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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.

GM is training more first responders for EV emergencies in the U.S. and Canada

GM is training more first responders to be able to handle emergencies involving electric vehicles. The automaker is "significantly expanding" its EV First Responder Training program in the United States and Canada as electric vehicle sales continue to grow. Its initiative will primarily focus on training firefighters and equipping them with the necessary knowledge about full electric vehicle technologies. GM says it's hoping to dispel misconceptions when it comes to handling EVs in emergency situations. One of those misconceptions is that water is dangerous around EV batteries — turns out the recommended way to put out lithium-ion battery fires is by using copious amounts of water.  Andrew Klock, a senior manager of education and development at the National Fire Protection Association (NFPA), said: "The best way for the public and private vehicle fleet owners to rapidly adopt EVs is to train firefighters and emergency responders on how to handle incidents involving battery powered vehicles. The fire service has had more than 100 years to gain the knowledge needed to respond to internal combustion engine fires, and it is critical that they are now educated on EV safety." The NFPA held trainings of its own that had benefited 300,000 first responders, but it believes more than 800,000 members of the community still need further training.   GM previously piloted the program in southeast Michigan, but now it's conducting training events across Michigan and in Fort Worth, Texas, as well. Later this summer, it's bringing the program to metro New York City and Southern California. Participants will have to attend four-hour sessions, with up to two per day, held in various venues, such as fire houses and dealerships. Interested first and second responders can register through the program's dedicated website and earn a certificate from the Illinois Fire Service Institute if they score higher than 70 percent on the learning assessment by the end of their training.  The automaker already has a few EV models on the market, including the Chevy Bolts, the GMC Hummer EV and the Cadillac Lyriq. It has huge electrification plans for the future, though, and training responders could help make potential customers more receptive to the idea of switching to electric vehicles. GM aims to launch 30 EV models by 2025 and to exclusively sell EVs ten years after that. Related video: Green Cadillac Chevrolet GM GMC Safety Electric

Motor Trend reveals 2016 Chevy Camaro as Car of the Year

The 2016 Chevrolet Camaro beat some very steep competition to earn the Golden Calipers as Motor Trend's Car of the Year. The magazine praised the sixth generation's fantastic engines, great handling, and lighter platform. "Our 2016 Car of the Year, the Chevrolet Camaro, is one of the finest driving vehicles in the world at any price," editor-in-chief Edward Loh said, "though its price is well within reach of the average consumer." The Camaro conquered some high-performance challengers to take the victory, including the Audi TT, Mazda MX-5 Miata, and Mercedes AMG GT S. It also bested technologically cutting-edge vehicles like the BMW 7 Series and Toyota Mirai. The latest Honda Civic rounded out the competition. To earn the prestigious award, nine judges evaluated the finalists in six categories: advancement in design, engineering excellence, safety, efficiency, value, and performance of intended function. The Volkswagen Golf won last year. In an engaging story on Motor Trend's website, it explains what a revelation the new coupe is and that they consider the model the best production pony car ever. The piece is well worth a read. Motor Trend also handed out the Person of the Year honor to Subaru of America President and Chief Operating Officer Thomas Doll. It praised him for the Japanese brand's massive success in the US like tripling deliveries since 2007. "By any measure, the business Tom Doll leads is an outstanding success," editor-at-large Angus MacKenzie said. "And he is the person whose unique vision and quiet leadership made it happen." Related Video: MOTOR TREND Announces 2016 "Of The Year" Winners Car of the Year, Truck of the Year, SUV of the Year, and Person of the Year announced during live ceremony and webcast in Los Angeles LOS ANGELES, Nov. 16, 2015 /PRNewswire/ -- Today, for the first time in the brand's 66-year history, MOTOR TREND announced winners of the Golden Calipers for Car of the Year, Truck of the Year, SUV of the Year, and Person of the Year at a red-carpet gala in front of an audience of industry insiders and celebrity guests. The awards show was also streamed live on the MOTOR TREND Channel on YouTube, with 3.5 million subscribers the world's largest automotive video channel, and on MOTOR TREND OnDemand, the brand's new subscription video on demand (SVOD) channel. A replay of the event broadcast is available for free at motortrendondemand.com. "What an amazing evening!