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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.

2021 Lincoln Corsair Grand Touring brings plug-in hybrid tech to the small crossover

LOS ANGELES — When the new Ford Escape and Lincoln Corsair were launched, the Corsair was strangely lacking a hybrid variant like the cheaper Ford. The reason for this is that Lincoln was preparing a slightly more advanced hybrid for the small luxury crossover. The 2021 Lincoln Corsair Grand Touring elevates itself over the Ford by bringing plug-in capability and a different kind of all-wheel drive. At the front of the Corsair, the powertrain is the same as the Ford Escape. It's a naturally aspirated 2.5-liter inline-4 and an electric motor powering the front wheels. But at the back, Lincoln has added another electric motor with a single-speed transmission to power the rear wheels, just like Toyota has been doing in the all-wheel-drive versions of the Toyota Prius, RAV4 Hybrid and Lexus UX250h. In addition to giving the Corsair four driven wheels, it brings total horsepower up to 266 ponies, an increase of 66 over the Ford. Having this rear motor opens up lots of freedom for how much power is given to the rear wheels, and a Lincoln representative said that the rear can go into a coasting or free-wheeling state when cruising for efficiency. Supplying electricity to the Corsair Grand Touring is a floor-mounted 14.4-kWh battery pack. Lincoln estimates it will provide enough power for the Corsair to drive about 26 miles on a charge. Neither the battery nor the rear motor take up any interior space, so rear passenger and cargo capacity remain the same as the regular Corsair. Charging can be done at Level 1 or Level 2 chargers, with the former taking 10 to 11 hours and the latter taking 3 to 4 hours. DC fast charging is not available, something that's featured on the Mitsubishi Outlander PHEV. Hybrid mechanical bits aside, the Corsair Grand Touring is just like any other Corsair. The only indicators that it's a hybrid are the unique grille, 20-inch wheels, blue badging and additional door for the charging plug. The Grand Touring comes standard with Lincoln's cell-phone key system, automatic emergency braking, blind-spot monitoring, lane-keep assist and automatic high-beams. Automatic parking, a head-up display and adaptive cruise control are all options. Pricing hasn't been announced yet, but will likely revealed closer to the on-sale date in the summer of 2020. Looking at the price structure for the Aviator, which also has a Grand Touring plug-in hybrid variant, the Corsair Grand Touring could be priced above the current range-topping Reserve trim.

MKC Concept is the real fresh start for Lincoln [w/poll]

We were admittedly bullish about the Lincoln MKC Concept when we introduced it to you yesterday, as we were taken aback by how cohesive the C-platform crossover is in the metal. As it turns out, so were you, dear reader. With hundreds of comments booked on our original Deep Dive story, the overwhelming temperature of the Autoblog Commenteriat is one of surprise and delight - quite an accomplishment for a marque that many had written off for dead. The reception here under the bright lights of the Detroit Auto Show appears to be no less positive, but we thought you might want a second, closer look afforded by these live photos.
Lincoln remains mum on production MKC drivetrain specifics (we're thinking it will start with the 2.0-liter EcoBoost four-cylinder out of its similarly sized Ford Escape relative, or maybe the midlevel 1.6-liter), but we shouldn't have to wait too long. The showcar is expected to closely mirror the production model (due as early as later this year), so much so that Ford global marketing boss Jim Farley explicitly told the press conference masses, "When you see the MKC, do not think concept." That's good news, as the MKC is pivotal to Lincoln's effort to rebuild awareness and consideration on the back of its MKZ sedan, a model just now going on sale. In fact, with the small crossover segment exploding, the MKC could very well turn out to be more important to the brand than the MKZ.
After seeing these new photos, are you more or less enamored with Lincoln's new concept? Leave a comment after voting in our poll below.