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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.

Chevy admits there's confusion over Bolt and Volt names

Offering the possibility of 200 miles of driving range and the potential for a price of about $30,000, the Chevrolet Bolt is an incredibly enticing vehicle, and it has an opportunity to be a big player in the EV world. However, the hatchback has been plagued by one problem since the moment it debuted – the name. Bolt sounds very similar to Volt, Chevy's extended-range plug-in, and they can be easy to confuse in a conversation. That's not the best quality to have when trying to get a new vehicle's name out there among customers, and General Motors North America president Alan Batey told the Detroit Free Press that the company is aware of the problem. While the EV is definitely going into production, the model might be wearing a different moniker when it hits showrooms. "We're still in the decision phase. It could go either way," Batey said to the Free Press. He indicated the automaker still has about a year before a final decision is necessary. The Bolt will be built at GM's Orion Assembly plant in Michigan and will likely go on sale around 2017. That will put the Chevy on the market at roughly the same time as the 200-mile Tesla Model 3. Batey didn't seem too concerned, though. "Unlike Tesla, we can spread the cost over a whole lineup," he said to the Free Press. The future doesn't look quite so bright for the Spark EV, though. Batey suggested that it might not last once the longer-range Bolt fills that niche in the lineup. Related Video:

Diesel details: Comparing Ram 1500 EcoDiesel, Chevy Silverado Duramax, Ford F-150 Powerstroke

With specifications for the 2019 Ford F-150 Power Stroke diesel already out, and the details on the 2020 Ram 1500 EcoDiesel and Chevy Silverado Duramax (and its GMC Sierra twin) trickling out, we felt it was a good time to start comparing the full-size trucks' light-duty diesels. Bear in mind, we've only driven one of these new diesel trucks, so we'll be sticking to numbers for now. Some numbers haven't been announced yet, either, but stay tuned, because we'll be updating this post with additional specifications as they become available. And if you want to compare any other versions of these trucks with other vehicles, be sure to check out our comparison tool. Now let's start comparing, starting with our big chart of numbers below. As we can plainly see, these trucks are quite closely matched. Each one has six cylinders, a displacement of 3.0 liters and a turbocharger to boost it. The output of each is somewhat close, too. The Ram 1500 EcoDiesel is the torque king at 480 pound-feet, 20 more than the GM trucks and 40 more than the Ford. The GM trucks win on power, though, with 277 ponies, 17 more than the Ram, and 27 more than the Ford. GM does report that you get their trucks' peak 460 pound-feet of torque from 1,500 rpm to 3,000 rpm, whereas the others only report peak torque at a particular point in the rev band, but all of these trucks should have wide, flat torque curves as you would expect from modern turbodiesels. 2020 Ram 1500 EcoDiesel View 8 Photos Engine output is only one part of the truck performance equation. We also have towing and payload capacity, as well as fuel economy. With towing, the Ram 1500 is the current leader with a maximum capacity of 12,560 pounds. That tops the Ford F-150's 11,400-pound tow rating by well over 1,000 pounds. The F-150 can carry 2,020 pounds in its bed, but we don't know yet whether that's better or worse than the Ram or the GM trucks. We also don't have numbers for the GM trucks' towing capacities. View 9 Photos As for fuel economy, the Ford F-150 manages a thoroughly impressive 22 mpg in the city and 30 on the highway with two-wheel drive. Choosing four-wheel drive drops those numbers to 20 and 25 respectively. The fuel economy numbers for the Ram, Chevy and GMC haven't been revealed yet, but for some comparison, we can look at the old Ram EcoDiesel. That truck's best fuel economy was 20 in the city and 27 on the highway with two-wheel drive.