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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.

2019 Hyundai Kona Electric First Drive Review | No compromises

The results of last week's United Nations climate study reveal that Earth's climate situation is much more dire than previously thought. Unless we do something drastic to stop pumping carbon emissions into our atmosphere, we'll do irreversible damage by 2030. It seems almost prophetic, then, that Hyundai is launching two vehicles — the hydrogen-powered Nexo FCV and an all-electric variant of the recently launched Kona crossover. The more compelling of the two is the Hyundai Kona Electric. It joins other purely battery-powered machines such as the Nissan Leaf, the Chevy Bolt and the Tesla Model 3, but the Korean automaker one-ups the competition by arriving in the form of a crossover. Americans can't get enough of them, and no other pure electric on the market offers it unless you're talking about the $83,000 Tesla Model X. The Kona EV's next closest competitor is the boxy electric Soul, and in case you didn't know, Kia's affiliate company is none other than Hyundai. In truth, the crossover moniker isn't entirely accurate. Like its internal-combustion-engined counterpart, the Kona EV doesn't really sit above regular car height. Rather than call it a compact crossover, it'd be more appropriate to label it a hatchback with some rugged-looking body cladding. The Kona Electric does, however, top nearly all of its EV rivals for cargo space, with 19.2 cubic feet. Only the Leaf tops it at 23.6 cubic feet, but the Kona's footprint is almost a foot shorter than the Nissan's. Visually, the Kona Electric is distinguished from its petrol-powered sibling by a grille-less face, replaced by an LCD readout grid pattern with the charging port neatly hidden beneath a panel on the left side. A new light bar spans the prow, connecting the upper driving lights in a digital wave pattern repeated in the lower front, side and rear skirts. It's meant to evoke the pathways in a circuit board, according to senior chief designer Chris Chapman. Inside, more differences serve to remind you that you're sitting not just at the helm of a crossover, but a shuttle to the future. An array of PRND buttons and an electronic parking brake await your instructions. Neither seemed necessary nor an improvement over the Kona classic's tried-and-true gear selector and handbrake, but there they were. The e-e-brake perhaps does permit the double-decker center console, though, the lower level meant for gadget recharging, whether via USB or Qi wireless.

What's big at the Chicago show | Autoblog Podcast #503

On this week's podcast, Mike Austin and David Gluckman discuss the big debuts at the 2017 Chicago Auto Show. They also recap what they've all been driving lately, and the episode wraps up with Spend My Money buying advice to help you, our dear listeners. And there's an awful Dad Joke thrown in there for you to find. The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want buying advice of your very own, send a message or a voice memo to podcast at autoblog dot com. (If you record audio of a question with your phone and get it to us, you could hear your very own voice on the podcast. Neat, right?) And if you have other questions or comments, please send those too. Autoblog Podcast #503 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics and stories we mention Jaguar XE Volkswagen Golf R Toyota Highlander Hybrid Chicago Auto Show coverage Used cars! Rundown Intro - 00:00 What we're driving - 01:46 Chicago show preview - 22:58 Spend My Money - 35:36 Total Duration: 52:48 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show on iTunes Podcasts Chicago Auto Show Chevrolet Dodge Jaguar Toyota Volkswagen Truck Hatchback SUV Performance Sedan ford expedition jaguar xe volkswagen golf r 2017 Chicago Auto Show