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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 veteran Bryan Nesbitt tapped to head Buick design

General Motors styling veteran Bryan Nesbitt (pictured above) took over a new role on Monday as executive director of global Buick design and global architectures. Andrew Smith, who previously did that job and also coordinated the look for Cadillac, has remained in charge of the pen at Caddy with this shift. Nesbitt rose to prominence when he designed the Chrysler PT Cruiser, according to Automotive News. He joined GM in 2001 and has been there ever since in multiple high-level roles. In 2007, he was appointed vice president of design for North America and was later briefly general manager of Cadillac in 2009-2010. Nesbitt took over as the vice president of GM's international operations design in China in 2011. This shuffle also moves Ken Parkinson, currently styling boss for Chevrolet trucks, to China as design vice president there. In addition, John Cafaro becomes the person in charge of the look for Chevy globally, rather than previously splitting that role between cars and trucks with Parkinson. GM Global Design Leadership Changes – effective June 1, 2015. Bryan Nesbitt, Design Vice President, GM China will repatriate to North America and assume the position of Executive Director, Global Buick and Global Architectures. He will be located in Warren, MI. Bryan will be the design Champion for Buick in the US and China. Ken Parkinson, Executive Director, Global Chevrolet Trucks and Global Architecture will assume the position of Design Vice President, GM China. He will be based in Shanghai, China. Andrew Smith, Executive Director, Global Cadillac and Buick Design will assume the position of Executive Director, Global Cadillac. He will continue to be the design Champion for the Cadillac brand. In addition, he will continue to lead the Global Color & Trim team. He will be based in Warren, Michigan. John Cafaro, Executive Director, Global Chevrolet Cars will assume the position of Executive Director, Global Chevrolet. He will be the design Champion for Chevrolet. In addition, John will lead the exterior components and accessories team. He will continue to be based in Warren, MI. The roles and responsibilities of Helen Emsley, Mark Adams, Carlos Barba, Clay Dean, Michael Simcoe, and Teckla Rhoades remain the same. Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience.

Race Recap: 2013 Twelve Hours of Sebring, cakewalk up front, grindfest out back [w/spoilers]

This year's 12 Hours of Sebring wasn't exactly a foregone conclusion because we're still talking about racing, and anything can happen when the speeds are as high as the adrenaline and the desire. But we're still talking about Audi bringing it's two top-spec racers - and its huge budget and its nearly neurotic attention to detail - to a race that it uses as a test bed for The 24 Hours of Le Mans and as a way to open the endurance racing season with a victory.
Besides, 12 hours is a long time, especially at Sebring, and things didn't go all Audi's way. On top of that, although it was a pretty quiet race, behind the Audis things got even grimier, with plenty of battles, plenty of mechanical issues, and the new BMW Z4 GTE and Viper GTS-R being race tested. Oh, and that brand new chromed-out DeltaWing...