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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.

Leaked GM document shows GMC Sierra I6 diesel is more powerful than F-150's

GM told us earlier this year that the 2019 GMC Sierra would be getting a 3.0-liter I6 diesel option, but it never mentioned power or fuel economy figures. Hold the phone though, because a leaked GM Canada document just showed up online that lists out the details we've been waiting for. Originally published by TFL Truck, the 3.0-liter oil-burner supposedly makes 282 horsepower and 450 pound-feet of torque. For those who are counting, that's more than the Ford F-150's 250 horsepower and 440 pound-feet from its 3.0-liter diesel. It soundly bests the 240 horsepower and 420 pound-feet of torque from Ram's 3.0-liter diesel as well. Fuel economy is another story, though. The promotional material states that it will get 28 mpg on the highway, which is 2 mpg short of the F-150's 30 mpg — mind you, it's only capable of that magical 30 mpg figure in rear-wheel drive form. There's another caveat here, too; these are numbers for Canada, so they're not exactly finalized EPA figures. However, we wouldn't expect drastic differences between the two when the American numbers come out. The leaked documents also state the diesel Sierra will be capable of towing 7,800 pounds. That number seems remarkably low when compared to the F-150, which can tow up to 11,400 pounds with its diesel. Extra power and torque would have us assume that GM could get even better numbers than Ford, so we're going to hold our final judgment for official word. A 10-speed automatic will do the shifting on the diesel, just like on the 6.2-liter V8. Since the Chevy Silverado is also expected to get this engine, we can assume the figures would be almost, if not identical, to those we see here. We recently drove the 2019 Sierra and Silverado without the diesel engines, so go check those reviews out if you'd like to know more of our thoughts on the redesigned GM trucks. Related video:

What we know, and think we know, about the 2016 Chevy Volt

With the next-gen Chevy Volt due to make an appearance at the Detroit Auto Show early next year, bits and pieces about the new car are making their way into the press. Perhaps most importantly, the new Volt is going to have better "fuel economy and efficiency," according to GM executive vice president Mark Reuss. The current Volt gets 98 MPGe and 37 miles per gallon on premium fuel. It also has a 38-mile electric-only range. We don't know how GM will improve the efficiency or to what degree, but the logical options include making the car lighter, giving it better aerodynamics and/or improving the powertrain. To that end, one of the big things we don't know for sure includes information on the new gas-powered engine. Forbes says it will be a downsized 1.0-liter, three-cylinder mill instead of the 1.4-liter, four-cylinder used in the current model, which could certainly help the car be more efficient. The new Volt is also going to have more technology, which shouldn't surprise anyone. GM is now openly talking about how it will change the way it markets the Volt, shifting away from the mass-market mentality to focus on the regions where the car is already popular. "There's a Northeast and West Coast market for Volt, and there's nothing wrong with that," Chevy chief marketing officer Tim Mahoney told Forbes. There are rumors that the new Volt will have seating for five by adding a seat in the back. This is something a lot of current Volt owners would love, but we've heard nothing official hinting that this would be the case. We expect the battery to be the new 17.1-kWh version, or maybe even have a capacity increase, so GM would have to seriously repackage the pack to eliminate the ridge that runs from between the front seats and then back to the rear two seats. If you've heard anything official, do let us know.