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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 Continental suicide doors: A lot has changed since 1961

It looks like we've hit peak Lincoln Continental for the 21st century with the Coach Door Edition. At least, 80 people will be enjoying the best that Lincoln (and Cabot Coach Builders) can offer. We figured now was a perfect time to look back at the original Continental with suicide doors, now that there's a return to form. Make sure to scroll through the barrage of historical Continental photos Lincoln provided to us from its archive above. Lincoln was aiming to offer a design throwback to the 1961 Continental with its return to suicide doors. Back then, Lincoln wanted a car to compete with GM's " Standard of the World," ergo Cadillac. The goal was to make a car so enticing that people might want to buy a Lincoln instead of a Cadillac as their next luxury-mobile. It never stomped down Cadillac, but the Continental made a strong statement. Sales spiked at 54,755 Continentals in 1966 – Cadillac sold 196,685 cars that same year. For nine years (1961-1969), Lincoln made the Continental with suicide doors as the only option (barring the two-door coupe introduced in 1966). The car was offered as a four-door convertible or hardtop for most of the suicide-door generation, but the convertible was dropped after 1967. It was the droptop that was most iconic, and the car many of us picture today when thinking about that Continental. The pillar-less look of the Convertible with the top removed and the doors swung wide exudes class and luxury. This generation of Continental appeared in movies like "James Bond's Goldfinger", and more recently in "The Matrix." Celebrities owned them back in the day. Who doesn't want to exit their large convertible through suicide doors onto the red carpet, right? 2019 Lincoln Continental Coach Door Edition View 51 Photos Obviously, Lincoln wanted the normal Continental released for model year 2017 to take the world by storm. As rumors swirl of its untimely death after 2020, it's safe to say the new Continental hasn't exactly done that. What if it had suicide doors to begin with? Would we have been looking at the next Mercedes beater? Probably not. But still, we would have been blown away if that's what Lincoln showed us at the 2016 Detroit Auto Show. Maybe those in the market would have been too. The new Continental with suicide doors serves an entirely different purpose than the original. Producing only 80 of them makes sure of that. Maybe a few celebrities will buy one, but this one won't have the same cultural impact of the old.

Feds Probe Power Steering In 938,000 Ford Midsize Cars

U.S. safety regulators are investigating complaints that the power-assisted steering can suddenly fail on three Ford midsize car models. The probe covers 938,000 Ford Fusion and Lincoln MKZ cars from the 2010 through 2012 model years, as well as the 2010 and 2011 Mercury Milan. The National Highway Traffic Safety Administration says it has received 508 complaints alleging that the cars lost power-assisted steering, causing increased steering effort. Four complaints say the problem caused crashes, but no injuries were reported. The agency says in documents posted Monday on its website that in many cases, a warning message appeared as the failure happened. Restarting the car corrected the problem in some cases, but the problem returned in others. The agency says it will check the scope and frequency of a problem. It could seek a recall. Ford says it's cooperating with the probe. Shares of Ford Motor Co. rose 6 cents to $14.65 in morning trading Monday. Its shares are down 14 percent over the past year. Related Gallery Our Favorite Hot And Sporty Cars For 2015 Recalls Ford Lincoln NHTSA Ford Motor Company power steering mercury milan investigation