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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.

GM recalling 8.4M cars, 8.2M related to ignition problems

General Motors today announced a truly massive recall covering some 8.4 million vehicles in North America. Most significantly, 8.2 million examples of the affected vehicles are being called back due to "unintended ignition key rotation," though GM spokesperson Alan Adler tells Autoblog that this issue is not like the infamous Chevy Cobalt ignition switch fiasco.
For the sake of perspective, translated to US population, this total recall figure would equal a car for each resident of New Hampshire, Rhode Island, Montana, Delaware, South Dakota, Alaska, North Dakota, the District of Columbia, Vermont and Wyoming. Combined. Here's how it all breaks down:
7,610,862 vehicles in North America being recalled for unintended ignition key rotation. 6,805,679 are in the United States.

Compact SUV Comparison: Specs, pics and reviews of every brand's crossover

Honda CR-V vs Toyota RAV4. Chevy Equinox vs Ford Escape. Mazda CX-5 vs Subaru Forester. Whichever combinations of compact crossover SUV you're considering, there's probably a comparison test or chart out there to read. Heck, you can even create a three-car comparison yourself here at Autoblog. However, if you want a bunch of that information all in one convenient place, well, here it is. Our mega comparison of specs, features and photos of compact SUV entries from every mainstream manufacturer that sells them. That includes the 2018 Chevrolet Equinox, 2018 Ford Escape, 2018 GMC Terrain, 2018 Honda CR-V, 2018 Hyundai Tucson, 2019 Jeep Cherokee (it's already on sale with notable changes from 2018), 2018 Jeep Compass, 2018 Kia Sportage, 2018 Mazda CX-5, 2018 Mitsubishi Eclipse Cross (none of Mitsu's SUVs are perfect fits for this segment, so we deemed the MEC the most competitive fit), 2018 Nissan Rogue, 2018 Subaru Forester, 2018 Toyota RAV4 and 2018 Volkswagen Tiguan. We can update this comparison as more information about 2019 models is released, most notably the Forester and RAV4. Now, there are certainly some models that are smaller (Nissan Rogue Sport) or larger (Kia Sorento) that could also be considered, but we figured it was wise to stick with those in this sweet spot of comparable size and price. We also included links to Autoblog reviews, buying guides and smaller comparisons. Engines and Transmissions With rare exception, this segment features four-cylinder power. Sometimes it's turbocharged, often its not, but standard engine outputs are generally in the same ballpark. Therefore, we'd recommend focusing on torque output, as it's what will make a difference around town or when passing, and weighing that versus fuel economy (the Chevy Equinox, GMC Terrain, Honda CR-V and Mazda CX-5 make particularly strong cases in this regard). Many drivers aren't too fond of continuously variable transmissions (CVT), either, so that's another thing to consider and note during a test drive. As you can see, several models are available with performance upgrades. Besides the Jeep Cherokee's available V6, all are more powerful turbocharged four-cylinder engines. The exception to this would be the Honda CR-V and Ford Escape, as their 1.5-liter turbo engines don't prioritize performance. Instead, they serve as overall upgrades to the base naturally aspirated engines standard on only their base trim levels (CR-V LX and Escape S).