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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.

Top Gear names BMW i8 Car of the Year, Corvette, Ferrari, Mercedes also win big

The lads at Top Gear have released their listing of the finest cars of the past year, handing the ultimate honor to BMW's revolutionary i8 plug-in-hybrid supercar. "The i8 is a milestone in the annals of automotive history and a glorious statement for an exciting and positive future. The i8 delivers - and then some," the British mag wrote. The i8, though, was far from the only hybridized car to take victories. James May and Richard Hammond both highlighted hybrids as their personal cars of the year, with May saluting the Ferrari LaFerrari and the Hamster, unsurprisingly, heaping praise on the Porsche 918 Spyder. Jeremy Clarkson, meanwhile, opted to shock many by selecting not only an American car as his best of 2014, but giving the honor to of all things, a Corvette. Clarkson wasn't the only person to honor the USA's iconic sports car, with the new, 650-horsepower Z06 variant being named TG's Muscle Car of the Year. Other big winners include Mercedes-Benz, which TG honored for S-Class Coupe (Luxury Car of the Year), the new AMG GT (Sports Car of the Year) and the not-for-US C-Class Estate (Family Car of the Year). The 458 Italia Speciale A snagged a second win for Ferrari. The best of the rest include the Citroen C4 Cactus, Renault Twingo, Volkswagen Golf R, Lamborghini Huracan and Audi TT. Take a look below for the celebratory press blast from BMW. The BMW i8 wins Top Gear Car of the Year The BMW i8 has been named as Top Gear magazine's global Car of the Year 2014. The plug-in hybrid performance vehicle beat off some stiff competition from a host of other premium and luxury manufacturers to win the overall award. The editorial team of Top Gear commended the BMW i8 for its breadth of abilities. Its 1.5-litre three-cylinder turbocharged petrol engine combined with an electric motor gives searing acceleration and driver enjoyment but all wrapped in a package that takes BMW's EfficientDynamics philosophy to the extreme courtesy of CO2 emissions less than 49g/km and a 135mpg combined cycle figure. Charlie Turner, Editor in Chief at Top Gear magazine, said: "The BMW is a milestone in the annals of automotive history and a glorious statement for an exciting and positive future. The i8 delivers – and then some. It's the kind of car we should celebrate, a beautiful vision of the future, delivered now.

2022 Chevrolet Silverado LT Trail Boss adds 3.0-liter diesel option

Order books just opened for the 2022 Chevrolet Silverado, which, in case you hadn't heard, is almost unchanged compared to the 2021 Silverado. The overhauled Silverado and GMC Sierra that we caught in spy shots several times last year and were expected to launch this year have been delayed. Until that pickup gets here, Chevrolet and GMC will add "Limited" to the names of the Silverado and Sierra. Fleet guides for next year's truck show the official model name as Chevrolet Silverado 1500 LTD. There are a few interesting features coming next year, though, like the Multi-Flex tailgate joining the options list for Silverado HD trucks. GM Authority also reports that the 2022 Silverado LT Trail Boss adds the 3.0-liter oil-burner with 277 horsepower and 460 pound-feet of torque as a third engine option, which should be a big treat for the off-roading crew. Whereas the GMC Sierra AT4 already offers the 3.0-liter diesel, the Silverado LT Trail Boss only offers the 5.3-liter and 6.2-liter V8s, both bolted to GM's ten-speed automatic transmission. Then there's the Custom Trail Boss that adds the 4.3-liter V6 as an option, and it and the 5.3-liter V8 only get 6-speed automatics. At the moment, Silverado trims that offer the Duramax charge a $1,045 for it over the 5.3-liter V8. If that gap holds true for next year, the diesel will just about evenly split the price difference between the LT Trail Boss with the 5.3 and the 6.2.   Elsewhere in the range, Driving.ca said Canadian fleet guides show the 4.3-liter V6 and lower-spec 5.3-liter V8 with Active Fuel Management (AFM) instead of Dynamic Fuel Management (DFM) disappearing from next year's base Silverado WT. To clarify, AFM only shuts off half the cylinders in certain conditions, whereas DFM constantly adjusts how many cylinders are firing all the time. As it stands, that would leave the 2.7-liter turbo four-cylinder as the only engine option. However, those other two mills were the only ones left in the lineup that shift through a six-speed transmission, making it possible that they'll rejoin the options list with at least two more gears to choose from. It's not clear if GM will sell the Limited models alongside the majorly upgraded 2022 Silverado. The automaker did just that a few years ago, selling the previous-gen truck as a Limited trim alongside the then-new, current-gen. It certainly wouldn't be the only company to do so, either.