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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.

Roll like bad, bad LeRoy Brown in this '74 custom Continental

In the 1973 number one hit single, "Bad, Bad LeRoy Brown," Jim Croce sings about a gentleman from the South Side of Chicago who has "a custom Continental and an Eldorado, too." The Eldorado presumably was unremarkable factory fare, but we have to believe that the custom Continental Croce was thinking of when he wrote the song was something very much like this Lincoln Continental Mark IV. For sale right now on eBay Motors, the car was customized, apparently when new, by ASC (American Sunroof Corporation). The client was not LeRoy Brown but was a Mr. Ronald M. Nassar, and his name is engraved on gold plaques on the door armrests. Mr. Nassar was an industrial designer and worked at ASC. The makeover is quite extensive. Besides the chrome wire wheels wrapped in wide whitewalls, pinstriping, and the twin leaping greyhound hood ornaments, there's an entirely customized padded vinyl top. The factory oval opera windows are replaced with vertical oval oper windows, and landau bars are applied. The rear window is also oval. Inside, the gold crushed-velour upholstery and factory fake woodgrain merely provide a starting point. The custom features include a refrigerator/food warmer, a crystal goblet holder on the dash, and a television built into the back of the center console. Note what looks like a miniature oil painting on the inside C-pillar. In the trunk, there's a fur spare-tire cover. Perhaps the most amazing aspect of this creation is that it has been driven less than 100 miles. Ever. The odometer shows just 64 miles, which is supported by the lack of wear showing on any of the interior items. The floor mats look like they have never been sullied by the soles of anyone's shoes, and those are just the factory mats. A set of white fur floor mats in a plastic bag are also included. The asking price is $18,900, which is certainly not out of line for a vehicle of such inimitable 1970s style. For an even greater dose of Mr. Nassar's vision, check out his home, which went on the market two years ago. It's not on the South Side of Chicago, but the north side of Detroit, and it makes this Lincoln look understated. Featured Gallery custom '74 Lincoln Continental Mark IV View 10 Photos Lincoln Coupe Luxury Classics

Lincoln may add suicide doors to future Continental

There's been plenty of uncertainty surrounding the future of the Lincoln Continental, a nameplate revived only 18 months ago but struggling to move units as sedans submit subduction-style to the techtonic boom in crossovers. We recently shared a report that the Continental won't live to see another generation after selling just 18,846 units in its year-and-a-half back on the market. Now comes a report from Automotive News saying that Lincoln at the 2018 NADA convention in Las Vegas showed a photo of the Continental with rear-hinged doors and said it plans to manufacture it. The publication cited several dealers who were in the room but didn't want to be identified. Lincoln, of course, isn't saying anything about rear-hinged suicide doors except to say that "Continental is an important part of the Lincoln family." The announcement at NADA was reportedly meant to convey a commitment to cars by Lincoln, which has been buoyed by crossovers like the MKC and its red-hot Navigator large SUV. There was no word on timing or other details about the suicide door-equipped Continental. Lincoln sold just 1,573 units of the sedan through February, down about 25 percent on the annualized monthly rate. Still, if Lincoln wants to plant its flag in the car segment, then its flagship is probably a good place to start. The Continental nameplate, which was revived in New York in 2015 as a concept, enjoys a long design lineage, of course, and boasted production suicide doors on the 1961 Continental Mk V. The luxury sedan also inspired one artist to reimagine the Continental as a two-door coupe, true to its original 1939 styling and demonstrating the car's versatility. And the car already has some concept-style futuristic touches, including hidden electric door handles and 30-way adjustable front seats. But suicide doors have mostly been relegated these days to concept vehicles, one-offs like this Rolls-Royca Sweptail and the Tesla Semi truck. So should we see this as a way for Lincoln to draw some attention to a struggling nameplate? Related Video: