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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.

Is Acura working on a premium minivan?

Here's a vehicle that nobody saw coming. Unless Honda/Acura is keen to play tricks on us, our spy shooters recently caught what appears to be an Acura minivan fully camouflaged for testing on some back roads on a rainy day.
Details on the disguised minivan are rather scarce, but it certainly bares all the hallmarks of an Acura. The front grille alone gives it away with a look that mimics the latest MDX, and note that the orientation of the rear door handle heavily suggests that it slides to open. Moving inside, the tester appears to borrow some tech from the luxury brand's parts bin too, and the Acura logo seems to be covered in tape right in the middle of the steering wheel.
Mechanically, our spies believe that the production version of Acura's minivan might borrow the brand's V6, nine-speed automatic and Super Handling All-Wheel Drive - a similar layout to some trims of the TLX. The photographers also think that the vehicle is a little wider than the current Honda Odyssey to give occupants a bit more room. Given the more luxurious focus, the high-end model would surely carry seven people with a bit more opulence than the standard Odyssey, especially, we'd imagine, for second-row passengers. A launch for this posh hauler could be slated for the 2016 or 2017 model years.

'Butching up' the 2017 Honda Ridgeline

Honda has announced a number accessories for the Ridgeline at the Chicago Auto Show: black roof rails, cross bars, running boards, and fender flares; a skid plate; a hard tonneau cover; special 18-inch wheels with all-terrain tires; and a towing kit. Most of these items are to be expected, while a few others raise an eyebrow. It appears that Honda is testing the waters to see if there is an audience for a "butched up" Ridgeline. The skid plate, fender flares, and all-terrain tires all move it a step in that direction visually. I'm not absolutely certain, but I don't think these accessories, which have a slight nod towards off-roading, have been offered by Honda in the past. Perhaps an informed reader can clarify that? There's been no word yet as to whether the tire size is larger, but looking at the image, it appears the tire may have a slightly taller sidewall. I believe the factory 18-inch tire offered is a 265/60, so this may be a 265/65 tire. Again, someone at the Chicago show could clarify this. As tepid as this may seem, it's a start. That's the good news. If these items prove successful, they may just push Honda enough to offer a beefed up trim level. Fingers crossed. This concludes my series of Ridgeline reports. I'm hoping to be at the New York Auto Show in March, and the Ridgeline is on my list of vehicles to crawl all over. If I learn of anything new, you can be assured I will report it here. Related Video: Image Credit: Honda Honda Truck open road