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U.S. new-vehicle sales in 2018 rise slightly to 17.27 million [UPDATE]

DETROIT — Sales of new vehicles in the U.S. rose slightly in 2018, defying predictions and highlighting a strong economy. Automakers reported an increase of 0.3 percent over a year ago to 17.27 million vehicles. The increase came despite rising interest rates, a volatile stock market, and rising car and truck prices that pushed some buyers out of the new-vehicle market. Industry analysts and automakers said strong economic fundamentals pushed up sales and should keep them near historic highs in 2019. "Economic conditions in the U.S. are favorable and should continue to be supportive of vehicle sales at or around their current run rate," Ford Chief Economist Emily Kolinski Morris said after the company and other automakers announced their sales numbers Thursday. That auto sales remain near the 2016 record of 17.55 million is a testimonial to the strength of the economy, said Mark Zandi, chief economist at Moody's Analytics. The job market, he said, has created new employment, and wage growth has accelerated. "That's fundamental to selling anything," he said. "If there are lots of jobs and people are getting bigger paychecks, they will buy more." The unemployment rate is 3.7 percent, a 49-year low. The economy is thought to have grown close to 3 percent last year, its best performance in more than a decade. Consumers, the main driver of the economy, are spending freely. The Federal Reserve raised its key interest rate four times in 2018 but is only expected to raise it twice this year. Auto sales also were helped by low gasoline prices and rising home values, Zandi said. It all means that people are likely to keep buying new vehicles this year even as they grow more expensive. The Edmunds.com auto-pricing site estimates that the average new vehicle price hit a record $35,957 in December, about 2 percent higher than the previous year. It will be harder for automakers to keep the sales pace above 17 million because they have been enticing buyers for several years now with low-interest financing and other incentives, Zandi said. He predicts more deals in the coming year as job growth slows and credit tightens for higher-risk buyers. Edmunds, which provides content, including automotive tips and reviews, for distribution by The Associated Press, predicts that sales will drop this year to 16.9 million.

Chevrolet Colorado ZR2 concept suggests a diesel off-road future

"It takes the Colorado to a whole new place." – Mark Reuss The Chevrolet Colorado looks set to gain a more capable off-road version, with the company previewing a potential design direction with a ruggedized concept Wednesday at the Los Angeles Auto Show. Called the Colorado ZR2, the concept brings back the name used on off-road-tuned S-10 and Blazer models in the 1990s and 2000s. The ZR2 has a track that's four inches wider than the Colorado Z71, which is currently the line's most capable off-roader. The ZR2 is fitted with a new grille, power-dome hood, custom wheel flares and off-road-style fascia that reduces overhang and has flip-out aluminum tow hooks. It's all slathered in an outdoorsy hue dubbed Cyprus Green. The are electronic locking front and rear differentials, skid plates and mono-tube coilover shock absorbers. It all rolls (or crawls) on 275/65R18 off-road tires wrapped around custom 18-inch aluminum wheels. There's also a spare tire assembly mounted in the bed, which has a spray-in liner and 48-inch lift jack should things go afoul on the trail. "It takes the Colorado to a whole new place," Mark Reuss, General Motors executive vice president of global product development, said at the reveal. Power comes from the 2.8-liter Duramax diesel engine making 181 horsepower and 369 pound-feet of torque. This engine will arrive later in the year in the production Colorado. While the ZR2 remains only a concept, it suggests a new path for the Colorado – one we hope Chevy decides to take. Chevrolet Introduces Colorado ZR2 Concept Aggressively styled, more capable and driven by new 2.8L Duramax diesel engine LOS ANGELES – Chevrolet today introduced the Colorado ZR2 concept – a vision of how Chevrolet could take the all-new midsize truck's off-road capability to the next level. It also showcases the new 2.8L Duramax diesel engine that will arrive in the Colorado lineup later next year. The aggressively styled concept builds on the capabilities of the production Colorado Z71 and advances the legacy of Chevrolet's previous ZR2 production models. "From the bold stance to the trail-ready special equipment, the Colorado ZR2 is all about the fun of driving where the pavement ends – and doing it in characteristic Chevy style," said Tony Johnson, Colorado marketing manager.

AWD turbodiesel Equinox, Terrain dropped for 2020

Citing low demand, General Motors is dropping the AWD diesel options off the Chevrolet Equinox and GMC Terrain roster. Chevrolet spokesman Kevin Kelly confirmed to CarsDirect that for 2020, the diesel versions of these SUVs will only be offered with front-wheel-drive. CarsDirect notes that with the AWD diesel Equinox and Terrain gone, the only AWD diesel option in this class is the Mazda CX-5 Skyactiv diesel, which is significantly more expensive: As the AWD diesel CX-5 is only available in a fully loaded Signature specification, the $42,045 price tag is almost $10k heftier than the cheapest comparable Equinox, the AWD 1.6-liter diesel LT which starts from $32,495. The 2019 GMC Terrain AWD SLE costs $34,795 in comparison, which works out to being around $7,200 cheaper than the Mazda. The higher trim levels for the Equinox and Terrain are Premier and SLT, respectively. Some reasoning behind the AWD diesel GM SUV's low uptake is their own price difference to base FWD gasoline models: you can get a 1.5-liter Equinox for less than §25,000 listed. While the 2.2-liter Mazda has plenty more power at 168 hp and 290 lb-ft, compared to 137hp and 240 lb-ft in the 1.6-liter GM SUVs, the Equinox and Terrain are notably more frugal – they are rated 32mpg combined, while the Mazda can manage 28 mpg. With better fuel economy and a significantly lower list price, the General Motors twins are at least more wallet-friendly when it comes to numbers, and as the vehicles will cease to be built in that configuration there's likely to be some cash on the hood on ones in stock. News Source: CarsDirectImage Credit: Chevrolet Chevrolet GM GMC confirmed gmc terrain chevrolet equinox