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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.

Junkyard Gem: 1986 Chevrolet Sprint Plus

General Motors sold second- and third-generation Suzuki Cultuses with Geo or Chevrolet Metro badging in the United States from 1989 through 2001 model years, and we've all seen plenty of those cars on the street over the years. The first-generation Cultus was sold here as well, with Chevrolet Sprint badges, and I've found a rare example of the Sprint five-door hatchback in a Northern California car graveyard. The Chevy Sprint first appeared on the West Coast as a 1985 model, then became available everywhere in the United States for the 1986 through 1988 model years (in Canada, it was sold as the Pontiac Firefly). It was available here as a hatchback with three or five doors; for 1986 only, the five-door was badged as the Sprint Plus. Soon enough, The General would be selling many more Asian-built cars with Detroit badges here. Isuzu I-Marks were sold as Chevrolet/Geo Spectrums starting in the 1986 model year, while Daewoo provided the Pontiac LeMans two years later. Under the hood, a 1.0-liter three-cylinder rated at 48 horsepower. The five-door Sprint cost $5,580 in 1986, which was $200 more than the three-door (those prices would be $15,445 and $14,891 in 2023 dollars). I've documented seven discarded Sprints prior to this one (including an extremely rare Turbo Sprint), and all of them were three-doors; we can assume that price was the most important factor for Sprint buyers. Gasoline prices were crashing hard during the middle 1980s, but memories of gas lines and odd-even-day fuel rationing from 1979 remained strong. What cars competed with the '86 Sprint on sticker price? Well, there was no way to undercut the hilariously affordable (and terrible) Yugo GV, which cost $3,990. The much bigger (but still pretty bad) Hyundai Excel listed at $4,995, while Toyota would sell you a sturdy (but zero-fun) Tercel starting at $5,448. Even the wretched Chevy Chevette — yes, it was still available in 1986 — cost $5,645. The original buyer of this car was willing to shell out an extra $395 to get an automatic instead of the base five-speed manual. That's about $1,093 in today's money. This car must have been slow. By the end, the doors were held shut with duct tape, but it still stayed alive until age 37. 53 miles per gallon on the highway! It does everything. The camels of the highway.

2015 Chevy Colorado takes Motor Trend Truck of the Year calipers [w/videos]

The final winner of Motor Trend's prestigious Golden Calipers has been named, with the 2015 Chevrolet Colorado taking the title of 2015 Truck of the Year, likely shocking those who thought Ford's all-aluminum, next-generation F-150 would take the crown. But win the Colorado did, beating not only the new Ford, but two other brutish Blue Ovals in the F-450 and Transit. The midsize pickup also bested its brethren from General Motors, beating the heavy-duty Chevy Silverado 3500, GMC Sierra Denali 2500 and the GMC Canyon, the Colorado's fraternal twin. After an unprecedented two-year stint with the Golden Calipers, Ram sat this year's awards out. Most impressive about the Colorado's victory isn't that it simply beat the US market's other trucks, it did so with a unanimous vote. Praise from MT's editors focused on the trucklet's price, spacious interior, fit and finish and performance. Former Autoblog staffer Jonny Lieberman called the Colorado's steering the best he'd "ever experienced on any truck, full stop," in MT's awards article. "After days of testing, hundreds of miles on the road, and our most rigorous truck testing program to date, our editors unanimously selected the Chevy Colorado as our 2015 Truck of the Year," said MT boss Edward Loh. "Colorado is a smart, capable, and refreshingly honest truck that makes a strong value and efficiency statement. It's perfectly sized and suited for the needs of many of today's truck users." The Colorado joins the 2015 Volkswagen Golf and 2015 Honda CR-V among Motor Trend 2015 award winners. Scroll down for video commentary from General Motors CEO Mary Barra, Loh and a clip of the Golden Calipers being handed over. Also, check out GM's full press release on its big win. The video meant to be presented here is no longer available. Sorry for the inconvenience. The video meant to be presented here is no longer available. Sorry for the inconvenience. The video meant to be presented here is no longer available. Sorry for the inconvenience. MOTOR TREND Names Chevrolet Colorado 2015 Truck of the Year Midsize pickup outclasses competition in design, engineering, efficiency, safety and more 2014-12-03 EL SEGUNDO, Calif. – After its most comprehensive truck evaluation program in history, MOTOR TREND has selected the Chevy Colorado as its 2015 Truck of the Year®. MOTOR TREND's Truck of the Year program is only open to all-new or significantly updated trucks and vans for the upcoming model year.