1970 Lincoln Continental Mark Iii 2dr Hardtop on 2040-cars

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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.

2022 Lincoln Aviator MSRP discounted from $5 to $1,085

Price changes continue apace over at Lincoln. The 2022 Navigator received price boosts from the single figure to four figures, the 2022 Corsair came down in price by anywhere from three to four figures. The penultimate crossover in the four-strong lineup, the Aviator, gets one price increase of $105 to go along with discounts ranging from $105 to almost $1,100. As with the Navigator and Corsair, though, the Aviator's destination price is up by $100, from $1,095 to $1,195, trimming those discounts slightly. Prices for the new Aviator and the changes from the last 2021 pricing are: RWD Standard: $52,660 ($5 less) Reserve: $58,550 ($130 less) AWD Standard: $55,160 ($5 less) Reserve: $61,080 ($110 less) Grand Touring: $69.555 ($1.085 less) Black Label: $80,545 ($105) Black Label Grand Touring: $89,100 ($980 less) Another pricing quirk is that AWD has got more expensive on the Reserve trim. Sending power to the front wheels cost $2,510 in 2021, now it costs $2,530.  The Aviator doesn't appear to pair the price drops with punishments. The only big change for the 2022 model is former Monochromatic Package being given even more black-out trim and a name change to the Jet Package. The Monochromatic Package left bits of chrome on the car, such as the grille surround, fender badges, and window surrounds. The Jet Package abolishes those shiny bits in favor of gloss black trim. The body-colored mirrors also go black, as do the grille centers and the 22-inch wheels. It's meant to be available early this year, but at the time of writing, it's still not on the Lincoln configurator. When it does arrive, it can be optioned with the exterior colors Infinite Black, Pristine White, Silver Radiance, and Burgundy Velvet. The Monochromatic Package cost $2,000, the Jet Package will likely push that number up a bit. Ford Authority reports that Ford engineers have also reduced the latest Aviator's tow rating from 6,700 pounds with the Class IV Trailer Tow Package to 5,600 pounds. That package is standard on the Black Label Grand Touring trim, a cost option on other trims. The 2022 model isn't long for this world, GMA saying the 2023 enters production on May 30th.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Submit your questions for Autoblog Podcast #311 LIVE

We record Autoblog Podcast #311 tonight, and you can drop us your questions and comments regarding the rest of the week's news via our Q&A module below. Also for episode #311, Dan, Zach and Autoblog Editor-in-Chief John Neff chatted with Dan Greenawalt, Creative Director of Turn 10 Studios, about Forza Horizon. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.
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