Clean Title on 2040-cars

Auto blog

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 releases H2O brand bottled water to promote FCX Clarity

Remember when Hollywood stars Diane Kruger (Inglourious Basterds) and Joshua Jackson (Fringe) took a Mercedes-Benz B-Class F-Cell into Death Valley and "survived" by drinking water from the car's tailpipe? Honda has taken that idea into movie theaters in Australia. The idea, but not fuel cell water itself. Honda has created a bottled water brande called H2O, and it's meant to promote the hydrogen-powered Honda FCX Clarity as part of Honda's "clever thinking" campaign. The headline message, just as it was for Mercedes, is that a hydrogen fuel cell car emits nothing but water vapor, which is actually safe to drink. To give movie fans a hands-on experience, Honda Australia filled a number of Palace Cinemas movie theaters with free disposable bottles of H2O water. Of course, since there are only a handful of FCX Clarity vehicles in the world today and it would take a lot of driving to fill up that many bottles, Honda admits that, "if you're holding a bottle of our specially produced H2O water in your hand right now, you've been drinking plain old spring water. If you want to taste the real thing, you'll have to travel to California, Japan or the UK where the FCX is currently available." Of course, why anyone would want to associate themselves with the unending waste that is bottle water, a product that has not proven itself to be any better than good tap water, is beyond us. But that's what Honda is doing, as you can see in the promotional video about the stunt below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Honda marks 20 million vehicles made in the USA

Japanese automakers manufacturing in the United States is nothing new. But it was in November of 1982 when the first Honda Accord rolled off the assembly line in Marysville, OH. It was the first Japanese vehicle assembled in the US, and in the nearly 32 years since, Honda has made 10 million Accords here for a total of 20 million cars manufactured in America - enough to span from New York to San Francisco twenty times. It's that double landmark which Honda is now celebrating.
Honda has come a long way in those three decades, keeping that original plant in Marysville on line while expanding to three more - in East Liberty, OH; Lincoln, AL; and Greensburg, IN - with a fifth plant (the Performance Manufacturing Center) opening on the same site in Marysville to build the Acura NSX next year. It also builds engines in Lincoln and in Anna, OH, and automatic transmissions at Russells Point, OH, and Tallapoosa, GA.
Between those seven sites, Honda produces 11 different models, including the Accord, Civic, Crosstour, CR-V, Pilot, Odyssey and Ridgeline as well as the Acura ILX, TL, RDX and MDX. Production keeps on ramping up as Honda produced a record 1.3 million vehicles in the US last year, 95 percent of which are sold in the US. Scope out the details in the press release below and click the image above to see it all laid out in a handy infographic.