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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 video teases new things to come... but what?

Lincoln has released a new video teasing... something. In what looks to be an advertisement for more advertising, the company has worked up a clip featuring everything from a drum solo and a flying hawk to Abraham Lincoln himself. The video shows a few shots of what looks to be an MKZ and promises more news is coming on Monday.
What does the company have up its sleeves? Rumors are bouncing around the web like so many ill-informed ping-pong balls, and cover everything from an alternative powertrain for the MKZ to a new two-door model - noise that is underscored by the presence of a Ford Mustang chassis lurking in the background of the video around the 27-second mark (see screen capture above).
Could Lincoln be considering a rear-wheel drive luxury coupe built on the pony's bones? A move like that seems awfully unlikely, but it certainly wouldn't hurt our feelings. Either way, we'll find out more tomorrow. In the interim, check out the teaser video below for yourself.

Slew of Ford recalls affect more than a million vehicles

Ford is closing out September with the sad task of alerting owners to five different recalls, two of them camera related. The first is a safety compliance recall affecting 620,246 units of 12 models from the 2020 model year: Edge, Escape, Expedition, Explorer, F-150 and Super Duty, Mustang, Ranger, and Transit, plus the Lincoln Corsair, MKX, and Nautilus. On these vehicles, the circuit board in the rearview camera suffers from insufficient electrical conductivity. The issue can cause the resulting image to not appear or to be distorted, which can lead to an accident while reversing. Ford will begin notifying owners as of November 7 to get their vehicles to dealers for replacement of the rearview camera. The internal Ford reference for this recall is 20C19. The second camera-related issue affects the 2020 and 2021 Ford Explorer, Lincoln Corsair and Lincoln Aviator with the 360-degree camera. Technically, if you own a 2021 Explorer that only has a rearview camera and not a 360-degree camera, neither the above recall nor this one apply to you, but it's probably better safe than sorry here. There are 354,330 crossovers covered by this action. A video output issue could cause the displayed image to cut out, increasing the chances of a reversing accident. Ford will notify dealers starting October 7, the fix being to have a dealer update the Image Processing Module software. The NHTSA campaign number for this recall is 21V735, Ford’s internal reference number is 21S44.  The F-250 and F-350 Super Duty are in for another recalls thanks to potentially improper welds on the front axle's wheel end yoke. A bad weld could alter steering performance, getting the truck to pull left or right, or change the sensitivity of the steering. There are 9,628 affected trucks in the U.S. and 961 in Canada. Dealers will replace the axle assembly if any bad welds are found. Ford's reference number for this is 20S56. The fourth recall affects 38,005 Mustangs in the U.S. and another 2,873 Mustangs in Canada and Mexico from the 2020 model year. In this instance, the brake pedal bracket might fracture during sudden stopping, which can decrease brake pressure and increase the chances of an accident. Ford's internal reference for this recall is 20S52, the fix being to have a dealer replace the brake pedal bracket assembly. Finally, 126,033 units of the 2011 to 2013 Explorer are being recalled over a potential suspension issue.