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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.

8 fastest depreciating cars in America

Getting a new car is an amazing experience. The fresh new scent, the barely touched interior, the double digit miles on your odometer, and... the depreciation once it leaves the car dealers lot? Maybe not that last one. To save you from the hurt of a quickly depreciating new car, we collected 8 of the fastest depreciating cars in America. And here's a surprise, one of them is a Toyota. Learn more at Autoblog.com Cadillac Infiniti Jeep Kia Lincoln Toyota Autoblog Minute Videos Original Video jeep compass cadillac xts infiniti q50 camry q50

Reuss says Cadillac CT6-based Buick could happen

Could the upcoming Cadillac CT6 and its Omega platform spawn a Buick variant? According to General Motors' product chief Mark Reuss, it could potentially be in the cards, but "not yet." "We're working on that," Reuss told Automotive News at the 2015 New York Auto Show. While there hasn't been a large, rear-drive Buick on dealerships since the Roadmaster in 1996, the company gave a big hint that it could head in that direction with the Avenir Concept, shown earlier this year at the Detroit Auto Show. As Automotive News explains, a rear-drive Omega-platform Buick could be a real hit in China, where consumers buy 13 Buicks for every one Cadillac. That move would be a big help to GM's bottom line, too, as it'd significantly increase the Omega platform's economy of scale. If a large Buick based on the CT6 were to head to China, though, it likely wouldn't be a simple case of badge engineering (thank God). Reuss hinted to Automotive News that while the mixed-material construction of the CT6 platform "is very flexible," doing an "identical version of that platform or not is a different conversation." What are your thoughts? Should Buick adopt the Omega platform for an Avenir-based sedan? Should that vehicle be sold here in the US, or should it be a China-only offering? Have your say in Comments. Related Video: