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Average transaction prices climb to a record $36,270 in January

The automotive sector made a hash of the numbers last month, a mess of pluses and minuses clogging the transaction-price charts according to Kelley Blue Book. The overall industry rose one percent, even though buyers bought fewer cars and light vehicles in January 2018 vs 2017 using the selling-day adjusted rate. Due to January transaction prices rising to $36,270, a record for January, the value of new vehicles sold climbed more than $1 billion compared to January 2017. KBB's transaction prices don't include customer incentives, which changes the complexion slightly; average incentive spending rose to just over ten percent. The average transaction price in December 2017 was $36,756, so January dropped a bit - nothing unexpected, with the month annually blamed for "January doldrums." More revealing is the fact that the average transaction price in January 2017 was $34,910. This year's plumped-up figure came courtesy of the continued shift to crossovers, SUVs, and light trucks, which shouldn't surprise anyone who's read an automotive blog in the past 20 years. That category comprised nearly 70 percent of new vehicle sales for the month. Some manufacturers profited more than others, though. Fiat Chrysler managed 12.8 percent fewer sales in January compared year-on-year, but the company's vehicles sold for $1,300 more. The Ford brand suffered a 6.3-percent dip in sales, but brand transaction prices increased $2,000, while a Lincoln sold for $8,700 more on average. General Motors sold more cars and sold them for more money; overall GM transaction prices rose four percent, or $1,270, while a GMC traded hands for seven-percent more than in January 2017 and a Cadillac got $2,300 more on average. Of KBB's listed automakers, the Volkswagen Group got the most of out its customers, transaction prices rising at the German automaker by 5.6 percent to $42,243 in January 2018 compared to a year earlier. American Honda followed with a 4.3-percent increase to $28,991, GM in third at 4.1 percent to $40,313. Find your next car at Autoblog using our new and used car listings or the Car Finder tool. Broken out by segment, minivans rocked the table, transaction prices leaping by 7.9 percent to $35,380 compared to January a year earlier. Luxury cars boasted the next-highest rise, at 3.6 percent to $58,533.

4.5 million Hondas, Acuras are being recalled worldwide to fix a fuel pump defect

Honda is recalling more than 4.5 million cars worldwide because of a fuel pump problem that could lead to engine failure or stalling in traffic, which could cause an accident. The recall includes 2.54 million vehicles in the United States. The automaker had previously recalled 628,000 U.S. vehicles in 2021 and 136,000 in 2020 for the same issue. Honda issued recalls over the same issue earlier this month in China and Japan. National Highway Traffic Safety Administration recall documents say the impellers inside fuel pumps of 2017-2020 Hondas and Acuras were improperly made, meaning they “can deform and interfere with the fuel pump body” over time. This could prevent the engine from starting, or can cause a stall while driving, which depending on the situation in traffic, could be dangerous. Fortunately, Honda says it hasn't received any reports of crashes or injuries. To remedy the problem, Honda will replace the in-tank fuel pumps, at no cost to owners, in the entire U.S. recall population of 2,539,902 vehicles, though the defect may be present in only 1 percent of those cars. Because of the size of the recall, repairs will be done in phases, with first owners receiving notification letters in February. Dealer notifications began this week. “Countermeasure replacement parts are not available in sufficient quantities for all recalled vehicles at the time of this announcement, and American Honda intends to notify vehicle owners in stages," Honda wrote. Meanwhile, owners wishing to confirm that their vehicle is included can enter their VIN at the NHTSA recall site or at American Honda's and Acura's recall platforms.  NHTSA's campaign number for the recall is 23V858000. Honda's numbers for this recall are KGC and KGD. Owners may also contact Honda customer service by phone: 1-888-234-2138.

Honda issues second Fit window recall, this time for 143k units

Honda has announced it is recalling certain 2007-2008 Fit models in the US to fix what could have been faulty repairs made in a previous round of recalls. The vehicles may have been manufactured with a master driver's window switch that could allow rain water or spilled liquids into the switch. If that happens, the liquids could cause the switch to overheat, melt and potentially damage the vehicle's wiring or cause a fire. Honda says no accidents or injuries have been reported due to the problem, but warns owners to park their Fit hatchbacks outside until a dealer can inspect the switch.
All told, the recall covers 143,083 Fit units. Back in 2010, Honda recalled the 2002-2008 model-year Fit for the same issue. That recall covered some 646,000 units worldwide after a two-year-old child in Cape Town, South Africa burnt to death while sleeping in a Fit. Honda says the repair made during that round of recalls may not have been sufficient, and the latest fix should take care of the problem for good.
You can read the full press release on the latest round of recalls below for more information.