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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.

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

GMC Sierra spied with ZR2-style off-road modifications

A few months ago, the 2022 Chevy Silverado ZR2 was revealed with a bunch of off-road goodies to help it achieve a little more parity with trucks like the Ford F-150 Raptor and Ram 1500 TRX. But GM has another full-size truck, the GMC Sierra, and it would seem silly to us if the company didn't share those parts. Based on these spy photos, it seems GM agrees. Though thoroughly camouflaged, we can tell this truck is a GMC Sierra thanks to the sheetmetal on the doors and the distinct shape of the wheel arches. Under the wrappings, we can see that this Sierra features a very different front bumper to the current king of Sierra off-road models, the AT4X. The bottom edge is much higher for better clearance, particularly on the sides in front of the wheels. This is the same type of change applied to the Silverado ZR2's front end. It does appear to be missing the ZR2's skid plate, though we suspect that's a temporarily missing component on this prototype. One other off-road upgrade this Sierra features is a pair of rock rails to protect the rocker panels on the cab. What we can't see are the shocks installed on this truck. If this is a GMC version of the ZR2, it should have the spool-valve shocks from Multimatic. They're some of our favorite suspension components on any vehicle. Other components it should have are locking front and rear differentials, 33-inch tires and a standard 6.2-liter V8. Since the Silverado ZR2 is already revealed and ready for production, we would expect to see the GMC version soon. A good bet would be for a reveal in time for the 2023 model year. As for a name, it's hard to say, since we've already had AT4 and AT4X. It could be named something completely separate from the AT4 line. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.