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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.

Recharge Wrap-up: Ferrock a carbon-negative cement substitute, Audi makes e-diesel

A cement alternative uses recycled materials and traps CO2 rather than producing it. Invented by David Stone at the University of Arizona, Ferrock uses recycled steel dust and glass to produce a substance stronger than conventional concrete. Cement has a high carbon footprint from the high heat needed to process the limestone. Ferrock needs no such heat, and it actually uses CO2 to harden, making it, as Stone calls it, a carbon-negative material. Learn more in the video above, see the transcript at PBS NewsHour and read more at Green Car Reports. Teslarati offers a detailed rundown of Tesla's new Valet Mode feature for the Model S. Part of the Firmware 6.2 update, Valet Mode allows the owner to disable certain performance features and block personal information when letting someone else drive the car. It limits the car's to speed to 70 miles per hour, and caps output at 80 kW. It can also disable mobile app access, Homelink, Bluetooth and wifi and the "Places" function, which stores addresses for you. The folks at Teslarati did find some shortcomings in the new feature, though. Read more at Teslarati. Audi has produced its first batch of e-diesel made from water and CO2. The fuel is made by reacting hydrogen from the water with CO2 to make long-chain hydrocarbon compounds called "blue crude." That can then be refined similarly to crude oil to make e-diesel, which is a fuel free from sulfur and aromatic hydrocarbons. That e-diesel can be used on its own, or mixed with fossil fuel diesel to power a vehicle. "In developing Audi e-diesel we are promoting another fuel based on CO2 that will allow long-distance mobility with virtually no impact on the climate," says Audi Head of Sustainable Product Development Reiner Mangold. Read more in the press release below. Fuel of the future: Research facility in Dresden produces first batch of Audi e-diesel - The verdict: Pilot plant produces high-quality diesel fuel - No need for mineral oil: e-diesel made from water, CO2 and green power - Minister Wanka: "Synthetic diesel using CO2 is a huge success" Audi has taken another big step in the development of new, CO2 neutral fuels: A pilot plant in Dresden has started production of the synthetic fuel Audi e diesel. After a commissioning phase of just four months, the research facility in Dresden started producing its first batches of high-quality diesel fuel a few days ago. To demonstrate its suitability for everyday use, Federal Minister of Education and Research Prof.

Delphi thrilled with results from autonomous car's cross-country trip

In the first trip across the United States ever made by an autonomous car, engineers from Delphi Automotive were surprised to learn that, in some cases, their vehicle behaved a lot like a human driver. "The car was scared of tractor trailers," said Jeff Owens, the company's chief technology officer. "The car edged to the left just a little bit when it would pass trucks, and that was an interesting observation." Engineers made hundreds of notes throughout the drive, as the autonomous car covered 3,400 miles through 15 states en route to a showcase near the New York Auto Show. Overall, company officials said the car performed better than anticipated in a variety of road and weather conditions. In the course of the cross-country drive, drivers actually controlled the car only for about 50 miles, and those cases were limited to on-and-off ramps and the occasional construction zone where lanes were not marked or only sporadically marked. The purpose of the trip was to glean information on how the autonomous car worked in a real-world environment. Google and others have tested autonomous cars and autonomous features in select real-world environments before, but Delphi's adventure was the first to trek into a test with such varied challenges over a nine-day trip that began near the Golden Gate Bridge on March 22. There are some things the engineers have already learned, like the fact the camera systems had the occasional blip when the sun-angle was low. And there are some things to still be learned, as they pour over three terrabytes worth of data from cameras, radar and lidar sensors in the weeks ahead. "It's going to take us a couple weeks to digest all this," Owens said. "But we had all the data from tests. It was time to put this on the road." Built into an Audi SQ5, the vehicle was striking, if only for the fact it looked like a normal car. Many other autonomous vehicles have quirky sensors atop the roof or other features that make them stand out as experiments. Delphi arranged this one to look as much like a normal car as possible, right down to stowing an army of computers under cargo mats, so the rear contained as much trunk space as the production model. If a fellow motorist didn't know where to look -- or take the time to notice the person in the driver's seat didn't have their hands on the wheel -- there was no reason to suspect this was anything other than a regular car.