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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.

Autoblog's ultimate holiday rides

Over the hills and through the woods, it's the time of year when many of us visit family and friends for the holidays. But getting there can be a chore. It's cold and snowy across much of the United States, and even if the climate is favorable, the drive to grandmother's house often is not. Think back to holiday road trips of yore: They probably included crying babies, antsy children, hungover adults and frequent bathrooms stops all around. Now, we're all at different life stages here at Autoblog, and the perfect car for one staffer might be as useful as a team of Budweiser Clydesdales to another. Some of us bounce from family event to family event with children and a labrador in tow, while others prefer a quieter, simpler holiday. But whatever the endeavor, we all need wheels. With that in mind, here is the unofficial Autoblog list of the ultimate cars in which to tackle the holiday season. 2015 Ferrari FF To borrow a chestnut from Top Gear presenter James May, "As you'd expect, I've done this properly." That oddly voluptuous ruby bolide in the photo above? It's a 2015 Ferrari FF – all 652 all-wheel-driven horsepower of it. What makes a Ferrari the ideal for holiday time in PaukertLand? My Midwestern winter breaks are wonderful, but they're typically frenetic and slushy, involving a lot of schlepping from house to house and even city to city, not to mention inevitable last-minute runs for forgotten presents and dinner ingredients. Needless to say, a powerful V12 is a welcome ally for such duties. And this one isn't just a friend when the road is clear. The FF has been gifted Ferrari's novel 4RM AWD system, and despite sitting lower to the ground than, say, an SUV, it's a pretty effective tool for real winter driving, especially when outfitted with a set of snow tires. Unlike other Ferraris, it's also a rather practical thing, with legitimate seating for four adults and 15.9 cubic feet of cargo space – that's precisely as much room as a Mercedes E-Class – and you can fold the rear chairs and cram 28.2 cubes-worth of holiday cheer in the back. Okay, so it's far from cheap and fuel economy isn't that great, but who cares? Just drop a paddle-shifted gear or two, bury the throttle and Repeat The Sounding Joy. Ain't the holidays grand? – Chris Paukert Executive Editor 2015 Chevrolet Tahoe My Mom gives out more presents than any other human being I've ever encountered.

X1, 3 Series power BMW back into global luxury autos sales lead

BMW managed to eke ahead of Audi for the global luxury sales crown in February. According to Bloomberg, BMW saw deliveries swell by 7 percent in February, besting the 3.2 percent jump enjoyed by Audi and giving BMW a 407-unit delivery lead over its rival last month. Mercedes-Benz, meanwhile, continued to falter, with the brand selling some 37,229 fewer machines than BMW, whose factories are running at full capacity to keep up with demand. Models like the X1 (shown above) enjoyed a sales increase of 40 percent in February while the company's bread-and-butter 3 Series jumped by 26 percent.
Mercedes-Benz hopes to stem its continued market share loss with the addition of the entry-level CLA sedan to its portfolio in April. The company is set to roll out an updated version of its cash-cow E-Class at the same time, and a new-generation S-Class will follow along shortly thereafter. Meanwhile, the company is increasing production to meet demand for its A and B-Class models.