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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.

Next-gen Cadillac Escalade spied with grille uncovered for the first time

The next generation of full-size GM SUVs is coming, and the Cadillac Escalade may the most anticipated reveal of them all. Lincoln has blown up the scene with its excellent Navigator, and Cadillac needs something revolutionary in response. Our latest set of spy photos show us what appears to be a camouflaged Escalade, but it’s missing some of the camo covering the grille. None of our previous Escalade spy photos have given us this detailed of a look at the grille before. The grille design looks like a blown-up version of the XT6 right now. ItÂ’s not the exact same pattern as we see on the Sport or Premium Luxury trims of that car, but the design looks like it comes from a similar mind. ThereÂ’s certainly no mistaking it for anything other than a Cadillac, as the Yukon and Tahoe likely wonÂ’t be sporting such gaudy front pieces — the jury is still out on a potential High Country trim, though. This particular tester looks like it was caught on GMÂ’s proving grounds, as the driver unsuccessfully tries to hide his face from the camera. Just like previous spy shots, these feature the same rectangular exhaust outlets and independent rear suspension down below. We still have no idea what the rest of the SUV is going to look like, but as GM is wont to do these days, a big grille is a certainty now. The camouflage conceals just how far it stretches from one side to the other, but weÂ’ll be interested to see how much of the design language is ripped from smaller SUVs like the XT6 and XT5. We have a feeling Cadillac plans on giving us something new and game-changing with the Escalade; we just donÂ’t know if the styling is up to the task yet.

Vintage photos: How presidential limos evolved from open convertibles to Biden's armored Cadillac

President Ronald Reagan waves from the back of his limousine in 1984.Ronald Reagan Library/Getty Images US presidents used to ride in unarmored convertibles with open roofs. After John F. Kennedy's assassination, presidential cars were customized with safety features. Today's presidential limousine is a 20,000-pound, $1.5 million Cadillac known as "The Beast." US presidents used to ride around in open convertibles. Today, President Joe Biden is driven in a 20,000-pound, $1.5 million armored Cadillac known as "The Beast." Take a look at how presidential limousines have changed through the years. Presidential cars replaced horses and carriages in the early 20th century. President William McKinley rides in an automobile in 1896.Photo12/Universal Images Group via Getty Images President William McKinley, who served from 1897 to 1901, was the first US president to ride in a car, according to the National Archives. The administration of President Theodore Roosevelt, who succeeded McKinley after his 1901 assassination, was the first to include a government-owned car. In 1941, President Franklin D. Roosevelt became the first president to ride in an armored vehicle — a limousine that previously belonged to gangster Al Capone. President Franklin D. Roosevelt rides in a car with bulletproof glass in 1942.Bettmann/Contributor/Getty Images Roosevelt previously drove around in a 1936 Packard Touring Limousine. Then, in 1941, he upgraded to an automobile with bulletproof glass that the Treasury Department had seized from Capone in 1932, according to the US Secret Service. President Dwight Eisenhower's presidential limousine was a 1955 Chrysler Crown Imperial. President Dwight Eisenhower waves to cheering crowds in 1955.Bettmann/Contributor/Getty Images The car featured a 250-horsepower V8 engine and a sunroof, according to the US Secret Service. President John F. Kennedy's assassination in the back of a 1961 Lincoln Continental changed presidential cars forever. President John F. Kennedy, and first lady Jacqueline Kennedy ride through Dallas in 1963. Minutes later, Kennedy was assassinated as his car passed through Dealey Plaza.Bettmann/Contributor/Getty Images Kennedy's limousine included a hydraulic seat that could be raised 10.5 inches for a better view of the president, but no protective features. After Kennedy's assassination, presidential cars were customized to prioritize the safety of the commander-in-chief with thick layers of armor.