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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.

2018 Audi SQ5 will use 48-volt electric supercharger

It seems like 48-volt electric systems and electric compressors are becoming relatively mainstream, and Audi will be adding another vehicle powered by this emerging technology in 2017, according to comments Audi powertrain chief Oliver Hoffman made to Autocar. Hoffman said the upcoming SQ5, probably a 2018-model-year vehicle, will use a version of the electric compressor technology that debuted on the SQ7. While the SQ7 uses two gas-driven turbochargers and one electric compressor, the SQ5 will likely only use one conventional turbo and one e-compressor. That should allow it to make 365 hp, but 390 hp is possible from the system and may hint at room for a more powerful SQ5 Plus down the road. Remember, the European SQ5 uses a 3.0-liter TDI engine, and that's the same basic engine that will power the new SQ5 with the addition of the new forced induction system and 48-volt electrics. And also remember that the US-market SQ5 uses a supercharged 3.0-liter gasoline engine, not the TDI unit, which is one of the reasons it's still on sale in the wake of the TDI scandal. Torque is the real differentiator: the current US-market SQ5 makes 354 hp and 347 lb-ft of torque, while the current Euro-market SQ5 Plus makes a massive 516 lb-ft. No word yet on how the dual-compressor system on the upcoming SQ5 will affect torque numbers, but expect the new engine to again have considerably more twist than its gas-powered US-market counterpart. Related Video: News Source: Autocar Green Audi Technology Emerging Technologies Crossover SUV Diesel Vehicles Performance audi sq5 48-volt system

The List #0178: Attend Rally School

Jessi and Patrick attend Team O'Neil Rally School in Dalton, NH, to learn how to shred in the snow. Veteran instructor and school founder Tim O'Neil demonstrates left-foot braking, slalom techniques, turning, proper ways to blip the throttle and more in this episode. They get behind the wheel of modern Ford Fiestas with front-wheel drive and a vintage Audi Quattro with all-wheel drive. They catch on quickly, and O'Neil tells Patrick: "Tell your grandchildren you are a rally driver." Watch as our hosts check "attend rally school" off their list. Have an RSS feed? Click here to add The List. Click here to subscribe to The List in iTunes. Click here to learn more about our hosts, Jessi and Patrick. Audi Ford Subaru The List Videos rally quattro