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Weekly Recap: The implications of strong new car sales

New car sales are on a roll in the United States this year, and analysts are optimistic the industry will maintain its torrid pace. Sales increased 1.6 percent in May and reached an eye-popping seasonally-adjusted selling rate of 17.8 million, the strongest pace since July 2005, according TrueCar research. That positions the industry for one of its strongest years ever, as consumer confidence, low interest rates, low fuel costs, and an influx of new products propel gains. In addition to the positive economic factors, May also featured warmer weather across much of the US, an extra weekend, and it came on the heels of relatively weak April sales. Analysts suggest income tax refunds and the promise of summer driving and vacations also traditionally help May sales. "While 2015 will be one of the best years in the history of the US industry, in some ways it may be the very best ever," IHS Automotive analyst Tom Libby wrote in a commentary. "Not only are new vehicle registration volumes approaching the record levels of the early 2000s, but now registrations and production capacity are much more closely aligned so the industry is much more healthy." Capacity, an indicator of the auto sector's health, is also expected to grow. Morgan Stanley predicts it will eventually hit at least 20 million units per year, as many companies, including General Motors, Ford, Tesla, and Volvo are investing in new or upgraded factories. "The best predictor of US auto sales is the growth in capacity, and frankly, we're losing count of all of the additions – there's literally something new and big every week," Morgan Stanley said in a research note. Transaction prices, another telling indicator, also continue to show strength. They rose four percent in May to $32,452 per vehicle, and incentives dropped $10 per vehicle to $2,661, TrueCar said. "New vehicle sector and segment preference indicates consumers are confident about the economy and their finances," TrueCar president John Krafcik said in a statement. Still, Morgan Stanley noted the robust sales did little to immediately impact automaker stock prices and suggested it might be a prime time to sell if sales reach the 18-million pace. "Perhaps the biggest reason may be that investors have seen this movie before," the firm wrote.

2023 Chevrolet Silverado HD reportedly getting mammoth torque

Chevrolet just gave the light-duty Silverado a significant round of updates. It hasn't detailed the changes it has in store for the heavy-duty model yet, but a recent report claims the truck will arrive with significant engine upgrades. Without citing sources, website TFL Truck reported that the current pickup's 6.6-liter Duramax turbodiesel V8 will return in the updated model. Its displacement won't increase, but its output will reportedly grow to 505 horsepower and a mammoth 1,085 pound-feet of torque. To put those figures into perspective, the 6.6-liter makes 445 horsepower and 910 pound-feet of twist in the 2022 Silverado HD; GMC's Sierra HD is available with it as well. Bumping the Duramax's output is a way to keep up with the competition. Arch nemesis Ford offers buyers who have extremely heavy things to tow 475 horsepower and 1,050 pound-feet of torque from a 6.7-liter turbodiesel V8. Over at Ram, the most powerful engine available in a heavy-duty truck posts numbers of 420 and 1,075, respectively. If the report is accurate, Chevrolet will enviably take the horsepower and the torque crowns in the segment. What remains to be seen is what effect the increases will have on the Silverado's towing capacity. As of writing, it's capable of towing up to 36,000 pounds (approximately 15 times the weight of a 2021 Mazda MX-5 Miata). Moving out of the engine bay, the 2023 Silverado HD will receive an updated exterior design that will again help differentiate it from the smaller, light-duty model. We're expecting the next round of updates will also bring new tech features, and it's reasonable to assume that the trim structure will evolve; Chevrolet might notably shift the HD in a more outdoorsy direction to satisfy a growing demand for off-road-focused trucks in the United States. None of this is official; Chevrolet is keeping its lips sealed about the updated Silverado HD. Full details will likely emerge in the coming months, and sales are tentatively scheduled to start in time for the 2023 model year.

2020 Chevy Trax and Buick Encore spied testing

We just recently saw a little crossover SUV from General Motors being tested, and we weren't positive what brand it belonged to. We narrowed it down to Chevy or GMC, but we're feeling more confident that it's a GMC now, since both the next generation Chevy Trax and Buick Encore subcompact crossover SUVs have been spied testing together. Of the two, the Chevy has the more radically different sheet metal. It ditches the somewhat frumpy, lumpy shape of the current Trax for a body inspired by the bigger Chevy Blazer. The roofline has sharp corners, and the hood is wide and flat. The front fascia, though obscured, shows the most connection to the bigger crossover. It has the same split headlight configuration, and it looks as though the grille takes up a sizable section of the fascia. View 7 Photos The Buick Encore on the other hand looks evolutionary in design. The body still has plenty of curves, and the distinctive, sharply rising window sill are all hallmarks of the current Encore design. The headlights and grille are similar, too, though the grille appears to be slightly updated to fit in with the Enclave and Regal. It's understandable that Buick might want to play it safe with the new Encore, since the model is Buick's best seller, selling about 23,000 units in the last quarter, nearly twice that of the next best performer, the Enclave. Since this is the first time we've seen these little crossovers, we expect it will still be a year or two before we get to see them fully revealed. They will probably continue to use small-displacement turbocharged four-cylinder engines with either front- or all-wheel drive. Related Video: