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Survey says $25k barrier is a problem for EVs

The majority of consumers are more or less priced out of the market.
Electric cars are gaining popularity with the general public, but are they still too expensive? According to a survey 1,084 consumers by Navigant Research, a consulting firm located in Boulder, CO, 71 percent want their next car to cost under $25,000, while 41 percent won't go a cent above $20K. Looks like people are even thriftier than we'd originally thought.

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 delays 3.0-liter Duramax diesel in Silverado and Sierra pickups

Stricter testing protocols around the world are making it harder for automakers to predict launch timelines. GM is the latest to get caught in emissions nettles, the Detroit carmaker forced to delay the launch of its new Duramax 3.0-liter inline-six diesel for the Chevrolet Silverado 1500 and GMC Sierra 1500. That's what company reps told dealers in a memo seen by Automotive News this week. Dealers and buyers had been promised the Flint, Mich.-built oil-burner in early 2019, but AN wrote that the EPA certification hiccup has turned into a "slight delay." A GM spokesman told Motor1, "[We] did not attribute [the delay] to a single entity, as the truth is this is a collaborative effort between GM and several government entities. We will make the 2020MY Duramax available for dealers orders soon, and expect to deliver the first trucks to customers soon after emissions testing is complete." We know the new 3.0-liter Duramax diesel has 277 horsepower and 460 pound-feet of torque, outdoing Ford's 3.0-liter PowerStroke diesel by 27 hp and 20 lb-ft. But without final EPA paperwork, GM can't release the numbers that will show how the two engines stack up when considering fuel economy and tow ratings. The certification process has been sticky for a few other makers of late, especially since the Volkswagen Group situation in 2015. BMW had to delay the launch of four diesel models in 2016 over EPA testing. The new Ram 1500 dribbled out in a trickle last year for reasons thought to deal with EPA testing, coming as it did a year after the EPA investigated Ram's EcoDiesel engines in 2017 and 2018. More recently, WLTP testing in Europe caught out just about every automaker over there. Since we're almost halfway through 2019, the delay until the 2020 model year is only a few months. Still, GM told dealers to cancel any orders for the engine for this model year. Dealers will need to resubmit the orders once opening begins, but GM hasn't said when production will begin other than "soon." The company said that it will offer 2020-model-year replacement vehicles to customers and dealers. If prices hold into the next model year, the 2020 Silverado 1500 and Sierra 1500 with the inline-six diesel will come at a $3,890 premium over the 2.7-liter turbo four-cylinder, and a $2,495 premium over the 5.3-liter V8.