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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.

Honda debuts NSX Concept-GT hybrid racer

Not to be outdone by Lexus and its new LF-CC racecar, Honda is also bringing a little more excitement to the Japanese Super GT racing series with its NSX Concept-GT. Yes, just like the original NSX, this racecar will wear the Honda badge in its home market when it replaces the current offering in that series, the non-production HSV-010 GT, which itself replaced the NSX in the series back in 2010.
Looking exactly how we'd imagine a race-prepped 2015 Acura NSX to look, this racer is mean and sexy at the same time, and it will be powered by a racing hybrid system with a turbocharged four-cylinder mounted behind the driver. No word on power output, but it will compete in the GT500 class, which restricts power output to 500 horsepower. Unlike the Lexus racecar, the Honda NSX Concept-GT will being competing this season starting with this weekend's race at the Suzuka Circuit before running the full 10-race 2014 season. Scroll down for the short press release.

Renewed deal continues to give Honda power to Ariel models

You can expect to hear screaming Honda engines in Ariel's stripped down vehicles for even longer; the two companies have just reaffirmed their exclusive powerplant supply deal in the UK. Ariel's models have used Honda power for the last 16 years. Just in time for the updated agreement, the eight technicians at the sports car brand's tiny factory just completed their 1,500th model with the Japanese automaker's high-revving engine. The basic Atom in the UK comes with the naturally aspirated 2.0-liter K20Z engine, and Ariel fits the mill with an exhaust and custom ECU tuning to make 245 horsepower. An optional supercharger can push the output to 310 hp or up to 350 hp. The top versions can reach 60 miles per hour in less than 2.7 seconds and a top speed over 155 mph. Ariel's other products have different Honda powerplants. The company's new Nomad uses a 2.4-liter K24 with 235 hp, and an optional supercharger can give the off-roader 290 hp. For those that prefer two wheels, the Ace motorcycle packs a 1,237cc V4 with 173 hp. In the US, the Atom wasn't always available with Honda power. Brammo, which previously imported the sports cars here, fitted them with a 2.0-liter EcoTec four-cylinder engine from General Motors. Ariel toyed with other powerplants, too, like its 500-horsepower V8 in the Atom 500. HONDA (UK) AND ARIEL RENEW EXCLUSIVE ENGINE SUPPLY DEAL AS 1,500TH HONDA-POWERED ARIEL ROARS OUT OF THE FACTORY Honda (UK) and Ariel renew exclusive engine supply deal as 1,500th Honda-powered Ariel roars out of the (very small) factory Honda (UK) and Ariel Motor Company renew exclusive engine supply deal for Atom and Nomad 1,500th Honda-powered Ariel in 16 years roars out of the factory Supercharged Civic Type R engine delivers a scorching 350bhp and top speed of more than 155mph in the famed Ariel Atom Honda (UK) and Ariel Motor Company have renewed their 16-year strong exclusive engine supply agreement which sees the famed Atom powered by the Civic Type R engine, and the new off-road Nomad by the Civic 2.4 unit. The news comes as the two brands celebrate the 1500th Honda-powered Ariel roaring out of the small factory in Somerset, where just eight highly skilled build technicians spend 100-200 hours painstakingly hand-crafting one vehicle each at a time, from start to finish. Over the last 16 years 1,500 new Ariels have been built here – just a few day's work for Honda's Civic-producing Swindon plant.