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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.

Seventies super-salesman challenges new car-sales record

Some of the fondest memories from my youth were the Sunday afternoons spent walking between rows of new and used cars. This preceded the advent of widely available internet, so the cars didn't sell themselves online: A tentative buyer had to come see the cars in the metal, with old-school salesmen taking well-earned smoke breaks after putting someone behind the wheel of a new Saab 900. All-inclusive subscription services were unheard of. If you open a Guinness records book and look up car salesmen, you'll find Joe Girard. The definitely old-school Detroit salesman regularly sold over 1,000 new cars per year, with a particular high point of 1,425 cars in 1973 guaranteeing him a mention in the Guinness book. To reach that kind of sales figure, you had to be a pretty special salesman, and Girard was. He didn't take breaks unless absolutely necessary, and even his lunch hours were dedicated to selling more cars instead of shooting the breeze with other sales persons. By 1977 he was worn through, having sold over 13,000 cars in his career, and his physique couldn't take it anymore. He's been a motivational speaker since. Now, 44 years later, a Dearborn, Mich., Cadillac and Chevrolet salesman named Ali Reda has reportedly broken Girard's record. The books at Les Stanford Chevrolet Cadillac say Reda sold 1,530 new cars and 52 used cars in 2017, averaging 130 vehicles per month. But after Girard, 89, heard of the sales record, he called his attorney, not letting his record be broken without a fight — or at least an audit. The Dearborn dealer isn't too concerned about Girard's doubts, at least according to Gary Stanford, whose father founded the dealership. "It's very official, trust me," said Stanford to the Detroit Free Press. "Ali is the hardest worker I've ever seen. And if someone doesn't believe the data, well, they're more than welcome to consult with GM. It's all there in black and white." What Girard doesn't get is that Reda was honoring him with the accomplishment. "I read his book, 'How to Sell Anything to Anybody,' and it said it would teach you how to become the best," said Reda, who at age 44 was a newborn when Girard hit his peak. "He's an absolute legend in the industry. Your whole career, you're chasing his name.

Cadillac prepares to top its own 'Ring record with upcoming new CTS-V

It was a big deal back in 2008 when the original Cadillac CTS-V clocked a lap time of 7:59 at the Nürburgring, making it the fastest sedan ever to lap the Nordschleife to that date. Not many four-doors have bested that time since - the list consisting pretty much only of the Porsche Panamera Turbo - but now hot hatches are lapping faster than that, so you can bet that the new one will manage an even better time.
Now we've spotted the upcoming new CTS-based performance sedan several times before undergoing testing in locations around the world, but this is the first time we've seen it at the Nürburgring, apparently using the Goodyear Dunlop test facility as its base of operations (and still wearing Michigan manufacturer plates, incidentally). Considering how well the outgoing CTS-V performed and how much further you can bet Cadillac will push the envelop this time around, a new sedan lap record is almost a certainty - and we can only hope for an all-out war between Europe's performance sedan power houses to ensue.