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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.

The 2017 Mercedes-Benz E-Class is a technological tour de force [w/video]

UPDATE: It turns out we won't get the Park Pilot remote parking feature after all. The Mercedes-Benz engineers in Germany said we would, but an update from the US product team says otherwise. The reason, according the Mercedes-Benz, is that remote parking is a feature of Mercedes connect me, the smartphone connected services app used in other countries. Merceds currently offers MBrace in the United States. This could change over the life cycle of the E-Class, but no announcements have been made. The text below is updated to reflect this new information. If there's a theme to the next Mercedes-Benz E-Class, it's technology stuff. No "and," no hashtag. Just technology stuff. The car is so loaded with new and updated features that it eclipses the S-Class as the brand's leading edge automobile just two years after the flagship's debut. The world of automotive technology is progressing at an exponential rate akin to Moore's Law, and the E-Class is at the front of the curve. For the sake of brevity (and totally not for SEO gamesmanship), the 2017 E-Class has so many new and improved features we're just going to list them: remote control parking via a smartphone app, NFC-based unlock and vehicle start using your smartphone, 84-LED adaptive headlights, Vehicle-to-X communication, evasive maneuver assistance that identifies pedestrians and helps you steer away from danger, adaptive cruise control that sets the speed based on road signs, adaptive steering that can follow a car in front even without lane markings, active emergency braking for cross-traffic, rear-seat seatbelt airbags, an air bladder that pushes front-seat occupants towards the center of the car before a side impact, and an audio system that triggers your eardrum's reflexes to prevent hearing damage in a crash. And that huge list is all we know so far – Mercedes hasn't talked about powertrain, chassis, or infotainment yet. We're also told that all of these features will be available when the E-Class comes to the States early next year. Unlike other automakers, which save the fancy tech for Europe, Mercedes will give us all most of the goodies. Here's a breakdown of each item. Park By Smartphone Unfortunately one of the coolest features on the new E-Class is the one that won't come stateside. Mercedes calls its autonomous parking Park Pilot, and it's similar to the remote control parking recently shown on the BMW 7 Series.

France formally moves to ban Mercedes vehicles using contested refrigerant

That didn't take long. Shortly after a French administrative court gave the French government a ten-day window to reconsider its ban on registrations of Mercedes-Benz A-, B- and CLA-Class cars using the prohibited R134a refrigerant, the government cited an EU directive to formalize banning the sale of the cars. The country's environmental ministry said that registrations "will remain forbidden in France as long as the company does not to conform to European regulations," meaning so long as they do not use the approved R1234yf refrigerant.
Daimler had won the administrative court decision by challenging France's application of a "safeguard" provision in which the EU allows a country to block sales of cars that would "seriously harm the environment." In spite of Daimler's victory, France has cited that very provision as basis for the continuation of the ban.
Daimler got permission from Germany's KBA federal motor authority to keep selling cars with the coolant banned by EU politicians, and is using that national permission as the right to sell the cars throughout Europe. Meanwhile, above that battle, German politicians are asking the EU to let Mercedes sell the cars in France while the KBA does more testing, at the same time as the EU is threatening Germany with repercussions if it doesn't bring the KBA and Daimler into line.