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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.

GMC Sierra EV Denali Edition 1 teased before tonight's debut

GMC says its Sierra EV Denali Edition 1 battery-electric pickup is "Built to tower above everything you thought an electric truck could be. That’s why itÂ’s the only EV that deserves the name Denali." We will know what the marketing speak means tomorrow (Thursday), when GM's third electric pickup in a year debuts at 5 p.m. Eastern. GMC teased the face of the Ultium-powered Sierra Denali nearly a year ago with an animated rendering. This second teaser on the eve of the debut gives us a better feel for what to expect. The front fascia advertises the product with illuminated GMC lettering at the center of a grille panel defined by an illuminated border. Upside down L-shaped LED lights frame three LED charging status bars. Below those at the bumper edges are what look like four fog lights, two round units above two squared oval units. In back, a glimpse of taillight reminds one of the Hummer EV's spendy rear lights, a Denali badge informing tailgaters what kind of truck they're following. A panoramic glass panel takes up just about the entire roof, save for some sheetmetal at the back where the shark fin antenna rests. Under that roof, one of the seating options will be a ventilated, quilted fabric with "Denali" embroidered in the headrest.  All the other intel must wait another 24 hours. This truck's Chevrolet Silverado EV sibling has been pitched as pricing between $40,000 and $105,000. We've been told the Sierra EV will only come in Denali trim, so expect the feature set and pricing to align more with the Hummer EV, from close to $100,000 once all trims are rolled out to sums well over $100,000. The furnishings could set a new benchmark in glitz for GMC, brand VP Duncan Aldred saying, "We now have an opportunity to evolve SierraÂ’s capabilities and technologies, as afforded by transitioning to an all-electric propulsion while also elevating the luxurious design and comfort associated with Denali." The playbook established so far leads us to believe the Ultium platform will provide a 200-kWh battery and an estimated range of 400 miles, and an output of something like the 664 horsepower and 780 pound-feet of torque in the top Silverado EV trim. Or this limited Edition 1 trim could split the power gap between the Silverado EV and the 1,000-hp Hummer EV.  Reservations open after the debut.

GM tells owners not to use SUV wipers due to fire risk

General Motors is recalling 31,685 examples of the 2016 Buick Enclave, Chevrolet Traverse, and GMC Acadia because a short circuit in the windshield wiper motor can potentially lead to a fire. Due to the danger, the company is asking owners not to use the wipers until the problem is fixed, according to The Detroit Free Press citing the Associated Press. A manufacturing defect in the wiper motor cover means that the electrical terminals can come into contact and cause a short. The part could "melt, smoke, or catch fire," according to a statement from GM. The company will get them fixed immediately, and dealers will replace the cover. If there's bad weather at the time the owner specifies to get the recall work completed, the automaker will come pick up the crossovers. Depending on parts availability, the automaker will supply a rental car for customers, as well. The issue was discovered at the factory. According to the company's statement, only 6,405 actually made it to customers, and they were notified immediately by overnight letter. The rest were in dealer stock. The affected crossovers carry build dates between August 18, 2015 and September 24, 2015. Of those, there are 29,295 in the US and 1,073 in Canada. GM Statement: General Motors has told the National Highway Traffic Safety Administration that it will recall approximately 29,295 2016 model year Chevrolet Traverse, Buick Enclave and GMC Acadia SUVs in the U.S. because the front windshield wiper motor may overheat when in use because of a manufacturing defect. In some cases, the front windshield wiper motor cover may melt, smoke or catch fire. The approximately 6,405 customers who have taken delivery of these vehicles were notified by overnight letter and are urged to contact a GM dealer as soon as possible to arrange a service appointment. These customers should not use the front windshield wipers until they have been repaired. If weather conditions prevent driving the vehicle without using the windshield wipers, GM will arrange to pick up the vehicle for servicing. If repair parts are unavailable, GM will provide a rental car at no cost until parts become available. The total population, including Canada, Mexico and exports, is approximately 31,685. About 25,280 of these vehicles are in dealer stock and will not be sold until repairs are made.