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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.

The syrupy sweet tale of the Pink Cadillac Margarita

In our last installment of the irregular and irreverent series on drinks loosely connected to – or named after – automobiles, we sipped a Taxi cocktail, which in its original form tasted a bit like a margarita infused with Blackjack chewing gum , except worse. This time, we explore mythos behind a drink so pink it usually doesn't make you stop and think. But that's what we're going to do. And, as always, enjoy cocktails (and reading about them) while you're not behind the wheel. Our brother lives in Detroit, where old American cars go to not die. On the streets of the Motor City, you will see all manner of holey-mufflered, salt-rotted, spring-sagging Big Three iron plowing along shoddily. Our brother's next-door neighbor is a connoisseur of such vehicles, and thus populates his driveway with a cache of Malaise Era Cadillacs. (His dog lives in one.) His latest addition, which our brother texted us a photo of recently while we were eating fish tacos in Los Angeles, is a Desert Rose 1977 Coupe DeVille (seen below). Since we're always thinking about cars or drinking (or both), and we were eating Mexican, this put us in mind of a cocktail our cousin's trashy bridesmaid made us try at her wedding in Charleston: the Pink Cadillac Margarita. Suddenly, we were thirsty. The Pink Cadillac Margarita is, quite obviously, a pink drink – a somewhat cloying, if deliciously chuggable concoction colored with a spritz of Ocean Spray, or Chambord liqueur if you're classy. Pink drinks get a bum rap. Blame it on the Cosmopolitan, and everyday misogyny, but many people find pink drinks frivolous. As expert drinkers, and drink experts, we would counter that the consumption of alcohol is, at its essence, about being frivolous. Never mind that the chemical is a depressive; Consuming it is about putting on your rose (or rose) colored glasses, and getting ready to make some mistakes. The Pink Cadillac is apparently so named not just because of its signature color and the irresistible musical connection between Cadillacs and pinkness (see: Aretha, Springstein, Natalie Cole). The moniker also derives from the quality of the ingredients – drawing on the historical expression "The Cadillac of..." to signify something top-shelf. "It's difficult to know quite how that name was derived," says Melody Lee, Cadillac's director of brand strategy.

Hear the new Cadillac CTS-V torture some tires

The 2016 Cadillac CTS-V seems like the type of wonderful gift that Santa might cook up in his workshop for one extraordinarily good boy or girl. However, the first chance for most people to actually see the super sedan and its carbon fiber pieces in real life is at the 2015 Detroit Auto Show in January. As a stocking stuffer until then, Caddy has released this video highlighting the latest V-Series roasting its tires better than any dinner for the holidays. With the supercharged 6.2-liter V8 from the Chevrolet Corvette Z06 nestled into the CTS-V's engine bay, the Cadillac certainly has quite a bark coming from its exhaust. The mill might be detuned slightly from the 'Vette to 640 horsepower and 630 pound-feet of torque, but that's still plenty for this smoky application. Enjoy this tease of the future V-Series, ahead of the Detroit show. Related Gallery 2016 Cadillac CTS-V View 15 Photos News Source: Cadillac via YouTubeImage Credit: Related images copyright Cadillac Cadillac GM Luxury Performance Videos Sedan