually driven and reviewed it.) The Navigator on display at the show has the ultra-plush Black Label interior. It's a $95,000 rig. No surprise then that hit was also the public's choice in the category of Best Road-Trip Ride. The public's other choices: Best Dream Machine — Ford GT. Best Family Fun Finder — Chrysler Pacifica. Baddest Off-Road Vehicle — Jeep Wrangler Rubicon. Coolest Technology — BMW i8 Roadster. Most for Your Money — Kia Stinger. (Commenters on our recent Drivers' Notes review said the Stinger was a media darling the public won't buy, but these voters, at least, liked it.) Best Future Concept — Infiniti Q Inspiration. Most Eco-Friendly — Smart Fortwo. Most Amazing Mobility — Toyota Concept i-Walk. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2018 Lincoln Navigator: First Drive View 53 Photos Auto News Detroit Auto Show Lincoln SUV Luxury 2018 detroit auto show

Lincoln says MKZ supply crisis over

After an excessive number of recalls on the 2013 Escape and Fusion, we can't really fault Ford for being a little extra cautious with the launch of the 2013 Lincoln MKZ. Last month, we reported that dealer supply of the car was extremely limited due to more attention being paid to quality checks of cars rolling off the assembly line, which led to a 73-percent drop in MKZ sales from last year on top of a 32-year low in monthly sales for Lincoln in January.
The reason for the delay was that the sedans were being shipped from the Hermosillo, Mexico assembly plant to be inspected even closer at Ford's Flat Rock, Michigan plant before they were able to head to dealers. Things seem to be straightening out for Lincoln and the MKZ's production now, as Automotive News is reporting that supply should be up to a "normal level" by the end of this month.