2008 Honda Pilot Exl 4wd 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.

2015 Honda Jazz should Fit right in

When is a Honda Fit not a Honda Fit? When it's a Honda Jazz. In other markets around the world, our pleasant little Fit hatchback uses a jazzier nomenclature, but what you're looking at here isn't simply a rebadged version of the car we know and love. For starters, the Euro-spec Jazz uses a 1.3-liter VTEC engine from Honda's Earth Dreams line, tuned to produce 101 horsepower. (The US-spec Fit, meanwhile, cranks out 130 hp from its larger, 1.5-liter engine.) That powerplant is mated to either a six-speed manual transmission or a continuously variable unit, and will be the only engine initially available at launch. From there, it's pretty much the same, save the small running lamps that flank the foglamps. The Jazz should fit nicely within not only the Honda lineup, but the booming subcompact class, with lots of onboard technology, excellent packaging (including the company's Magic Seat rear bench), and – we assume – a relatively affordable price point. Check out Honda's Euro-Fit in our fresh gallery of live shots, above. ALL-NEW HONDA JAZZ REDEFINES B-SEGMENT WITH ADDED SPACE, VERSATILITY, REFINEMENT AND TECHNOLOGY - Third generation Jazz based on Honda's global B-segment platform - New 1.3 litre i-VTEC petrol engine from Earth Dreams Technology series - Extra interior space, made versatile with Magic Seats® system - Bold, fresh exterior and refined cabin - New Honda Connect infotainment system - Advanced Driver Assist Systems enhance safety 24.02.2015 -- Arriving in Europe in summer 2015, the third-generation Jazz features bold yet sophisticated exterior and interior design, with unrivalled interior space and versatility. Occupants will benefit from increased refinement and advanced safety and infotainment technologies, as well as a highly efficient and dynamic driving experience. While the newcomer retains the classic Jazz silhouette, it exhibits distinctive contemporary styling including a powerful new face and strong lines. The use of Honda's cleverly packaged new global B-segment chassis means that the latest Jazz is even bigger on the inside. The company's Magic Seats ® system ensures the interior offers unmatched versatility as well as class-leading space, with a range of configurations for carrying cargo and passengers. High-quality soft-touch materials and thoughtful interior design provide a sophisticated ambience.

Minivan market not what it used to be, but margins make up for it

Residual values for last year's minivans are higher than they were in 2000.
Much like the station wagon was the shuttle of Baby Boomer generation, the minivan has been the primary means of transport for Generations X and Y. Just as the boomers abandoned the Country Squire, though, those kids that were toted around in Grand Caravans and Windstars are adults, and they certainly don't want to be seen in the cars their parents drove.