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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.

Mercedes-Maybach Ultimate Luxury fully revealed, tea set and all

Mercedes has officially unveiled its Mercedes-Maybach Ultimate Luxury concept following a leak of most of the details last week. As we learned last week, the unusual looking sedan-SUV crossbreed is fully electric with four motors producing a whopping 750 horsepower. Combined with an 80 kWh battery, Mercedes estimates it should have a range of over 200 miles on the European test cycle. It also can handle extremely fast charging from DC chargers outputting 350 kW. Mercedes claims this allows it to gain 60 miles of range in 5 minutes. But there are a number of interesting details that weren't leaked. Many of them have to do with the car's Chinese inspiration, which is perhaps not that surprising for a car that makes its debut in China. The body style is the first influence, which Mercedes says combines the sedan and SUV, the best-selling car classes in the country. On the inside, there are a pair of cues inspired by China. The first is the ebony wood trim that Mercedes calls "Magic Wood." The company says it's very similar to that used in Chinese furniture. In the back, between the two highly adjustable white leather seats with rose-gold stitching, is a complete tea set. And not only does it contain all the containers for tea, but it actually has a variety of teas on offer. They're there to be used in conjunction with the car's relaxation modes that combine lighting, music and scents to set the mood. It's hard to say whether this concept will spawn a production model, since the body style is unlike any currently offered by Mercedes-Benz. But with the crossover SUV market staying hot, and competitors such as Audi and BMW bringing out extra-large SUVs, we wouldn't be surprised if Mercedes eventually offers at least a Maybach-level version of its GLS-Class, if not its own model. Related Video:

Mercedes-AMG GT3 opts for big displacement without a turbo

There was a time when there were numerous categories in sports car racing: GT1, GT2 , GT3... but these days they've all been amalgamated into the latter. That's left a GT3 class packed with competitors and possibly more contentious than ever before. What you see here is Mercedes' new challenger, in official form after being leaked earlier today by the French website Le Point. Replacing the SLS AMG GT3 that won its class (among other races) the Nurburgring 24 Hours in 2013 is the new Mercedes-AMG GT3. Set to be revealed at the Geneva Motor Show, it's the racing version of the new Mercedes-AMG GT, and aside from looking the business, it has the makings of a highly competitive entry. As you can see, it sits closer to the track surface than the road-going version, and packs more extreme aero – including a front splitter you could serve dinner off of, little winglets to deflect the air away from the front tires, deep side sills, a massive rear wing and (though we can't see it presently) what promises to be a very large rear diffuser. It's also got more ventilation to feed the engine and cool the brakes, and a stripped-out cabin with full roll cage and a steering device that's long since evolved beyond resembling an actual "wheel." To save weight, Mercedes has redone many of the panels out of carbon fiber, but one of the most intriguing elements is what you'd find under that woven hood: instead of adapting the 4.0-liter twin-turbo V8 from the road-going GT, AMG has slotted in the larger atmospheric 6.3-liter V8 from the outgoing racer – coupled to a six-speed sequential gearbox. With its new GT3 entry, Mercedes surely hopes to take a slice of the customer racing market that Porsche in particular has developed into a successful and profitable business over the years. Racing fans, however, will be more interested to see how this puppy fares at Le Mans, the Nurburgring, the Blancpain sprint and endurance series, the United SportsCar Championship, the FIA World Endurance Championship and countless national series around the world. It'll have tough competition on its hands, though, from the likes of the Porsche 911 RSR, Audi R8 LMS, Bentley Continental GT3, Ferrari 458 Italia GT3, McLaren 650S GT3, Lamborghini Huracan GT3 and countless others that battle for glory on a racetrack somewhere on any given Sunday. World premiere in Geneva for spectacular AMG racing car All-out attack : the new Mercedes-AMG GT3 Affalterbach.