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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.

Chevrolet Bolt EV Concept foreshadows an affordable, 200-mile EV future [w/videos]

Confirming numerous reports and rumors, Chevrolet introduced the Bolt EV Concept, "a vision" of a 200-mile EV with an entry price of around $30,000. Those lofty promises ride atop a funky crossover that made its global debut at the 2015 Detroit Auto Show. The orange five door features a spacious greenhouse, complemented by a glass roof and thin D-pillar. A narrow grille and slim LED headlights crown a high fascia that leaves little ahead of its front axle. It's a similar story in back, as General Motors' design boss Ed Welburn sought to limit overhangs and maintain the Bolt's small footprint. "Form and function have never meshed so well together," Welburn said. "No compromises were made when it came to aesthetics and the elements that contribute to the Bolt EV concept's range, resulting in a unique proportion that's sleek, efficient and obviously a Chevrolet." The cabin is not unlike current Chevrolet compacts, with the MyLink touchscreen and a detached instrument cluster dominating the sparse dash. Unlike cars like the Sonic, which features a similar design for its instrument cluster, A Volt-like display is found over the steering column. "The Bolt EV concept is a game-changing electric vehicle designed for attainability, not exclusivity," CEO Mary Barra said. "Chevrolet believes electrification is a pillar of future transportation and needs to be affordable for a wider segment of customers." Take a look at both the official gallery of Bolt images, as well as our live shots. And then scroll on down for more comments from GM brass, in the official press release. Chevrolet Bolt EV Concept Signals Brand's EV Strategy Affordable, long-range concept builds on brand's electrification leadership 2015-01-12 DETROIT – Chevrolet today made a significant statement on its commitment to electrification with the introduction of the Bolt EV concept – a vision for an affordable, long-range all-electric vehicle designed to offer more than 200 miles of range starting around $30,000. "The Bolt EV concept is a game-changing electric vehicle designed for attainability, not exclusivity," said General Motors CEO Mary Barra. "Chevrolet believes electrification is a pillar of future transportation and needs to be affordable for a wider segment of customers." Leveraging the electrification prowess established by Volt and Spark EV, the Bolt EV concept is designed to offer long-range performance in all 50 states and many global markets.

Chevy to show redesigned Captiva in Geneva, will it come to US rental lots?

Unless you're renting a car or driving through Orlando, Florida (the rental car capital of the US), you'll probably never see a Chevrolet Captiva - the rebadged, fleet-only version of the old Saturn Vue - on our roads, but this crossover is popular in many other parts of the world. As such, Chevrolet announced that the Captiva will be getting an update for 2013, which will be unveiled next week at the Geneva Motor Show.
Coming off a pretty extensive refresh in 2011, the 2013 model year will bring even more changes to the Captiva like LED taillights, new 18-inch wheels and revised fascias with a new grille and fog lights up front and inset chrome exhaust outlets at the rear. New interior features include heated rear seats, dual-zone climate control as well as available options on some of the upper trim levels such as leather seating and keyless entry and start. We have yet to hear back from Chevrolet as to whether or not the updated Captiva will be making its way to a rental lot near you, as the model is only available in the US to fleet buyers.
Alongside the updated Captiva, Chevy is also showing off its new Trax in Europe, where the subcompact crossover will go on sale this spring. GM's press release for these two Geneva-bound models is posted below.