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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.

GM recalls 55,000 trucks, SUVs for separating axles, fuel pump failures

General Motors issued four separate recalls covering eight of its truck and SUV models for issues related to fuel pump and half-shaft failure. In total, the four campaigns include more than 55,000 vehicles spread out over three brands and six model years, but they've sorted themselves neatly into two categories. Let's dive in.  Axle separation Four models are being recalled for potential axle separation: The 2023 Cadillac XT5, 2023 GMC Acadia, 2023 Chevy Blazer and 2023 Chevy Traverse. The number of units affected is incredibly small (10 units each times two recalls, for a total potential population of just 20 cars). In each case, a small number left the factory with half-shaft assemblies that may have been missing the retention rings that keep them in place, possibly allowing the axles to separate or eject from the transmission. In the case of the XT5 and Acadia, it's the right-side axle assembly; Chevy dealers, however, will have to check the left side.  Fuel pump failure Again, we have multiple vehicles being recalled for similar issues, but in this case they're a bit more distinct. The first of these recalls covers the 2021-2022 Chevy Equinox and 2022 GMC Terrain. GM says a supplier-initiated change may have led to fuel pumps shipping with inadequate clearances to allow for the prescribed flow of fuel, meaning the pump could starve the engine. Customers experiencing the issue may see a check engine light and experience engine hesitation. In some cases, the cars may not start at all. Chevy and GMC will replace the units in question with correctly specified pumps.  The second recall covers a fairly specific cross-section of GM's HD truck lines. 2017-2019 Silverado and Sierra HD trucks sold with the diesel engine and a dual-tank configuration may have shipped with a rear fuel pump that is susceptible to fouling by debris, preventing fuel from properly transferring to the front tank, or, in extreme cases, resulting in a collapse of the rear tank. This issue can lead to inaccurate/erratic fuel tank readings, engine hesitation, a check-engine light or failure to start.  In both cases, GM will inspect and replace faulty units free of charge for customers. Expect notifications to be delivered by March.  Related video: Recalls Cadillac Chevrolet GMC Ownership Safety Truck SUV

2015 GMC Yukon erupts into flames during Anaheim test drive [w/video]

A 2015 GMC Yukon burst into flames while on a test drive in Anaheim, CA on Sunday after smoke filled the cabin. Residents of the neighborhood where the driver abandoned the redesigned Yukon reported hearing a series of small explosions (likely the tires, based on the video), according to a report from KTLA and The Los Angeles Times.
No one was injured in the incident, which The Times reports occurred after a possible oil or fluid leak. As you can see in the image above, the Yukon was engulfed in flames, although the Anaheim Fire Department was able to put out the blaze in about 15 minutes.
"We're very lucky that no one got hurt, and it was in an area that... was safe," Lt. Tim Schmidt of the Anaheim Police Department told KTLA reporters. "If there was any place that was going to be safe, it would be this area. It's very open. It worked out for us."