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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.

On Broughams and Alfas | Autoblog Podcast #501

On this week's podcast, Mike Austin and David Gluckman discuss the odd history of the oft-recycled Brougham name. (Did you know some people pronounce it "broom" and they're not wrong?) There is of course discussion of what they've been driving lately, and things wrap up with Spend My (Your) Money buying advice to help you, our dear listeners. The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want buying advice of your very own, send a message or a voice memo to podcast at autoblog dot com. (If you record audio of a question with your phone and get it to us, you could hear your very own voice on the podcast. Neat, right?) And if you have other questions or comments, please send those too. Autoblog Podcast #501 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics and stories we mention 2017 Honda CR-V 2017 Porsche Macan GTS 2018 Porsche Panamera 4 E-Hybrid 2017 Alfa Romeo Giulia Quadrifoglio Brougham the guy and Brougham cars Used cars! Rundown Intro - 00:00 What we're driving - 02:51 Brougham - 37:39 Spend My Money - 47:28 Total Duration: 01:07:02 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show on iTunes Podcasts Alfa Romeo Cadillac Honda Porsche alfa romeo giulia alfa romeo giulia quadrifoglio porsche macan gts

2014 Honda Civic priced from $18,190*, new CVT boosts city mpg

For the third consecutive model year, Honda has given its Civic lineup some substantial improvements, and with the 2014 Civic Coupe and Sedan going on sale this week, the automaker has released pricing and fuel economy numbers for its gas and non-Si models. Honda has not released any images of the 2014 Civic Sedan yet, but we got our first look at the updated Coupe last month at SEMA.
Aside from styling changes introduced on the 2013 Sedan being carried over to the 2014 Coupe, the biggest update to all 2014 Civics might be the addition of the continuously variable transmission (CVT). Fuel economy figures carry over for cars with the manual transmission, but models swapping the previous five-speed automatic for the new CVT are seeing a boost in city fuel economy by 2 mpg helping the Civic max out at 31 mpg city for the fuel-miser HF trim level.
In terms of pricing, the 2014 Civic is getting a modest price hike of $225 for the base LX models, which now start at $18,190* for the Coupe and $18,390* for the Sedan (*not including $790 for destination charges). The sedan-only HF trim level is up $175, there's a $275 price increase for the EX and EX-L Coupe and EX Sedan models and an extra $475 has been tacked on to the EX-L Sedan.