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Japan considering offering free hydrogen cars because $30k incentives apparently not enough

There's no such thing as a free lunch. A free hydrogen fuel-cell vehicle, though? It may become a possibility in Japan, says Automotive News. We know the Japanese government is being plenty supportive of hydrogen vehicles since it will provide about $20,000 worth of incentives to prospective customers of the $69,000 vehicle. And with local governments like Toyota City's Aichi prefecture supplying another $10,000, out of pocket costs could reach less than $40,000 for the Toyota hydrogen car. We don't know for sure that the 'free' H2 car will happen, but with Toyota starting sales of its first production FCV next spring (potentially named Mirai), it could happen. That would also spell good news for Honda, which will follow up Toyota's effort for its own hydrogen fuel-cell vehicle. The case for the free car is still pretty tenuous. Automotive News, citing the Nihon Keizai business publication, reports that the Japanese government has thrown around the idea of subsidizing the vehicles outright to early adopters just to gain some momentum for this kind of zero-emissions vehicles. Heck, the government would even throw in free fuel for good measure. We'll see about that. To see some of the official hydrogen excitement, click here for a video of Japanese Prime Minister Shinzo Abe taking a Toyota fuel cell vehicle for a brisk test drive. Featured Gallery Toyota at 2014 Aspen Ideas Festival News Source: Automotive News - sub. req.Image Credit: Toyota Government/Legal Green Honda Toyota Hydrogen Cars incentives h2

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 reveals Concept D crossover in China

Honda has, as promised, rolled in to the Shanghai Motor Show with the Concept D. Looking like a cross between an HR-V and a Decepticon, the Concept D previews a future crossover to be offered exclusively as the Japanese automaker's flagship model in China. The styling is certainly not for the faint of heart, with more angles than a geometry set, more vents than an air conditioner, a proliferation of LED lighting, gold spokes to match the bodywork and a sharply raked rear window with a giant wing at its peak. Details released with the trio of images remain scarce, but the production version of the concept you see here is slated to be offered in China through two of the company's local joint ventures, Guangqi Honda and Dongfeng Honda – albeit sure to be toned down some on the road from show stand to showroom. Honda Exhibits World Premiere of Concept D at Auto Shanghai 2015 BEIJING, China, April 20, 2015 – Honda Motor (China) Investment Co., Ltd. (HMCI), a wholly-owned Honda subsidiary in China, today exhibited at Auto Shanghai 2015* the world premiere of the Concept D, a concept model for a new SUV model under development. *The 16th International Automobile & Manufacturing Technology Exhibition, Venue: National (Shanghai) Center for Exhibition and Convention Press days: April 20-21, 2015, public days: April 22-29, 2015 The Concept D shows the direction of a mass-production SUV model which is currently being developed exclusively for the China domestic market as a top-end SUV model that offers high-quality driving and a spacious cabin. Equipped with advanced safety technologies and other advanced features, a Concept D-based SUV model will go on sale from both Guangqi Honda and Dongfeng Honda, positioned as a new flagship model of Honda in China. ?Comment by Seiji Kuraishi, President of HMCI "Including this Concept D, which is a proposal for a new value that only Honda can provide as the pioneer of the SUV market in China. We would like to continue providing attractive products equipped with our advanced technologies to our customers in China. Toward this end, we will accelerate the localization of our business in China."