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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.

2023 Lincoln Aviator gets a few small changes, small price bumps

The 2023 Lincoln Aviator Lincoln makes a few small changes to its offer, as related by Ford Authority. On the feature side, the 12-way Comfort Front Seats for driver and passenger are gone. The bottom three trims, Standard, Reserve and Grand Touring all come with a 10-way Comfort Front Seat for the driver and an eight-way throne for the passenger. The Black Label and Grand Touring continue with their 30-way Perfect Position front seats. Outside, the Bronze Smoke Metallic and Burgundy Velvet Metallic colors depart the exterior palette, replaced by Diamond Red Metallic Tinted Clearcoat and Jewel Sandstone. The Jet Package expands availability to the base Reserve trim, no longer requiring the Reserve I package, and to the Black Label, which didn't offer it before. The package full of black trim pieces and wheels hasn't changed from when Lincoln introduced it a year ago, including bits like a solid black grille and surround, black door spears and mirror caps, and 22-inch black aluminum wheels. A similar package exclusively for the Black Label trims is called the Black Label Special Edition Package. It makes the same changes as the Jet Package while also painting the roof black. Finally, the Illumination Package for the Grand Touring PHEV adds fog lights for 2023. Prices for the 2023 model year after the $1,195 destination charge are up a little over the sums we noted when the 2022 model year debuted. Remember, however, that 2022 pricing went down on all but one trim by anywhere from $5 to $1,085. The new MSRPs are in line with model year premiums we're used to seeing from a time before industrial upheaval. The figures and their differences from 2022 are: Standard: $54,535 ($1,875) Reserve: $59,700 ($1,150) Grand Touring: $70,385 ($830) Black Label: $81,920 ($1,375) Black Label Grand Touring: $90,475 ($1,375) Engine choices don't change, those being the twin-turbo 3.0-liter EcoBoost V6 with 400 horsepower and 415 pound-feet of torque for all trims but the Grand Touring PHEV. The plug-in hybrid electrifies that engine to make a combined 494 hp and 630 lb-ft. Every Aviator shifts through a ten-speed automatic. The Aviator has sold 20,324 units so far this year. Based on figures for the past three years, we anticipate it will finish above last year's 20,324 sales and 2020's tally of 23,080 sales. A refresh expected in 2024 should bring more substantial updates and improvements.  Related video: This content is hosted by a third party.

Landau yachts: The history of Lincoln's Designer Series

The Lincoln Designer Series was introduced in 1976, at the end of the imposing Mark IV Continental generation. Four big-name fashion designers of the era – all-American country clubber Bill Blass, psychedelic Italian pattern-maestro Emilio Pucci, venerable French jewelry-maker Cartier, and a la mode French fashionista Hubert de Givenchy – were asked to slather their elegance on LincolnÂ’s personal luxury coupe. This experiment was a wild success. According to documents uncovered in the Lincoln archives – with the incomparable guidance of official brand historian Ted Ryan – the Designer series “accounted for more than 27% of Mark IV sales” shortly after its introduction. It was such a runaway hit, that it continued on throughout the even larger Mark V generation (incidentally, the longest coupe ever produced by Ford Motor Company), and didnÂ’t really peter out on these big two-doors until the early 1990s.   But the true history of the series well predates the era of opera windows, crushed velour and wire wheel covers. “If you take a step back even further, when Ford purchased Lincoln in 1922, Edsel Ford was put in charge of the company. But more than that, he helped establish the first design studio at Ford,” said Ryan. The basic Model T didnÂ’t take much design. Lincoln was different. Edsel is famed for his quote. “Father wanted to make the most popular car, I wanted to make the best.” The specific genesis of the Designer Series, however, came along as a result of a long-term personal connection with the marqueÂ’s first chairman. “Edsel Ford had a relationship with Cartier, and correspondence going throughout the 1920s and '30s,” Ryan said. “His personal cards and stationery were always ordered from Cartier.” This enduring link wasnÂ’t formalized until the late 1960s. “I found in product development files, in 1967, that Ford had gone to Cartier for a special 1970 Cartier Continental coupe,” Ryan said. According to internal documents, this package would include unique interior leather/cloth/vinyl surfaces and trim, modified dials, and a Cartier jewelry box, as well as golden plating on the steering wheel ornament, dial face ornaments, keys, C-pillar ornaments, door monograms, and dashboard plaque. “Think of that. A car that never was, that could have been,” Ryan said, wistfully. Some Cartier magic did get glossed on Lincolns in the late 1960s.