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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.

Personal testimonies show real-world effect of plugging in with Chevy Volt

At this point, there are tens of thousands of individual stories about what it's like to live with a Chevrolet Volt. But it also remains informative to take a look at one of these in depth. For example, one Atlanta-area Volt owner says he's cut his cents-per-mile ownership costs by almost 40 percent compared to his previous car primarily because of his ability to drive almost all the time on electric power. Jeffrey Cohen told Clean Technica that he put about 14,000 miles on his Volt extended-range plug-in hybrid for the year that ended October 2013, and that more than 92 percent of those were on electrons. He estimates his "lifetime" miles per gallon rating at a whopping 384 mpg, a figure pushed upward by the fact that he installed a Level 2 charger at home while his employer added an external 110-volt charger at work. Cohen is spending 45 cents a mile for his car, compared to 73 cents in his Infiniti M35. As a result, he's spending 45 cents a mile for his car, compared to 73 cents a mile with his prior vehicle, an Infiniti M35. About two-thirds of those Volt costs are for the $349-a-month lease payments, while 15 percent is insurance, 11 percent is for the charger and seven percent for the gas and electricity that actually powers the car. Helping lower that last figure is an overnight electricity rate that's about 10 percent of Cohen's daytime rate. Chevy parent General Motors hopes such testimonies will re-trigger sales for the Volt in 2014. Last year, GM sold 23,094 Volts, down 1.6 percent from 2012. We expect our readers have similar stories they'd like to share in the Comments. Related Gallery 2011 Chevrolet Volt: Review View 22 Photos News Source: Clean TechnicaImage Credit: Lead image: AP Photo/Jae C. Hong Green Chevrolet GM Electric running costs

This is your 2014 Chevrolet SS

Think you've waited long enough for this? If so, then you'll want to savor the high-res photos we've so far been given of the 2014 Chevrolet SS, the first rear-wheel-drive performance sedan from The Bowtie in 17 years.
We all know its our version of the brand new VF-model Holden Commodore, but what's under the hood that earns the appellation "performance?" A 6.2-liter LS3 V8 engine producing 415 horsepower and 415 pound-feet of torque. That's 35 hp and lb-ft less than the same engine is expected to produce in the 2014 Chevrolet Corvette. Chevrolet says the sedan will get from 0-to-60 miles per hour "in about five seconds."
Shifting comes courtesy of a six-speed automatic with paddles on the steering wheel, while stopping arrive via four-piston Brembo calipers up front, a single sliding piston in back. The forged aluminum wheels are 19-inchers all around, each set supporting right around 50 percent of the sedan's weight, and the aluminum hood and trunk are meant to keep the center of gravity low.