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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.

Daimler employees can set email to auto-delete during vacation

The Internet has shrunk the world in terms of the way people communicate by making it possible to send an email from Oslo and have it show up in Cleveland almost immediately. But that instant contact has wrecked the work/life balance for many. They get home from a long day at the office, yet they can never fully put their feet up and relax because another hour or more of checking and replying to emails awaits. However, German automotive giant Daimler is putting an end to that churn, at least while its employees are on vacation.
About 100,000 Daimler employees in Germany are eligible to opt-in to a new program called Mail on Holiday, according to The Atlantic. When the workers go on vacation, they can switch it on, and the service auto-deletes all of their incoming email. "Our employees should relax on holiday and not read work-related emails," said Wilfried Porth, board member for human resources, to The Financial Times as cited by The Atlantic.
Mail on Holiday puts a thumb on the scale of work/life balance in favor of a little more free time. The system means that Daimler employees shouldn't even be tempted to check their email on vacation because there's nothing there - and it also avoids them coming back from a relaxing holiday only to find a mailbox packed full of hundreds of unread messages. These days, people are absolutely obsessed with their work, often to the detriment of their health, not to mention spending time with their families and friends. On one hand, Mail on Holiday sounds like the sort of vacation breakthrough we'd need to truly unplug and unwind, but on the other hand, it makes our skin crawl just thinking about the lack of communication. What's your perspective? Have your say in Comments.

Which car should win 2015 World Green Car of the Year?

There were three finalists for the World Green Car of the Year announced about a month ago at the Geneva Motor Show: the BMW i8, the Mercedes-Benz S 500 Plug-In Hybrid and the Volkswagen Golf GTE. With the New York Auto Show upon us and the winner scheduled to be announced tomorrow, we thought it's high time to ask our readers which one should win. There were seven other vehicles named to the finalists list: the Hyundai x35/Tucson Fuel Cell, the Volvo XC90 T8 Twin Engine, the Audi A3 Sportback E-Tron, the BMW X5 xDrive40e, the Kia Soul EV, the Nissan e-NV200 and the Opel Adam 1.0 Direct Injection Turbo ecoFLEX Start. Would you have named one of these to the top three list instead? POLL 14386429 Green BMW Mercedes-Benz Volkswagen 2015 ny auto show world green car of the year vw golf gte