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Weekly Recap: Hyundai scores NFL sponsorship after GM exits

Hyundai replaced General Motors as the official automotive sponsor of the NFL with a four-season deal that was announced this week. Hyundai gets exclusive sponsorship rights for mainstream and luxury cars, though not for pickups – as it doesn't have one in its current portfolio. "There may be another automotive truck sponsor, but not one that competes with our vehicle lineup," a Hyundai spokesman said in an email. That leaves the door open for another truckmaker to enter the fray. GM used the NFL to promote its GMC division, which makes pickups and sport-utility vehicles. The Detroit automaker decided to quit the sponsorship, which it had held since 2001, a GM spokesman said. Financials were not released, but ESPN said the sponsorship will cost Hyundai $50 million a year, double what GM paid. It gives Hyundai access to NFL trademarks for use in its marketing and advertising, and Hyundai will provide promotional vehicles to the league for the Super Bowl and other events. Hyundai celebrated the agreement by lighting up its Fountain Valley, CA, headquarters this week with a football field and the NFL logo. Hyundai's sister company, Kia, is the official automotive sponsor of the NBA. "We are huge football fans at Hyundai and feel there is no better venue to reach consumers, increase consideration, and tell the Hyundai brand story," Hyundai Motor America CEO Dave Zuchowski said in a statement. Hyundai will officially kick off its sponsorship when the NFL season begins on Sept. 10 with a primetime game featuring the Pittsburgh Steelers and the Super Bowl champion New England Patriots. OTHER NEWS & NOTES Toyota Mirai rated at 67 mpge, 312-mile range The Environmental Protection Agency gave the Toyota Mirai hydrogen fuel cell electric car a 67-miles-per-gallon-equivalent rating. The figure is for city, highway, and combined driving. The EPA also said the Mirai will have a 312-mile range. The sedan will arrive in dealerships in California this fall and will cost $57,500, though incentives can drop the price significantly. The Mirai will also be offered as a $499-per-month lease. Both come with three years or $15,000 worth of free fuel. Toyota plans to expand sales to the Northeast United States later. Toyota's top female exec resigns in wake of arrest Meanwhile, in other Toyota news, the automaker's communications chief and top female executive, Julie Hamp, resigned.

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.

Land Rover will downsize with a pair of hybridized turbodiesel sixes

Europe's automotive industry has ground to a halt, but the strict emissions regulations that went into effect in early 2020 are still looming on the horizon. Land Rover is preparing to launch a pair of hybridized turbodiesel six-cylinder engines in a bid to comply with the regulations and avoid paying huge fines, according to a recent report. British magazine Autocar learned Land Rover has applied the mild hybrid technology already offered on the Evoque and the Discovery Sport, its two smallest models, to a 3.0-liter straight-six to obtain 300 horsepower. The company will also release a more powerful version of the six rated at about 350 horses. The former will be available on HSE, HSE Dynamic and Autobiography Dynamic variants of the Range Rover Sport, while the latter will be added to upmarket models like the HST. The full-size Range Rover (pictured) will get them, too. The sixes represent a two-pronged approach to replacing the 4.4-liter turbodiesel V8 available in Europe, among other markets. It delivers 335 horsepower and 546 pound-feet of torque, and it sends the Range Rover from zero to 60 mph in 6.5 seconds while giving it a 7,700-pound towing capacity. These figures are hard to argue against, but it's an older engine that's increasing the company's fleet-wide average emissions output, so it has to go. The mild hybrid system won't power either Range Rover on electricity alone, but it will make them cleaner and more efficient; losing a pair of cylinders will help in both areas, too. Although Land Rover hasn't confirmed plans to ax the V8 or launch a hybridized six, suppliers have started publishing information about the powertrain, so its launch is believed to be around the corner. Time will tell whether it will appear on the current-generation models or their replacements, which are undergoing shakedown testing globally and due out in the coming months. Sister company Jaguar will use the mild hybrid technology, too. The six-cylinder will find its way into the XF and the F-Pace, which are both expected to receive comprehensive updates before the end of 2020. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Talking Land Rover Defender, Ford Bronco and GMC Jimmy | Autoblog Podcast #586