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Average new-vehicle transaction price hits a whopping new peak in December

Elevated prices for products and higher borrowing rates led to record high transaction prices for new vehicles in December, with the average cost in the U.S. rising to a record $49,507, according to data from Kelley Blue Book released today. The report notes that ATPs — average transaction prices — have climbed above suggested retail prices — MSRPs — for more than a year. Sales volumes were up in December on a year-over-year basis by more than 5%, a situation Kelley attributed to improved supply. Overall sales for 2022, however, were off 8% year over year. “The transaction data from December clearly indicates overall prices showed no signs of coming down as we headed into year-end,” said Rebecca Rydzewski, research manager of economic and industry insights for Cox Automotive. “Luxury prices fell slightly in December, but non-luxury transaction prices were up. Truck sales were particularly strong last month, and with many trucks selling for more than $60,000, a new record was all but inevitable.” Industry analysts claim the most obvious headwinds in the new car market are generated by higher interest rates, forced by the Federal Reserve's rate hikes intended to tame inflation, and by generally limited inventory. A recent report from J.D. Power showed that the average monthly payment for a new vehicle loan in December was $718, up $47 from a year ago. But 16% of consumers in December took out loans with monthly payments of over $1,000. Consumers think vehicles, and electric vehicles especially, are way too expensive. Fortunately, manufacturersÂ’ incentives, all but extinct in the past two years, are returning, especially in the electric-vehicle and luxury market, the Kelley data suggest. Plus, "With the new tax credits on the way, electric vehicle ATPs will drop lower for qualifying vehicles,” Rydzewski said. Non-luxury brands, such as Honda and Kia, showed particularly strong performance in December, with the average price paid at $45,578 — a record high and an increase of $994 month over month. Meanwhile, the average luxury buyer paid $66,660 for a new vehicle last month. Mercedes-Benz and Land Rover showed the most price strength in the luxury market, transacting between 2.6% to 6.5% over sticker price. But luxury brands Audi, BMW, Infiniti, Lexus, Lincoln, and Volvo showed the least price strength with some discounting in effect, selling 1% or more below MSRP in December, according to the survey.

Audi SQ7 could come to US with TDI power

When Audi released the new SQ7 TDI, we couldn't help but wonder whether it would ever see an American road or showroom. And the answer is: maybe. When reached for comment on the prospect of the new diesel performance ute making its way to North America, Audi USA spokesman Mark Dahncke told Autoblog that "the SQ7 is not officially signed off on for the US, but we are optimistic." Those are encouraging words, even if they stop short of official confirmation. For those who missed the announcement in the wake of the Geneva Motor Show last week, the new Audi SQ7 TDI is a technological tour de force. It packs a 4.0-liter V8 diesel engine, augmented by two turbochargers and an electric compressor to produce 435 horsepower and 664 pound-feet of torque. It debuts a new 48-volt electrical system that powers one of the compressor and the electromechanical adaptive suspension. And just for good measure, it also features an eight-speed automatic transmission, a four-wheel steering system and all-wheel drive. The vehicle represents the first time Ingolstadt has applied the S performance badge to its largest model, and though initially announced for Europe, Dahncke's optimism leaves us hopeful in turn that it could steam its own way to American shores. If that optimism proves justified, the next big question is whether it will stick with the diesel engine or switch to a similarly powerful engine burning gasoline to more closely match American preferences – much as it did in bringing the smaller SQ5 to the US. But Dahncke tells us they "expect it to be a TDI if it does come." The decision to market a powerful diesel SUV in America would be a bold move on Audi's behalf, particularly in the wake of the diesel emissions scandal. The debacle is still fresh on the public's mind, having rocked the entire Volkswagen Group of which Audi is part – and historically a major proponent of diesel propulsion. If approved for the US market as proposed, the SQ7 TDI would far outshine the diesel versions of the Mercedes GL-Class, Porsche Cayenne, BMW X5, and Range Rover currently available – not to mention the 3.0-liter V6 TDI with 240 hp and 428 lb-ft of torque in many of Audi's models (which are, at the time of this writing, affected by a stop-sale in the US). Related Video: Featured Gallery Audi SQ7 TDI View 27 Photos Image Credit: Audi Green Audi Crossover SUV Diesel Vehicles Luxury Performance audi sq7

Automakers score 8 out of top 20 most-watched ads on YouTube [w/videos]

Who would have ever thought there'd be a day where people are able to skip television commercials only to go to websites to watch them later? Such is the joy of a DVR and YouTube. AdWeek tabulated the 20 most-watched ads on YouTube, and found that nine were car-related including eight coming from automakers.
Volkswagen continued its Star Wars theme with two ads in the top 20, including the highest-ranking car commercial The Bark Side spot at number three with almost 18 million views, which doesn't even have a single car in it. Some of our favorites are from Chrysler with Clint Eastwood in It's Halftime in America and House Arrest with Charlie Sheen for the Fiat 500 Abarth. Chevrolet, Honda, Audi and Toyota were the other automakers in the top 20, but we'd be remiss if we didn't at least mention one of the coolest ads on the list, the Hot Wheels corkscrew jump.
Of all the car videos, only the Fiat ad wasn't played during a Super Bowl. Check out all eight videos - in order - after the jump. Nike took the top spot with its My Time is Now ad that has been seen online more than 20 million times with Pepsi's Uncle Drew posted up in the runner-up; some of the other videos include four Old Spice commercials and an ad in which Snoop Dogg is pedaling Hot Pockets.