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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.

Cadillac Celestiq and Honda Civic Type R revealed | Autoblog Podcast #740

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. They kick things off by talking about the latest vehicle reveals, specifically the Cadillac Celestiq show car and the 2023 Honda Civic Type R. They discuss Chevy's move to offer incentives to help prevent customers from flipping the new Corvette Z06. Greg has spent time behind the wheel of the 2022 Range Rover First Edition, while John has been driving the 2023 Genesis GV60 Performance. From the mailbag, a listener is looking to replace a 2003 Subaru Forester with something that can hold three dog crates and gets decent fuel economy. Another listener asks whether to keep a 2008 Porsche 911 Turbo or replace it with a 992-generation 911 for which he is awaiting an allocation. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #740 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 Cadillac Celestiq show car revealed 2023 Honda Civic Type R revealed Chevy offers incentives to prevent Corvette Z06 flipping Cars we're driving 2023 Genesis GV60 Performance 2022 Land Rover Range Rover First Edition Spend My Money: Replacing a 2003 Subaru Forester Spend My Money Update: New or 2008 Porsche 911? 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:

Cadillac ad boss is happy controversial Poolside TV ad created debate

Remember Cadillac's controversial commercial for it ELR plug-in hybrid? Did you find it provocative? If so, that's a good thing according to the brand's advertising director, Craig Bierley. First aired during NBC's coverage of the Olympic opening ceremony, the minute-long spot returned to the tele again this weekend, bookending the Academy Awards on ABC. Titled Poolside, the bit was meant as "brand provocation" and whether you enjoyed it or not – sentiment is said to run 3:1 on the pro side – we can probably all agree it fulfilled its role as such. If you were one of those who felt the ad erred on the side of nationalistic consumerism (or what have you), your anger might be somewhat assuaged after reading this article from Advertising Age in which Bierley addresses most of what he believes are misconceptions about the message. For one, the spot isn't aimed at the One Percent, just those who make $200,000 a year. Or, as Craig Bierley, Cadillac's advertising director, calls them, "people who haven't been given anything." Bierley told Advertising Age that the spot doesn't celebrate workaholicsm, instead, "We're not making a statement saying, 'We want people to work hard.' What we're saying is that hard work has its payoffs.'" While our commentors seemed mostly to enjoy discussing the value proposition that is (or is not, depending on your point of view) the Cadillac ELR, the majority appeared to enjoy the commercial. If you were one of those offended, however, let us know if your opinion has changed upon reading Cadillac's defense. If you don't remember what all the fuss was about, scroll below to take another dip in Poolside.