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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.

Woman thwarts car thieves by jumping on hood

When a pack of car thieves tried to steal a Milwaukee-area woman's car at a gas station, she didn't run for help. Oh no. She hulked out, jumped on the hood, and screamed her head off until the thief finally ran off. According to WISN, Melissa Smith was gassing up her white Subaru Outback at a BP station near Milwaukee's historic Third Ward on the afternoon of May 24. As she stood there pumping gas and minding her own business, a black Cadillac swung slowly around the front of the Subie and came to a stop just off the front left corner. As Smith turned her back to hang up the pump nozzle, a dude bailed out of the Caddy, crouched down, and snuck into the Outback's driver's seat. "I didn't see him till I saw him get into my car. Or someone was in my car, and had my, 'Oh, hell this isn't happening to me today' moment," Smith told WISN. As soon as she saw the thief in her car, Smith ran around the front then leaped on to the hood. She started yelling and pounding on the windshield as the thief tried to pull away from the pump, but he refused to stop. He tried a couple quick stops in an attempt to shake her off, but to no avail. "He looked at me, and he laughed at me, which really irritated me," Smith said. "He was laughing while I was on my car, and he was trying to throw me off, so zero remorse." Smith clung to the Subaru, shouting and pounding until the thief gave up. He abandoned ship, jumped back into the Caddy, and the group of thieves sped away. Unfortunately, when the thief bailed he left the Subie in gear with Smith still holding on for dear life. "Then I had to chase my car into the street and stop it before it hit somebody else," Smith said. Thankfully, Smith was unharmed in the incident, but the crooks got her purse, phone, wallet, and sunglasses. Milwaukee police are still looking for the suspects, who they say stole the black Caddy before trying to steal Smith's Subaru. Related Video: News Source: NBC News, WISN Auto News Weird Car News Cadillac Subaru Crossover Sedan carjacking milwaukee

What if the mid-engine Corvette is really a Cadillac?

Call me crazy, but I'm not convinced the mid-engine Corvette is the next Corvette. The rumor is strong, yes. And, contrary to some of the comments on our site, Car and Driver - leader of the mid-engine Corvette speculation brigade - has a pretty good record predicting future models. But it's another comment that got me thinking: or maybe it's a Cadillac. There is clearly something mid-engine going on at GM, and I think it makes sense for the car to be a Cadillac. First off, check out how sweet the 2002 Cadillac Cien concept car still looks in the photo above. Second, there are too many holes in the mid-engine Corvette theory. There are too many holes in the mid-engine Corvette theory. The C7 is relatively young in Corvette years, starting production almost three years ago as a 2014 model. Showing a 2019 model at the 2018 North American International Auto Show would kill sales of a strong-selling car before its time. Not to mention it would only mean a short run for the Grand Sport, which was the best-selling version of the previous generation. More stuff doesn't add up. Mid-engine cars are, in general, more expensive. Moving the Vette upmarket leaves a void that the Camaro does not fill. There's not much overlap between Camaro and Corvette customers. Corvette owners are older and enjoy features like a big trunk that holds golf clubs. Mid-engine means less trunk space and alienating a happy, loyal buyer. Also, more than 60 years of history. The Corvette is an icon along the likes of the Porsche 911 and Ford Mustang. I'm not sure the car-buying public wants a Corvette that abandons all previous conventions. And big changes bring uncertainty - I don't think GM would make such a risky bet. Chevrolet could build a mid-engine ZR1, you might say, and keep the other Corvettes front-engine. Yes they could, and it would cost a ton of money. And they still need to fund development of that front-engine car. I highly doubt the corporate accountants would go for that. But a Cadillac? Totally. Cadillac is in the middle of a brand repositioning. GM is throwing money at this effort. A mid-engine halo car is the just the splash the brand needs to shake off the ghosts of Fleetwoods past. And it's already in Cadillac President Johan De Nysschen's playbook. He was in charge of Audi's North America arm when the R8 came out. A Caddy sports car priced above $100,000 isn't that unreasonable when you can already price a CTS-V in that range.