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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.

2020 Cadillac XT5 light refresh shown in China ahead of U.S. reveal

We spied the lightly refreshed 2020 Cadillac XT5 not too long ago, but now we have official photos via China. Cadillac decided to reveal the mid-cycle refresh of its crossover on that side of the world, so the vehicle you're looking at here is a China-spec XT5. While this may be the case, many of the details unmasked about the vehicle will likely be seen here, too. Cadillac told us it will be able to confirm U.S. specifics in the near future. You may be wondering, what's different? Truthfully, there isn't much to the mid-cycle update from a visual perspective. The grille has been swapped for one that better matches all the other grilles in Cadillac's newest crossovers like the XT4 and XT6. Cadillac of China didn't include any photos of the rear for this light reveal. There are significant updates in other places, though. At least in China, Cadillac is giving the XT5 its new 2.0-liter turbocharged four-cylinder engine we first saw in the XT4. That engine produces a refined 237 horsepower and 258 pound-feet of torque. We can't say whether the crossover will or won't keep the 3.6-liter V6 option in the states, but adding the boosted motor won't come as a surprise. Along for the ride is GM's nine-speed automatic transmission that is paired to that four-cylinder. The interior looks largely the same, save for the addition of Cadillac's rotary knob to control the infotainment system. This follows suit with other newly-released Cadillacs that allow you to control the system with both the knob and the touchscreen. Another notable interior upgrade is the addition of the rearview mirror camera. Cadillac is clearly set on integrating this technology onto every car it makes, and we certainly don't have any qualms with that. One bit of tech that wouldn't be included for China but may present itself for the U.S. model is Super Cruise. We've been told to expect the driver assistance system to spread throughout the manufacturer's lineup, and the XT5 seems a perfect candidate for the tech. Watch out for more details and photos coming soon for the 2020 XT5, as Cadillac will be sharing more specifics on the U.S. version in due time.

Ringbrothers drops more hints about its wild SEMA creations

Ringbrothers isn't finished teasing its SEMA creations. First we got a sliver of rear quarter on a 1969 Chevrolet Camaro that revealed a bundle of carbon fiber and SEMA-obligatory deep-dish wheels. The Wisconsin tuner's now announced its litter of cars headed to the show and a few specs, along with two shadowy drawings. The Camaro, christened with the name Valkyrja and a two-tone paint job, gets stretched in two directions with severe fender flares to widen the body and an extended wheelbase. We're not sure what's happening with the Camaro's snout in the drawing, but under that bulging hood we'll find a 416-cubic-inch LS V8 from Wegner Motorsports. Wegner built the 416-cu-in supercharged LS3 V8 that powered Ringbrothers' 1,000-hp G-Code Camaro in 2016.  The second member of the gang is a 1969 Ford Mustang Mach 1 dubbed Unkl. The exterior begs for attention with a deep blue sea paint job, deep front chin spoiler, bulging hood, yellow brake calipers, and what looks like a racing number inside a roundel on the doors. Unkl gets its motivation from a 520-cu-in Boss V8 built by Kaase Racing Engines, rumored to throw about 800 hp.    Finally, Ringbrothers is bringing its Cadillac Madam V for another Las Vegas go-round after giving the custom coupe some updates. The Madam V is a 1948 Cadillac Series 62 fastback coupe body placed atop an ATS-V chassis, first shown in 2016. The firm didn't elaborate on the changes, so all we can expect for now are the coupe's postwar good looks mixed with new-millennium engineering, and a 3.6-liter twin-turbo V6 with 464 hp under that exceptionally long hood.    For any in attendance at the show, the Valkyrja Camaro debuts at the BASF booth on Tuesday, Nov. 5, 2019 at 9:30 a.m., the Unkl Mustang gets revealed a couple hours later at the Flowmaster/Holley booth, and the Madam V Cadillac will be on display throughout the show at the Ringbrothers booth.