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Audi pours $28 million into Silvercar rental company

Want an Audi waiting for you when you land at the airport? Silvercar is the place to turn. The rental car company exclusively stocks fully loaded silver examples of Ingolstadt's finest at airports across the country, available to book via smartphone app with no lines or paperwork. And now the automaker whose vehicles make up its fleet is investing big in the company. Audi's $28-million Series C investment is earmarked to help Silvercar expand into new markets. The company only started in 2012 and already runs locations at airports in Los Angeles, San Francisco, Miami, Orlando, Phoenix, Dallas, Austin, and Denver. In the last six months alone, it opened new locations in Las Vegas, Fort Lauderdale, Chicago, and New York as well. Aside from promoting the rental operation, Audi and Silvercar will collaborate on developing the Audi Shared Fleet program to allow companies to loan vehicles out to their employees. Audi of America chief Scott Keogh will join the Silvercar board, along with Ken DeAngelis from Austin Ventures, which contributed Series B funding alongside Facebook co-founder Eduardo Saverin. Audi to lead $28 million Series C equity issue by car rental innovator Silvercar January 04, 2016 | HERNDON, Virginia - Largest equity issuance yet by Silvercar - Funding will help Silvercar and Audi launch the new Audi shared fleet, a turnkey transportation solution on corporate campuses - Investment extends the Audi connection with Silvercar, which bases its fleet exclusively on silver Audi vehicles Audi is leading a new $28 million Series C equity issuance by Silvercar, the next-generation car rental company. The capital raise is the largest yet for Silvercar, which was founded in 2012 with a fleet consisting of silver Audi models. The Series C announcement comes as Silvercar unveils its enhanced digital and mobile platforms designed for an optimized user experience and expands into Las Vegas, its 12th market, all of them in the U.S. Silvercar also received funding from Series B investors, including Austin Ventures and Eduardo Saverin, co-founder of Facebook. The funding will enable Silvercar to accelerate its award winning airport car rental business and expand to new markets nationwide. Additionally, as part of the next phase of the Silvercar partnership with Audi, the companies will work in tandem to develop Audi Shared Fleet, a turnkey solution for businesses looking to provide accessible transportation to their employees on corporate campuses.

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 teases Frankfurt reveal... is it the A8?

Audi has already rumored to have plans to reveal a 650-horsepower Sport Quattro Concept at the 2013 Frankfurt Motor Show in September, but it also seems that we'll be getting our first look at the 2015 Audi A8 as well. Based on a panned-out shot of a teaser video, we can clearly see that this is a new sedan model, so it makes sense that is the updated A8 since we've already seen recent spy shots of that car that seemed to be almost complete.
In the short video, all that we can definitely see is the Audi logo in the grille, a five-spoke wheel with cross-drilled, ceramic disc brakes and a small portion of the front fender that has an almost mirror-like shine. We'll find out for sure in September, but until then, check out the teaser video posted below.