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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.

2014 Cadillac XTS Vsport

Not long after bombing around the Milford Road Course in the new CTS Vsport, Cadillac invited me to try out its other new-for-2014 Vsport model: the XTS. And despite using the same twin-turbocharged 3.6-liter V6 from the CTS, the Vsport package takes on a whole new meaning here in Cadillac's softer flagship.
In the CTS, this trim perfectly bridges the gap between the standard models and the hardcore CTS-V, and is focused on being the best-driving version of the range without a standalone V badge. The XTS, however, has no proper V model, so the Vsport becomes the new range-topper for that line by default. But unlike the CTS Vsport, which uses rear-wheel-drive architecture and is focused on driving dynamics above all, the XTS is geared toward a much different customer.
The entire XTS experience is far more concerned with plush comfort than handling prowess, and while this Vsport model certainly ups the ante with more power and some mild suspension and steering tweaks, it's not exactly what we'd call a particularly engaging experience. But that doesn't mean it isn't good.

Cadillac electric crossover will be revealed in April

Cadillac will unveil a midsize electric crossover in April, brand President Steve Carlisle told dealers at the National Auto Dealer Association (NADA) Convention Monday. The new crossover will be Cadillac's first all-electric vehicle.  The New York Auto Show is April 10-19, with press days April 8-9. It's unclear whether the Cadillac reveal would happen there, or as a standalone event before or after. Per Automotive News, Carlisle told the assembled representatives that Cadillac has big plans for transitioning from an all internal-combustion lineup to one anchored in electric cars.  "We enter this decade as an internal combustion engine brand. We want to position ourselves to exit as a battery-electric brand, so we have to manage both at the same time," he said.  Early last year, Cadillac teased the new midsized crossover, telling us to expect it to come in two- and four-wheel-drive flavors and to be offered as a global model. The last we heard of GM's plans to electrify its luxury brand came in December, when Carlisle laid out an aggressive plan to switch over its entire lineup by 2030.  Just a week later, parent company GM canceled its plans to appear at CES earlier this year because the model it planned to showcase was not ready to be unveiled due to delays introduced by the UAW strike last fall.  Not even two weeks after the tech show concluded, GM introduced of the self-driving Cruise Origin at a private event in San Francisco, prompting speculation that it was the original subject of GM's CES plans. Whether the Cruise Origin or Cadillac's new mystery midsizer was to bow at CES, there's only one left to reveal now.  Cadillac has been keeping news of its future EV offerings largely on the back burner. The brand has been busy effectively re-launching its entire lineup — an effort that will culminate with the rollout of the new Escalade SUV later this year.  In Carlisle's NADA remarks, he indicated that Cadillac dealers will learn more about the company's plans at a meeting in September.    Green Cadillac GM Crossover Concept Cars Electric Future Vehicles Luxury