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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.

Fastest cars in the world by top speed, 0-60 and quarter mile

A claim for the title of “Fastest Car in the World” might seem easy to settle. ItÂ’s actually anything but: Are we talking production cars, race cars or customized monsters? And what does “fastest” even mean? For years, car publications have tended to define “fastest” in terms of an unbeatable top speed. ThatÂ’s distinct from the “quickest” car in a Usain Bolt-style dash from the starting blocks, as with the familiar 0-60 mph metric. Professionals often focus on track lap times or elapsed time-to-distance, as with a drag racer thatÂ’s first to trip the beam of light at the end of a quarter-mile; or the 1,000-foot trip of nitromethane-powered NHRA Top Fuel and Funny Car dragsters. Something tells us, however, that you're not seeking out an answer of "Brittany Force rewriting the NHRA record books with a 3.659-second pass at a boggling 338.17 mph." For most barroom speed arguments, the focus is firmly on cars you can buy in showrooms, even if many are beyond the financial means of all but the wealthiest buyers and collectors. Here are some of the enduring sources of speed claims, counter-claims, tall tales and taunting dismissals that are the lifeblood of car enthusiasts – now with EVs adding an unexpected twist to these passionate pursuits.   Fastest from the blocks: 0-60 mph Thirty years ago, any car that could clock 60 mph in five seconds or less was considered extremely quick. Today, high-performance, gasoline-powered sedans and SUVs are routinely breaking below 4 seconds. As of today, the 2023 Dodge Challenger SRT Demon 170 crushes all with a 0-60 mph time of just 1.66 seconds. That's simply absurd, but keep in mind the Demon was engineered with the single-minded purpose of going fast in a straight line. It's also important to realize that direct comparisons are difficult, because not all of these times were accomplished with similar conditions (prepped surfaces, adjustments for elevation and so on). The moral here is to take these times with a tiny grain of salt. After the Dodge, the Rimac Nevera comes in with an officially recorded 0-60 mph time of just 1.74 seconds. EVs crowd the quickest list, with the Pininfarina Battista coming in a few hundredths slower (1.79 seconds) than the Nevera and the Lucid Air sapphire (1.89 seconds) right after that. Eventually, you arrive to the Tesla Model S Plaid, which has a claimed 1.99-second 0-60 mph time, though instrumented testing by Car and Driver shows it accomplishes the deed in 2.1 seconds.

Mercedes-Benz Concept GLC Coupe comes to China ready to fight BMW's X4

There's little denying that small crossovers are hot right now. Not only are automakers scrambling to exploit the popularity of the market, they're doing so by offering unique twists on the traditional two-box body style – enter the coupe-like four-door CUV. BMW, for example, has the X4, and now, Mercedes-Benz is bringing a challenger of its own. While it wears the concept name, the new GLC Coupe clearly foreshadows a production model that'll duke it out with the aforementioned BMW. If the vehicle shown above is any indication, when that fight happens, Mercedes will enter it with design on its side. The sheetmetal is muscular, with strong lines on the profile and the hood, while major themes in the front, back and sides are reminiscent of higher-end Silver Arrows. While we doubt the production GLC Coupe will be much of a trail bomber, fore and aft scuff plating is there to give the impression it can handle itself off road. Also, we feel obligated to give Mercedes bonus design points for the diagonally stacked quad exhausts at the back. It's worth noting that the Concept GLC Coupe's styling previews not one but two production vehicles, as it's logical to assume the design language featured here will have a strong influence on the next GLC (the crossover formerly known as the GLK). Not only will the GLC Coupe have aesthetics on its side, at 15.5-feet long and riding on a 111.4-inch wheelbase, it's larger than its rival from Munich, too, although only just. The X4 is two inches shorter overall and has an extra 0.8 inches between the axles. The Benz is wider, too, at 78.7 inches, compared to 74.1. Lending credence to the Concept GLC Coupe's production status, Mercedes released a pretty substantial array of technical details on its new four-door, coupe-crossover. With a twin-turbocharged, 3.0-liter V6 punching out 367 horsepower and 387 pound-feet of torque, we're betting this would be the AMG Sport variant, rather than your everyday GLC. 4Matic all-wheel drive is a must-have in this segment, and it's present here, while a nine-speed automatic transmission is responsible for distributing power. The Concept GLC Coupe will be shown this week at the 2015 Shanghai Motor Show. Check back then for more. Mercedes-Benz Concept GLC Coupe The next coup Stuttgart / Shanghai. In a flowing transition, Mercedes-Benz lands the next coup: the Concept GLC Coupe is a near-production-standard study that carries the successful GLE Coupe formula over into a more compact segment.