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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.

How Lincoln could make itself special again

Things are going better for the Lincoln brand — or, more properly, The Lincoln Motor Company — so far this year, and are likely to continue to do so, comparatively speaking. In the first quarter of 2017, the brand's sales are up 8.7 percent compared with the same period last year. Lincoln delivered 27,083 units in the first quarter. The Continental is certainly a boon, with 3,209 units (almost 12 percent of the total number), something Lincoln didn't have in the first quarter of 2016. Its crossovers, the MKC and MKX, were up 15 and 11.2 percent, respectively, and while the Navigator SUV was down 16.2 percent, the new 2018 model will certainly boost that nameplate. Still, there is undoubtedly a glass — or crystal — ceiling for Lincoln (as well as for Cadillac) that it's not likely to break through regarding total US sales. No matter how you look at it, the US luxury market is dominated by import brands, and there is no reason to think that's going to change. Ever. According to Autodata, for the first quarter of 2017 there were 213,817 luxury vehicles delivered, of which 170,780 were from import brands and 43,037 domestic. While there is a good likelihood that Lincoln will gain some ground, given the lineup extensions that the likes of Mercedes, Audi, BMW, and Lexus are making, as well as the creation of new brands like Genesis and the traction of Tesla, it is going to be all the more challenging for any company to get any significant growth in the luxury category. So growth for Lincoln, yes. Notable growth? No. But there is something the company could do to generate revenue separate from the car and crossover business. It may not make a lot of money in and of itself, but it can provide a distinct edge in the product segment that would cement Lincoln with a unique offering. Kumar Galhorta, president of Lincoln, frequently talks about "experiences." About how the company is working to relieve or eliminate "pain points" from its customers. About how time — or the perceived lack thereof — is something Lincoln is working to address. And it's doing so in a way that gives it a distinctiveness vis-a-vis the competitive set. Lincoln's services are creating a buzz in a way that Matthew McConaughey ads never will. Lincoln is addressing it through service. As in offering pickup and delivery for service appointments for all new 2017 Lincoln models.

2023 Lincoln Corsair First Drive Review: Gimme back my buttons!

While 2023 brings only a refresh to the Lincoln Corsair, it’s a fairly robust one. It loses an engine, gains BlueCruise and receives an interior overhaul featuring a new infotainment screen running the latest version of Sync 4. Corsair may be LincolnÂ’s best-seller, but it competes against a variety of big-sellers in terms of both size and price. Take your pick from the likes of the Cadillac XT4, Audi Q3, Lexus NX or the BMW X1, just to name a select few; and soon they will be joined by Alfa RomeoÂ’s new Tonale, which lines up surprisingly well with the baby Lincoln. Like virtually everything in its class, the 2023 Lincoln CorsairÂ’s standard engine is a 2.0-liter turbocharged four-cylinder, which in this case produces 250 horsepower and 275 pound-feet of torque.  Gone is the previously available 2.3-liter upgrade that apparently wasnÂ’t popular. For 2023, the only other option is therefore the returning plug-in hybrid model, which produces a reasonable (and carry-over) 266 horses. Unlike the Escape PHEV on which itÂ’s based, the plug-in Corsair comes standard with all-wheel drive. With just 16 more horsepower compared to the 2.0T and more than 560 additional pounds to motivate, it relies on the instant torque of its electric motors to get off the line with authority. Lincoln gave us the choice of sampling either the standard turbo-four or PHEV for our quick outing in the Corsair; we opted for the plug-in for symmetry with our 2021 outing. As with virtually all midcycle updates, some exterior styling elements were updated or deleted. The grille is taller (and consequently larger) and is framed on the bottom by a new horizontal protrusion. PHEV models get a metallic foiling effect on the grille mesh. In the rear, itÂ’s business as usual. Inside, the dash is redesigned around a new 13.2-inch touchscreen running Sync 4.0. Besides an updated user interface (more on that later), the screen now houses virtually all of the media and climate controls that were previously located as buttons and knobs on the LincolnÂ’s center stack. All that remains on the consequently shrunken stack is a single volume knob and various vehicle controls like max defrost, auto stop/start and the hazard lights. The start/stop button has also been relocated next to the piano-key transmission controls. Through all of that, Lincoln managed to make access to the enlarged media storage bin easier. Yay?