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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.

GM appears to repurpose Saturn Outlook parts on new Acadia

General Motors unveiled the company's refreshed GMC Acadia at the 2012 Chicago Auto Show yesterday, and if you were paying attention, you may have noticed something curious about the vehicle. While the new Acadia looks considerably better than its predecessor, a few components of the design looked more than a little familiar. Upon closer observation, it appears that GM has simply repurposed elements of the now defunct Saturn Outlook crossover on the 2013 Acadia. Both vehicles seem to share the same wrap-around rear glass, back hatch, tail light openings and exaggerated, squared-off fender arches.
While the vehicles are differentiated by badging, tail lamps and a rear valance, there's no denying the similarities toward the vehicle's rear. Up front, both share similar fenders, though adjustments have been made for the varying headlight designs.
That's good news if you just can't imagine life without the Saturn Outlook.

Inevitable GMC Canyon Denali spotted testing

Practically every other model in the GMC lineup already offers a more luxurious Denali option, so why not extend that to the Canyon midsize pickup? It's hardly a surprise to see the brand doing just that, especially since the standard model seems to be proving quite a success. This Canyon was recently spied testing wearing camouflage over its front end. The truck still needs to breathe, though, and the opening in the obfuscation makes it quite easy to spot the Denali's chrome mesh grille, rather than the horizontal slats of the standard model. Also, just peeking out of the bottom part of the masking is the lower air intake, which appears to be completely lined in chrome now. At the sides and rear, the styling is identical to the current look of the pickup, at least for this prototype. While our spies didn't snap any shots of the interior, it seems safe to anticipate the usual Denali upgrades there, including better materials and additional tech features. Of course, expect a bump in price at the same time to pay for the improvements.