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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.

2022 Jeep Grand Wagoneer, Nissan Frontier and a little Z06 preview | Autoblog Podcast #698

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. This week they talk about cars they've been driving including the 2022 Jeep Grand Wagoneer, 2022 Nissan Frontier, 2021 Jaguar XF P300 and the 2022 Mini JCW Convertible. They also discuss the photo reveal of the 2023 Chevrolet Corvette Z06. They cap things off by helping someone spend their money on a new car. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #698 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving:2022 Jeep Grand Wagoneer 2022 Nissan Frontier 2021 Jaguar XF 2022 Mini JCW Convertible News 2023 Chevrolet Corvette Z06 preview Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: 2022 Jeep Grand Wagoneer Interior Review | Autoblog Short Cuts

Chevy shows much-improved 2014 Corvette interior in new video

If you want a closer look at what went into designing and building the interior for the 2014 Chevrolet Corvette, we've got just the thing. General Motors has released a new video detailing the cabin's evolution from conception to execution, complete with commentary from Ryan Vaughn, performance car interior design manager with Chevrolet. The quick clip details how manufacturing, engineering and design within General Motors worked together from the first sketches to ensure no compromises had to be made later down the line. How novel.
With plenty of hides traced with contrast stitching and available real carbon fiber trim, the cabin looks to be a few hundred miles ahead of the C6. Given how readily critics derided the previous generation for its cabin, the C7 should make writers work a little harder to find something to complain about. Check out the video below for yourself.