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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.

2021 Ram TRX, BMW 5 Series and the end of the Alfa Romeo 4C | Autoblog Podcast #657

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski. They kick things off discussing the brand-new 2021 Ram 1500 TRX, discussing how it compares with its main rival, the Ford F-150 Raptor. They move on to the latest BMW 5 Series before a quick overview of the Buick Enclave. The podcast wraps up by saying goodbye to the Alfa Romeo 4C, which leaves the world after the 2020 model year. Autoblog Podcast #657 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 Rundown What we're driving2021 Ram 1500 TRX 2021 BMW 540i 2020 Buick Enclave Other news Goodbye, Alfa Romeo 4C Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

Buick Envision to go on sale in third quarter of 2015

Following an earlier concept and successive teasers, Buick revealed the new Envision crossover a little over a month ago. The thing is, it was launched in China, for China. The question, then, is whether it will make the jump to the North American market. And the answer is: quite possibly.
According to division sales chief Duncan Aldred in speaking to Edmunds, Buick is looking into the prospect of bringing the Envision to the US: "We can't confirm anything, but clearly it is a very nicely designed and executed product that is very much a Buick," said Aldred.
If and when the compact crossover would appear in US showrooms, it would slot in between the smaller Encore and the larger Enclave. It would likely be offered in front-wheel drive, all-wheel drive and mild hybrid configurations. Sources expect it to arrive in the third quarter of 2015 as a competitor to the likes of the Mercedes GLA, Lexus NX and Lincoln MKC.