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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.

2017 GMC Model Year Preview and Updates

GM's 'professional grade' truck and SUV specialist continues to deliver its utility-with-luxury vibe, optimized in the all-new Acadia, relatively new Canyon and continual updates to its Sierra pickups and Yukon SUVs. GMC ACADIA: An all-new Acadia - pictured above - is aimed at the heart of the midsize segment. In an unusual step, the GMC product team downsized the Acadia, dropping 700 pounds from the earlier platform in the process. The new crossover is available in four trims – SL, SLE, SLT and Denali – and an offroad-oriented All Terrain package is available on both SLE and SLT when equipped with all-wheel drive. For young families, GMC introduces the industry-first Rear Seat Reminder, a prompt which will remind the driver to check the rear seat area before leaving and locking the vehicle. CANYON: The midsize pickup introduces two new variants for 2017. The upmarket Denali adds swag – unique chrome grille, 20-inch aluminum wheels and various interior upgrades – to its swagger, while the All Terrain X provides the adventure traveler with all-terrain tires, off-road suspension, Hill Descent Control and all-weather floor liners. SIERRA: The Sierra's maximum trailer tow rating of 12,500 pounds is the best in the full-size, crew cab segment. New features include Teen Driver, active aero shutters on all models and available tri-mode power steps. Also, GMC adds two new colors to the palette: Dark Slate Metallic and Pepperdust Metallic. SIERRA HD: The big news is the addition of the All Terrain X to GMC's heavy duty lineup. With an offroad-specific footprint provided by its 18-inch aluminum wheels and Goodyear Duratrac tires, ground clearance is enhanced by the Z71 off-road suspension, and an Eaton automatic locking differential keeps you rolling. TERRAIN: While the 2018 Terrain awaits its showroom debut, the 2017 Terrain's new Nightfall edition darkens the Terrain vibe. The one new color for 2017 fails to hit a brighter note; it's Graphite Gray Metallic. YUKON/YUKON XL: Perhaps the ultimate Uber capsule, the big/bigger SUV enters 2017 with a host of refinements, including GM's Teen Driver feature, upgrades to rear seat entertainment, available low speed forward automatic braking, active aero shutters for improved efficiency and one new color: Dark Sapphire Blue Metallic. If you're looking to maximize your visual presence, consider the SLT Premium Edition, which ups the chrome content well beyond the commercial minimums.

GM dealers unhappy about pickup prices

The backlash is beginning. Following General Motors' price hike of the Chevrolet Silverado and GMC Sierra last week, dealers across the country are expressing their ire over increasing prices in the face of rebates and discounts on trucks from Ford and Ram.
Speaking to Automotive News, Sam Pilato, the general manager at Dimmitt Chevrolet in Clearwater, FL, Silverados are "selling very poorly." W. Carrol Smith, the president of Monument Chevrolet in the heart of truck country, Texas, said, "[GM's] position is that the vehicle stands on its own and it doesn't need a bigger rebate. That's not what the market is telling us."
According to AN, that's the general attitude amongst Chevy and GMC dealers across the country, where the twin pickups are getting butchered in sales by competitors offering up to $9,000 off their sticker prices. Part of the problem for GM is that its trucks are arriving on the market near the end of the current F-150's lifecycle, a fact that Ford has taken advantage of.