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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.

A closer look at the motorcycle El Chapo used to escape prison

Joaquin Archivaldo Guzman Loera, better known by his nickname, El Chapo, stands five-feet, five-inches tall. This defining trait – his nickname, not coincidentally, can be translated as "Shorty" in Spanish – is an important detail in his escape, as the tunnel that stretched a mile underground that led the drug kingpin to safety measures just one inch taller than Guzman's height. Clearly, this was a well-planned and executed escape. The tunnel that was custom-sized to perfectly fit El Chapo started at an abandoned building in the middle of an empty field and ended in a tight shaft that led to the shower stall in Guzman's jail cell. In between those start- and finish-points was an impressively dug-out hole in the Earth, complete with ventilation shafts, wiring for electricity and lights, and rails on the bottom to serve as tracks for a custom-built motorcycle that El Chapo apparently rode to freedom. There are specific traits that could be useful in figuring out what kind of motorcycle we're looking at. All of these facts are well-known to anyone who's been following the story of how the most notorious criminal in Mexico could escape from a maximum-security prison in broad daylight. Especially considering that this event marks the second time since 2001 that Guzman has arranged his own prison break. There's one detail, though, that has caught our attention. A close look at the images released by Mexican authorities shows us a motorcycle that's been heavily modified specifically to work underground. We can't be certain, based on the grainy shots and limited viewing angles of the pictures we have access to, but there are some specific traits that could be useful in figuring out what kind of motorcycle we're looking at. For starters, there's the engine. It's a single-cylinder, air-cooled powerplant, canted slightly forward. The exhaust exits on the right side of the bike, when looking from above, and there's a short chain guard on the opposite side. Granted, that doesn't narrow it down all that much. A look at the shape of the fins on the cylinder and the shape of the head, though, makes us think this may be one of Honda's ubiquitous CG-series of engines. A quick look at the bike's frame shows a single downtube, dual shocks and a steel-tube swingarm. That means it's probably not of particularly recent vintage, but we can't really pinpoint exactly what model it may be.

105-year-old Facebook user gifted new car anonymously

105-year-old Edythe Kirchmaier is quite a woman. Not only is she California's oldest driver - she just renewed her license this January after passing the test without incident - she has a perfect 86-year driving record without so much as a parking violation. In fact, she's been driving for so long that she learned how on a Ford Model T (how many people alive today have even driven one of those, much less learned on one?). On top of all that, Edythe is a philanthropist; she's been volunteering at Direct Relief, which provides free medications for people in need, for 40 years. You may have even seen her on TV earlier this year spreading the word.
So when Edythe's 1997 minivan began breaking down, an anonymous fan did what any completely selfless person of means would: they gifted her a brand-new 2013 Honda Civic, ensuring that Edythe can continue working for the cause she loves. Check her out on Facebook - she's the social media site's oldest registered user - and scroll down to the press release for more on this heartwarming story.